Next growth steps for Cevotec: Welcome GFM as new partner and shareholder, changes in management
In July 2021, Cevotec welcomes GFM GmbH as new partner and shareholder. GFM has acquired a 49% share in Cevotec from early financial investors who exit their investments after 5 years of supporting the company from the onset. Along with the new partnership, also the management team continues to adapt and grow.
Shaping future innovations: since its foundation in 1945, GFM is recognized as a global leader for high-tech industrial systems tailored to individual customer needs. Their lines of machinery include radial forging machines, milling machines for crankshafts, CNC routers, ultrasonic cutting technology, and automation equipment for composites. The investment in Cevotec broadens GFM’s activities in the field of composite processing and creates new technology and business opportunities.
“With GFM as partner, we are entering a new phase of development at Cevotec. GFM shares our vision to empower manufacturers to build complex composites in high volume and quality, and supports us with more than 75 years of experience in high-tech machinery”, states Thorsten Groene, CEO and Co-Founder of Cevotec. “We sincerely thank our business angels and our financial investors High-Tech Gründerfonds, Bayern Kapital and Founder.org for their great trust and support throughout the start-up phase of Cevotec.”
Michael Kralowetz, President & CEO of GFM, comments: “Cevotec has developed a very impressive technology for automated composites processing and I’m looking forward to their future innovations. We welcome the team to our company group.”
Dr. Georg Ried, Managing Director at Bayern Kapital says: „Both the versatility and scalability of Cevotec’s technology convinced us from the very beginning. We are convinced that with this recent growth step, Cevotec is ideally positioned for further successful development in the future.“
Dr. Olaf Joeressen, Senior Investment Manager at High-Tech Gründerfonds, about the Exit: “Producing high quality carbon fiber parts in a scalable way has a great future and we are glad that we could support the Cevotec team on their way. With GFM as a partner Cevotec can now grow faster and deliver its strong technology to a broad customer base.”
Concurrently to the investment, the management of Cevotec continues to adapt and grow. Felix Michl, Co-Founder and CTO, steps down from his active CTO position and continues to support Cevotec in an advisory role going forward. “It was very exciting to build up Cevotec and bring FPP technology to industry over the last ten years”, says Michl. “Having reached this important milestone with GFM, I’d like to focus on new challenges and also spend more time with my family”.
From September onwards, Dr. Florian Lenz joins Cevotec as Technical Director and brings more than 15 years of composite experience into the management. Graduated with a doctorate degree from the University of Dresden in the field of composites, he worked for 12 years at LZS GmbH, last in the role of Deputy Group Manager Engineering and as Head of Strategic Business Development and Innovation. “I’m looking forward to joining Cevotec, a company that I’ve been following for several years now. Together with the dedicated and strong technical team, we will push the state-of-the art in Fiber Patch Placement technology, contributing our part to the automation of industrial composite manufacturing”, states Florian Lenz.
“This setup opens up exiting opportunities for Cevotec”, concludes Groene. “Especially our customers will benefit as we extent our technical capabilities and global reach. I’m looking forward to leading Cevotec through this next growth phase”.
Munich-based automation specialist Cevotec offers one of the world’s most advanced production systems for complex fiber composites. At the intersection of composites, mechanical engineering and software, Cevotec develops production systems and software based on Fiber Patch Placement (FPP) technology: SAMBA and ARTIST STUDIO. The systems, which are particularly suited for automated fiber placement on complex 3D geometries, process carbon fibers, glass fibers, adhesive films and other technical fibers. They can be used for a broad range of applications. Such flexibility is particularly appreciated by customers from aerospace and med-tech industries, who realize cost and time savings of 20%-60% when switching from manual processes to FPP.
GFM GmbH is an owner-managed company in the third generation in the field of special mechanical engineering. In the various niches mainly of radial forging and composite machine building and automation, we are active worldwide from our headquarters in Austria and our sister companies in the USA and UK. Based on a deep understanding of the application, our design engineers develop machines and equipment tailored to the individual needs of our customers. Our services range from design and development to manufacturing, assembly and commissioning. Together with a strong service department, we stand for modern products, intelligent solutions, highest quality and first-class service.
About Bayern Kapital:
Bayern Kapital GmbH, based in Landshut, was founded on the initiative of the Bavarian government in 1995. It is a wholly-owned subsidiary of the Bavarian LfA Förderbank. As the venture capital organisation of the Land of Bavaria, Bayern Kapital provides equity capital financing for the founders of young innovative technology companies in Bavaria. Presently Bayern Kapital manages twelve investment funds with a total volume of around €500m. So far, it has invested roughly €350m in about 290 innovative companies in the fields of technology in various sectors including life science, software & IT, medical technology, materials and new materials, nanotechnology and environmental technology. In this way, more than 8000 long-term jobs in sustainable companies have been created in Bavaria.
About High Tech Gründerfonds:
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected more than EUR 3 billion into the HTGF portfolio via more than 1,700 follow-on financing rounds. HTGF has also successfully sold interests in more than 130 companies.
Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies. The Fund Investors.
High-Tech Gründerfonds Management GmbH
Stefanie Grüter, Head of Marketing & Communications
T.: +49 228 82300 188
High-Tech Gründerfonds Management GmbH
Olaf Joeressen, Senior Investment Manager
T.: +49 228 82300 157
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