- International interest in Schaidt Innovations after an innovation process was started in insolvency
- Webasto SE with the most convincing take-over concept
Wörth-Schaidt/Lausanne/St. Gallen, 10 January 2017 – Electronics service provider Schaidt Innovations GmbH (www.sc-innovations.de, previously Harman Group) was taken over by Webasto SE effective on 1 January 2017. Business operations will be continued as Webasto Mechatronics with around 166 employees. With a turnover of almost 3 billion euros and around 12,000 employees, the Webasto Group is among the 100 largest automotive suppliers in the world.
It was the first time that a team of experts, lead by Rasenberger Toschek (www.r-t.com), initiated an innovation process under insolvency conditions. For over seven months, members of Schaidt Innovations, selected based on innovation-related aspects, cooperated with external advisors to develop and implement a new innovation process within the company. The new approach, transformation as restructuring (TaR), designed for situations where conventional restructuring is not possible for lack of a commercial basis, was applied in practice for the fist time. Responsible for the lack of a commercial basis for Schaidt Innovations were the changes in the modern automotive industry. There simply were no follow-up orders for Schaidt Innovations‘ products, which rank among the best in the world.
„Those who just bank on reducing costs and personnel miss the point. What it takes for a viable future is new products and a new clientele“, says corporate restructurer Jochen Brinkmann. The circle of top advisers also included Georg von der Ropp (BMI Lab), Christoph Wecht (BGW, St. Gallen, Switzerland) and Peter Russo (professor at private university EBS Universität, Germany).
The subsequent sale of Schaidt Innovations had been preceded by a structured, intense investor process met with worldwide interest. There had been negotiations with 140 potential investors, until Webasto was accepted because they offered the most convincing solution. The sales process was accompanied by Swiss M&A consultancy Rasenberger Toschek.
With this acquisition and having its own electronics production, Webasto enhances its competence as a global leader for roofs, convertible roofs and thermo systems. As a consequence, Webasto will manufacture part of its electronics components in its own house. Webasto’s global presence allows for quick internationalisation of Schaidt Innovations, which so far has only been focussing on the German market. The purchaser’s concept for the Wörth-Schaidt location convinced all parties involved. Webasto already has many years of experience in mechatronics development, which will now be ideally complemented by Schaidt Innovations. The complexity and significance of electronic components for all Webasto products have been increasing for years. The TaR process has shown that the strengths of Schaidt Innovations are a perfect match for Webasto. Silke Nötzel, district secretary in charge at the regional head office of the centre of Germany of IG Metall, the German Industrial Union of Metalworkers, adds: „The novel approach to the development of business model innovations has helped give over 160 employees a long-term perspective. IG Metall supported this method as an important factor to prevent the gates in Schaidt from being shut after a long battle.“
As per 1 January 2017, Webasto took over all assets of both the operating company Innovations GmbH & Co. KG and the holding company Schaidt Holding GmbH. The purchasing price was agreed not to be disclosed.
The BMI Lab/BGW (St. Gallen), a spin-off of the Institute of Technology Management at Universität St. Gallen university, accompanies the team during the systematic implementation of the innovation process. With its „Business Model Navigator” it provides a scientifically substantiated and proven approach to the systematic development of business models. www.bmilab.com / www.bgw-sg.com
The consulting firm Rasenberger Toschek, with business activities in Europe, Asia and the U.S., was established in 2005. Its current international team of 25 advisors supports medium-sized and large companies in complex rescue scenarios. It is predominantly hired by companies based in Germany, Austria and Switzerland. Solutions are developed and implemented in collaboration with international partners. www.r-t.com
Printable photos about Schaidt Innovations: www.sc-innovations.de/presse.html
Project team: http://tinyurl.com/jp9xkp5
Rasenberger Toschek media contacts
Heiner Schaumann
Ph.: +49 172 7986006
Jochen Brinkmann
Rasenberger Toschek | World Trade Center | Avenue de Gratta Paille 2 | 1000 Lausanne 30 | Suisse