PCB | June 28, 2006
Ruwel sold to investment bank
Ruwel AG, the biggest German printed circuit board manufacturer, is sold mainly to a consortium of American investment banks. The executives Wilfried Sehner and Ralf Ebeling hold a minority share.
The two executive acquired the financially weak company in 2004. In the business year 2004 Ruwel had achieved a revenue of 179 million Euro, an increase of 12 percent compared to the previous year. Despite of the positive development the company had ongoing financial problems so that the Danish branch had to be closed in 2005. Since Ruwel has credits of about 100 million Euro, a strong finance partner was searched for about two years. The investment banks Bear Stearns, BlueBay Asset Group and Cargill Value Investment now take over the majority of the stock and the credits of the Ruwel AG.