British Investor Takes the Reins of manroland Sheetfed Division
OFFENBACH, GERMANY—Feb. 9, 2012—With all of the contracts having been signed and the transaction receiving German cartel office approval earlier this week, British entrepreneur Tony Langley and the privately owned engineering group, Langley Holdings, now are in control of manroland’s sheetfed printing equipment division and its properties portfolio in Offenbach, together with manroland’s international marketing organization in more than 40 countries.
“We foresee very good economic prospects for manroland sheetfed following the recent restructuring,” commented Langley, “This is a world-class business with an excellent reputation and its production and research and development facilities are superb; everything one expects from the very best of German engineering.”
In a moving address to the entire assembled workforce of over 850 people in Offenbach today, Langley said, “today was the beginning of a new era” and that he was confident the company would succeed, finishing to spontaneous applause with words reminiscent of the most famous ever spoken in German by an English speaker, those of President John F Kennedy in 1963, “Ich bin ein Rolander.”
Langley already operates two highly successful technology divisions in Germany engaged in the capital technologies sector. In 2011 the group recorded revenues of approximately €500 million and a profit before tax of some €76 million with around two thirds coming from its German operations. The group has a strong balance sheet with no debt and although it has been agreed that the purchase price will not be disclosed, it is known that Langley financed the entire transaction from own cash resources.
In testimony to the strength of manroland equipment in the market, almost all customers who had orders with the sheet fed division when the former parent’s bankruptcy was announced last November, did not cancel their orders. Satisfaction with these incredibly sophisticated machines is high and customers, having chosen manroland sheetfed technology for its exceptional print quality and efficiency, have been reluctant to switch to competitor products, preferring instead to wait and see what the business sale process yielded. They were not to be disappointed.
“A better investor could not have been hoped for,” said veteran “Rolander” Rafael Penuela, executive vice president of newly formed manroland sheetfed GmbH. “Langley is a strong and experienced industrial group that really understands the capital equipment sector and has long term perspectives on all of its investments.”
Langley Holdings plc is a globally operating, multi-disciplined engineering group, specialising in capital equipment technologies. Hitherto, the group comprised 4 divisions: Piller (www.piller.com), headquartered near Hanover in Germany, a leading producer of high-end power protection systems primarily for data centres and a producer of aircraft ground power equipment and military electrical systems; Claudius Peters (www.claudiuspeters.com), headquartered near Hamburg in Germany, primarily a plant machinery builder to the cement and steel industries, with an aircraft parts division; ARO (www.arotechnologies.com), headquartered near Tours in France, is a leading producer of resistance welding equipment to the automotive industry and; several other mainly smaller mainly UK based specialist engineering businesses, further information of which can be accessed via the main portal. In 2011 the group recorded revenues of circa €500 million and pre-tax profits around €76 million. The group was established in 1976 by the present Chairman & CEO, Tony Langley, who remains the sole shareholder.
Source: Langley Holdings.