ICT AG of Germany, an LED specialist, have completed an MBO that means that the founders have sold to two management board members and the company, which has grown from 110 staff in 2013 to 180 now, will now be owned by Christian Pusch and Erik Wolff, each with 15%, and BWK GmbH , Stuttgart, with 70%. The board of the company will not change and the head office will remain in Kohlberg although the company plans to increase its support staff around Germany.
The company is running an LED workshop in Kohlberg from 15th to the 17th of November.
Analyst Comment
The company’s website described BWK as an “Unternehmensbeteiligungsgesellschaft”. Research into the word continued, as Google Translate couldn’t come up with anything and the meaning of the components seems vague. It seems it is a private equity investment company. (BR)
