Schrack Technik emerged out of Schrack AG, an Austrian family business founded in 1920. After the sale by the family, Schrack Technik belonged to the French Rexel Group. Strategic considerations led to a further sale in 2005. The management made use of the opportunity to take control of the medium-sized business itself, fending off a sale to a strategic investor.
The product and systems vendor for low voltage and data technology, lighting and cable systems, is now a strong industrial brand in central Europe, currently employing around 700 people and achieving sales of around 200 million euros.
The partnership with the HANNOVER Finanz Group enabled Schrack Technik to establish a long-term market leadership for power and data technology in central Europe. The great demand for technical services in buildings and industrial facilities, above all on the eastern European market, offers considerable potential for growth. Schrack Technik can now
- ensure a sound financing structure,
- ensure entrepreneurial freedom for the “new owners”,
- facilitate the expansion and development of the business.
For the new entrepreneurs, the management buy-out in 2005 marked the kick-off of the expansion of the company's market leadership in Eastern Europe. Schrack Technik is tapping new markets, e.g. in Romania, and has meanwhile developed activities in more than ten countries in Europe. Management and financial investor, working closely together, have been pushing ahead with the internationalization of the company. After ten years of successful partnership, HANNOVER Finanz sold its stake in 2015. The management acquired the majority and now holds 60 percent of the shares. ILAG, a Vienna-based investment holding company with a focus on industrial investments, joined in as a new partner and minority shareholder.
Wilhelm Grosseibl: “In the context of a management buy-out together with my colleagues on the board and 16 further managers in our company, I was able to take over the Schrack Technik Group from the French Rexel corporation. It would not of course have been possible for the management to finance such a transaction alone. With the HANNOVER Finanz Group, however, we were able to raise the necessary equity capital, convince the banks to provide borrowed capital, and thus together persuade the seller.
Thanks to the HANNOVER Finanz Group as a committed partner, we have succeeded in finding a powerful and secure solution for our business and at the same time in establishing a sound basis for further dynamic development.”