New majority owner at Langer & Laumann

The ownership of Langer & Laumann is changing: with immediate effect, there is a new majority owner. The transaction was concluded on 15 June 2023.

Langer & Laumann announced that a Norvestor fund ("Norvestor") has acquired a majority stake in the company from Odewald KMU. Following the acquisition from Odewald KMU and the Company founders, Norvestor will become the largest shareholder in Langer & Laumann, followed by the Company’s management and employees. Langer & Laumann is an aftermarket service provider focused on repair and maintenance kits for elevators.

"Since 2018, Langer & Laumann has been able to develop from an owner-managed company into a pan-European, market-leading service company in the elevator service market," according to a press release of the company. Under the majority ownership of Odewald KMU, Langer & Laumann has established direct sales channels in the core markets of DACH and Benelux, according to the company headquartered in Steinfurt.

Moreover, the company has experienced a successful internationalization, with market entries in the Nordics, France, Spain, and beyond. In addition to the core business, the company has expanded to new business areas, including door drives for safety doors of machine tools and windows. With the new majority owner Norvestor, the company will seek to accelerate international growth, including the Nordics. Langer & Laumann currently has 31 employees.

"Next growth phase"

"I am thankful to Odewald KMU for what we have been able to achieve over the past five years. With that said, I am now excited to welcome Norvestor as the new majority owner of Langer & Laumann and I look forward to embark upon the next stage of growth together," declared Martin Platt, CEO of Langer & Laumann. "With Norvestor’s long-standing and successful track record of developing service and aftermarket businesses, I am confident that we are ideally positioned to grow in the Nordic region and beyond. Moreover, with backing from Norvestor we will benefit from their experience in building digital capabilities as well as buy-and-build expertise, which will enable us to potentially pursue synergistic add-ons to accelerate our international growth journey".

"We see a strong fit between the Company's business model and Norvestor’s experience from previous and current investments, with a mission-critical aftermarket service offering in a structurally growing market," emphasised Tor Erling Gunnerød, partner at Norvestor Advisory.

"With the continuous aging of the elevator installed base and shortage of trained field technicians, we expect increased demand for easy-to-use repair and modernization kits." Gunnerød continued.

More information: lul-ing.de
norvestor.com