© Meyer Burger Business | August 11, 2020
Meyer Burger sells its microwave and plasma maker Muegge
Meyer Burger Technology is selling its microwave and plasma technology company Muegge GmbH, to investment company HQ Equita.
HQ Equita will acquire all of Muegge GmbH's business divisions including its subsidiary Gerling Applied Engineering Inc. based in Modesto Californa, as well as its approximately 100 employees. Both companies signed a contract to this effect on 7 August 2020. This is subject to customary market conditions and must still be approved by the authorities in Germany. The transaction is expected to be completed towards the end of September 2020. Meyer Burger expects a cash inflow of approximately CHF 24 million (EUR 22.2 million) and a book profit of approximately CHF 4 million (EUR 3.7 million) from the transaction. The contract additionally includes an earn-out of CHF 2.5 million (EUR 2.3 million) in 2022 based on agreed financial targets in 2021. As part of its focus on the transformation of Meyer Burger into a manufacturer of solar cells and modules, the company has decided to sell its non-strategic business units – Muegge GmbH being one of these. The company is a manufacturerer of microwave and plasma systems - from industrial heating with microwaves to plasma technology processes for large-area coating. HQ Equita is part of the Harald Quandt-Group, based in Bad Homburg. Around 20 experts support primarily owner-managed SMEs in strategically developing and growing their business.
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