Argos Wityu accompanies Groupe Buffet Crampon in its acquisition of Schreiber & Keilwerth the German musical instruments manufacturer
Paris – Buffet Crampon, N° 1 European manufacturer of musical instruments and world leader in clarinets, owned by the Argos Wityu funds, announces the acquisition of Schreiber and Keilwerth, one of the highest internationally reputed German musical instrument manufacturers.
The Groupe Buffet Crampon has acquired all the assets of the German manufacturer Schreiber & Keilwerth, which has been under insolvency since March 2010. This exceptional ensemble, which is part of the musical industry’s European heritage, comprises the wind instruments factory in Markneukirchen with a capacity of 50 000 instruments per year and the prestigious Schreiber and Keilwerth brand names.
The acquisition of Schreiber & Keilwerth by the Groupe Buffet Crampon will save 134 jobs in this region of Germany and preserve the know-how of the firm.
«The Schreiber & Keilwerth brands will perfectly complement the Buffet Crampon brands in market segments where we were absent. With nearly 8 million Euros in supplementary turnover, the Schreiber and Keilwerth ranges provide us with new markets” declares Antoine Beaussant, President of the Groupe Buffet Crampon.
In the Germanic world, the Schreiber range (German system clarinets and bassoons) will complete the Buffet Crampon range (Boehm system clarinets, oboes, bassoons, English horns and saxophones) which is leader in the rest of the world. The Keilwerth range of saxophones will provide a significant market share in the professional jazz saxophone field, in particular in Europe and the USA. Buffet Crampon will pursue its strong development in this segment by way of its Besson and Antoine Courtois brands, which are enjoying very rapid growth, notably in the United States and in Europe.
Since the MBO carried out by Argos Wityu in June 2005, external growth has been part of the Company’s strategic plan. Part of the financing for the transaction was provided by the funds advised by Argos Wityu, which holds nearly 90% of the shares in the Groupe Buffet Crampon. The complement was provided by the Fonds Patrimoine et Création managed by CDC Entreprises. This investment once again, confirms the confidence of Argos Wityu Funds in the future of the Groupe Buffet Crampon.
« Schreiber & Keilwerth has been a major Buffet Crampon partner for many years, both industrially and commercially. The merger of the two enterprises creates numerous synergies and is a major strategic move for Buffet Crampon which enables it to consolidate its place as leader” declares Louis Godron, Managing Director of Argos Wityu.
About Groupe BUFFET CRAMPON
Founded in 1825 in Paris, Buffet Crampon is one of the largest musical instrument manufacturers and number one in the world for the professional clarinet. With its three brands, Buffet Crampon, Antoine Courtois created in 1803 and Besson founded 1837, the Group is active in the segments of woodwind (clarinets, bass clarinets, oboes, bassoons, saxophones) and brass (tubas, euphoniums, saxhorns, trumpets, cornets, altos, bugles, trombones).
Benefiting from a worldwide distribution network with subsidiaries in the United States and Japan, the Group achieved in 2009 a turnover of 53 million Euros, 92% of the instruments are exported.
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About ARGOS WITYU
Created in 1989, Argos Wityu is an independent European Private Equity firm with offices in Milan, Paris and Geneva, wholly owned and operated by its partners.
Argos Wityu focuses on management buy-outs and buy-ins in small and medium sized companies across Europe, but primarily in France, Italy and Switzerland.
The group of funds managed by the firm typically takes majority stakes ranging from €10m to €50m in companies with revenues of €20m to €400m.
Argos Wityu prefers to invest in companies with the capacity to become leaders in a particular business niche.
The €275m fund that Argos Wityu V raised in 2006 has allowed the firm to carry out 14 transactions to date.
Press contact – Céline Lanoux – Tel. +33 1 53 67 20 50 – firstname.lastname@example.org