Langley Group Takes Over manroland’s Sheetfed Division
AUGSBURG, GERMANY—Feb. 1, 2012—An investor solution has been found for the sheetfed business of manroland AG currently in insolvency proceedings. The privately owned British engineering group, Langley Holdings, has emerged as the investor behind a takeover of the sheetfed printing equipment division, its production facilities (including all real estate in Offenbach), and the international marketing organization active in more than 40 countries (www.manroland.com).
“I am very pleased with the solution which will provide a long-term perspective to the Offenbach location and the sheet fed printing business,” said Werner Schneider, Insolvency Administrator. Roughly 840 employees in Offenbach will be retained according to the present staff planning. In addition, Langley takes over the international marketing organization.
“Tony Langley, sole shareholder of the Langley Group, is well known as a long-term investor who acts strategically. We are convinced that a lasting perspective has been found for manroland’s sheetfed printing business,” Schneider continued.
“We foresee very good economic prospects for manroland sheetfed following the recent re-structuring,” said Langley, “This is a world-class business with an excellent reputation and it’s production and research & development facilities are superb; everything one expects of the very best of German engineering.”
Langley already operates two successful technology divisions in Germany in the field of capital equipment—the Piller Group and Claudius Peters Group. In 2011, Langley Holdings achieved revenues of approximately €500 million, with a profit before tax of some €76 million.
All contracts have been signed today. The execution of the transaction is subject to approval of the German cartel office which is expected within the next weeks.
About Langley Holdings
Langley Holdings is a diverse privately owned UK based engineering group, specialising in capital equipment technologies that are either outright leaders in their field, or niche players. Two of its principal operating divisions are located in Germany and one in France, with several smaller businesses in the U.K. The group has a network of over 30 subsidiaries in 17 countries and currently employs around 2,500 people worldwide.