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CMP takes over Gustav Wolf Group

News

CMP Capital Management-Partners (CMP) is entering the high-growth market of rope and wire products for the elevator and crane industry: The GOF III fund managed by CMP is acquiring 100 percent of the shares in the German Gustav Wolf GmbH, a leading supplier in this segment.

CMP plans to economically reposition the Gustav Wolf company, previously run by the owner family. "We will support the company in taking advantage of market opportunities as they arise, in further improving cost structures, and, above all, in gaining market share in Europe," announces Kai Brandes, Managing Partner at CMP.

Dr Ernst Wolf, Managing Partner of Gustav Wolf GmbH, adds: "As a family business, we are pleased to secure the further development of the company by handing over entrepreneurial responsibility to an experienced in-vestor."

Production of steel wire ropes

In doing so, he will initially act as managing director together with CMP partner Andreas Böttger. In the further course, Dr Wolf will provide his knowledge and experience from the advisory board, the company's press release states.

Since its foundation in 1887, Gustav Wolf has focused on the production of steel wire ropes. Based in Gütersloh since 1912, the company has developed and distributed ropes for mining, cranes and elevators.

With approximately 500 employees at its European plants in Germany, Hungary, and Poland as well as its sites in Suzhou in China, and Rome, Georgia in the US, the group generates an annual turnover of more than 80 million euros.


More information: gustav-wolf.com
www.cm-p.de