Cross and Gimv form European market leader for wire mesh solutions
- The German WDM Group, a leading supplier of customised, spot-welded wire mesh solutions, and the German Deutenberg Group, a producer of high-quality bent wire components, join forces
- The partnership will reinforce the market leadership in the field of special industrial wire mesh, and aims to expand the product portfolio and manufacturing expertise
Wolfshagen and Ense/Höingen, 1 July 2021 – WDM Wolfshagener Draht- und Metallverarbeitung, a portfolio company of the private equity firm Cross, and Deutenberg are merging to form a European market leader for customised, spot-welded wire mesh solutions, bent wire components, wire mats, and grid mesh components. The private equity firm Gimv joins as an additional shareholder with a minority stake in the new WDM/Deutenberg Group.
Founded in 1994 and based in the German state of Brandenburg, WDM produces 35,000 spot-welded wire mesh units per day. Its core competence lies primarily in the production of customised, special industrial mesh. WDM’s customers include renowned companies in sectors such as construction, industry, trade, logistics and livestock farming. WDM was acquired in early 2018 by Cross, a private equity firm specialising in succession planning, and has since pursued a focused expansion strategy: At the end of 2019, the acquisition of Midrahtec Drahtwaren based in Leisnig, Germany, marked an important step on this growth journey, bringing both additional expertise in advanced 3D-forming and -welding processes as well as a new location to WDM Group.
Deutenberg, a family business based in Ense in Germany’s Sauerland region, has more than 60 years of experience as a specialist in the development and production of high-quality wire products for sectors such as industry, architecture, retail and shopfitting. The group is an ideal complement for WDM, both in terms of product offering as well as end markets served. With Deutenberg, WDM strengthens its position as a leading supplier of wire mesh solutions and expands both its product portfolio and manufacturing expertise. The long-standing experience of both companies in producing wire products will enable the combined group to drive innovations in this area even more effectively in the future.
Dr Michael Petersen, Managing Partner at Cross Equity Partners AG and Chairman of the Board of the new WDM/Deutenberg Group, says: “The acquisition of Deutenberg as part of a family succession solution is another milestone in WDM’s growth journey and enables us to cover the end markets even better.”
Ronald Bartel, Partner at Gimv‘s Smart Industries team in Munich, explains: “Combining WDM and Deutenberg creates a clear European market leader and enables the two companies to jointly respond even better to customer-specific requests and offer larger quantities.”
Ernst Hüffmeier, CEO of WDM, adds: “The merger with Deutenberg is a significant step for us. We look forward to working with their experienced management team to provide even better solutions to our customers.”