Wittur Group successfully closes stake sale to PSP Investments

Back to news hub

Wiedenzhausen, Germany, March 8, 2019

 

The Wittur Group (ISIN: XS1188024548, XS1188025438) announced today that it has successfully closed the minority investment of PSP Investments Holding Europe Ltd, a wholly owned subsidiary of Canada’s Public Sector Pension Investment Board (“PSP Investments”) into the company. The transaction was signed and publicly announced at the end of December 2018. Specifically, PSP Investments has acquired a 32% stake in a parent company of Wittur International Holding GmbH from a company controlled by Bain Capital Private Equity (“Bain Capital”). Bain Capital will continue as majority investor in the Wittur Group. After receiving all regulatory approvals and satisfying all relevant conditions, the closing of the transaction is now completed.

 

PSP Investments is one of Canada’s largest pension investment managers with C$158.9 billion of net assets as of September 30, 2018. It manages a diversified global portfolio across 75 industries and more than 100 countries.

 

Investor Relations Contact

Roman Istanbuli

Wittur Holding GmbH

Rohrbachstraße 26-30
85259 Wiedenzhausen | Germany

Phone: +49(81 34) 18 - 136

Mail: roman.istanbuli@wittur.com

 

About the Wittur Group

Founded in 1968, Wittur is one of the world’s leading independent elevator components manufacturers with an extensive global manufacturing footprint and sales network and a broad range of products. Its product offering features a large range of components for new elevator manufacturing and sourcing, for spare parts and for modernization and upgrades. Components made by Wittur span from sophisticated mechatronic components for elevator cabins and landing doors (including the associated opening mechanisms) to other critical components such as gearless drives, slings, safety gears and cars.

 

The Wittur Group has a workforce of around 4,600 employees and conducts business in more than 50 countries. It is majority owned by funds managed by Bain Capital Private Equity.

 

For more information on the company, please visit www.wittur.com

 

This press release may constitute a public disclosure of inside information by the Wittur Group under Regulation (EU) 596/2014 (16 April 2014)

Share
 

Related news

Unibail-Rodamco-Westfield forms partnership with PSP Investments and QuadReal for a €750Mn (£670Mn) Private Rented Sector scheme in London

2019-03-18

read more

PSP Investments continues to spot the edge with second annual Montréal’s Top Employers recognition

2019-01-31

read more

PSP Investments Appoints Eduard van Gelderen as Chief Investment Officer

2018-07-30

read more