Altendorf holds a premium position in the production of high-quality panel saws but recently, other brands have challenged the position held by Altendorf for over 100 years, both in terms of quality and performance. With the purchase by Avedon; Altendorf is now in a position to successfully grow and develop.
In October Avedon Capital Partners (Avedon), an experienced growth capital investor, passionate about supporting market-leading Mittelstand companies and their outstanding management teams, acquired a majority stake in Wilhelm Altendorf GmbH & Co. KG (Altendorf Group), a leading global manufacturer of saws for craft processing of wood, metal and plastics. The objective is to extend the group´s premium position for machines and services in wood, metal and plastics processing with innovative products and technologies to sustainably capture new customer segments and markets through organic growth and by realizing external growth potential. Wilfried and Tom Altendorf will no longer be part of the management group.
Tom Altendorf, previously managing director and fourth generation family member, points out “The Altendorf family considers it their responsibility to see the family success story being continued for the benefit of coming generations of employees and customers. On the strengths of its excellent management team joining forces with an experienced growth investor the company holds a strong and lasting foundation to further accelerate its dynamic growth path. Altendorf is now placed in a position to successfully grow and develop pursuant to the legacy of its founding family. We truly wish the new shareholder and all employees a prosperous future and we remain in ties of close friendship with the company carrying our name as well as with all employees of Altendorf.”
Altendorf Group, headquartered in Minden, looks back at a 110 year history and enjoys global brand awareness. The group’s most important product is the sliding table saw, developed by Wilhelm Altendorf in 1906. The model F45, also called `The Altendorf´ is perceived around the world as synonym for brand and product. The company employs more than 250 people and has sustained continuous growth in the past years. In 2016 Altendorf Group generated revenues of 40m EUR. As driver of innovation, Altendorf Group takes a leading role in the wood-working handicraft sector and has a strong position for further national and international growth. Avedon intends to further diversify the company and to continue developing new customer segments with the brand of Altendorf. In the spirit of Altendorf as a premium brand, in particular the areas of R&D, sales and services will be further strengthened and sustainably expanded. Additional double-digit-million investments aim to further expand the product portfolio with special focus on digitalisation.