MBB : announces changes in management and sets new growth target
May 10, 2021 at 02:08 am EDT
Share
Disclosure of inside information acc. to Article 17 MAR
MBB SE announces changes in management and sets new growth target
Berlin, 10 May 2021 - The Board of MBB SE (ISIN DE000A0ETBQ4), a medium-sizedfamily-owned company, has resolved to make changes to the Executive Management and the Board with effect from 1 July 2021 as the contracts of the Executive Management are due to expire on 30 June 2021.
Dr Constantin Mang will become the new CEO of MBB SE. Constantin Mang has been part of the MBB management since 2014 and has been responsible for M&A and Investor Relations as the company's CIO since 2018. In this function, he played a key role in the acquisition of Friedrich Vorwerk and Bohlen & Doyen, as well as the subsequent IPO of these companies. As CEO, he will also be responsible for Finance. Klaus Seidel, who has been with MBB since 1999, will remain COO of MBB SE. Next to the operational development of the portfolio, he will be responsible for the areas of Technology and Legal in particular. Torben Teichler will be appointed as new Executive Director and CIO of MBB SE. Torben Teichler has been Vice President at MBB SE since 2018 and will primarily be responsible for Treasury and Capital Allocation.
The current CEO Dr Christof Nesemeier will become Executive Chairman (Chairman of the Board and Executive Director) under the monistic corporate constitution. Gert Maria Freimuth will become Vice Chairman of the Board. Dr Christof Nesemeier and Gert-Maria Freimuth founded the company 25 years ago and together hold more than 65% of the share capital. Both founders hold their shares on a long-term basis. Dr Peter Niggemann and Anton Breitkopf remain members of the Board, which was elected in its current composition by the 2020 Annual General Meeting for a five-year term.
During the 15 years of MBB's listing on the Frankfurt Stock Exchange, the company has significantly multiplied its value. It is the declared goal of the company's founders and management to continue this positive growth momentum. MBB therefore plans to double its sales once more until 2026. With a net liquidity of €510 million as of 31 March 2021, of which €375 million is attributable to the holding, MBB is ideally placed to achieve this goal through organic growth and the acquisition of new companies.
Berlin-Charlottenburg Local Court, registration number: HRB 165458
Attachments
Original document
Permalink
Disclaimer
MBB SE published this content on 10 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 06:07:00 UTC.
MBB SE, formerly MBB Industries AG, is a German-based private equity firm specializing in acquisitions of established medium-sized industrial companies. The Company makes investments in entities seeking to sell off a part of their business or the entire operation, perhaps as part of a succession process; selling a subdivision or an affiliated entity that no longer forms part of the organization's core business, and seeking for a management buyout or buy-in. It targets investments in firms with turnovers of 10 million euros and above. Its portfolio consists of Aumann AG, specializing in e-mobility, coil winding and automation, CT Formpolster GmbH, a producer of flexible polyurethane foams, Delignit AG, a supplier of ecological hardwood-based materials, DTS IT AG, a cloud computing and cyber security provider, Hanke Tissue Spolka Z O.O., a producer of tissue paper, and OBO-Werke GmbH, a supplier of products for model construction, toolmaking and mould production, among others.
MBB SE 
