Hirschmann Automation and Control, the parent entity of the Hirschmann Industrial Ethernet division, has been sold to Belden, one of the leading manufacturers of signal transmission solutions.
2004 Management buyout leads to divestments and restructure.
HgCapital acquired Hirschmann Group, based in Germany, in February 2004 for EUR 115 million as part of a management buy-out.
Since then, management backed by HgCapital has implemented a number of changes to establish the company as a leading player in its niche markets of industrial ethernet, industrial connectors, fibre interfaces and load measuring control systems for mobile applications.
Two non-core subsidiaries were sold, operational improvements have been made to develop efficiencies across the group, and investment has been directed towards new product development.
As part of the reorganisation, a new group structure was established creating two entirely separate companies: Hirschmann Automation and Control GmbH and Hirschmann Car Communication GmbH, each with their own autonomous operations.
Hirschmann now considered one of the specialists in network technology.
As a result of these changes, Hirschmann Automation and Control GmbH (HAC) is now recognized as one of the leading specialists for automation and network technology.
Hirschmann Automation and Control’s product range comprises network components for the Ethernet, Fast-Ethernet and Gigabit-Ethernet, fiber interfaces for different field bus systems as well as actuator and sensor plug connectors and systems for load indication and load moment limitation.
In 2006, Hirschmann booked sales of around EUR 190 million. Hirschmann operates profitably and has 750 staff members.
Belden is a provider of signal transmission solutions in the field of data networking.
US company Belden, based in St. Louis/Missouri is a provider of signal transmission solutions (above all special-purpose cables) in the field of data networking and for a broad range of other specialty electronic applications.
Belden employs more than 5,000 staff worldwide. Following the acquisition, HAC will continue to be run by the current President and CEO, Reinhard Sitzmann who toured Australia recently to meet local Hirschmann distributors.