Werner Schneider, the administrator overseeing manroland AG’s insolvency proceedings, released a statement this morning that Langley Holdings plc, based in Nottinghamshire, UK, is the investor behind the takeover of manroland’s sheetfed equipment division and associated real estate assets.
In mid-January, Schneider announced manroland AG would be split up and sold, with the Augsberg web press facility going an investment group called L. Possehl & Co. At the time, the administrator announced manroland’s Offenbach sheetfed operation was to be acquired by members of management and an unnamed investor, which now turns out to be Langley Holdings plc.
Langley Holdings is a privately owned British engineering group. The group states it will include 860 employees from Offenbach in its plans, while also taking over the international marketing organization of manroland AG – currently with a presence in 40 countries.
“We foresee very good economic prospects for manroland sheetfed following the recent re-structuring,” said Tony Langley. “This is a world-class business with an excellent reputation and its production – and research and development – facilities are superb; everything one expects of the very best of German engineering.”
All contracts have been signed today, according Schneider, while the transaction itself remains subject to approval of the German cartel office, which he expects to be resolved within a short time frame.
“I am very pleased with the solution which will provide a long-term perspective to the Offenbach location and the sheet fed printing business,” said Schneider. “Tony Langley, sole shareholder of the Langley Group, is well known as a long-term investor who acts strategically. We are convinced that a lasting perspective has been found for manroland’s sheet fed printing business.”
Langley already operates two technology divisions in Germany in the field of capital equipment: The Piller Group in Osterode/Hanover and the Claudius Peters Group in Buxtehude/Hamburg. In 2011, all four divisions of Langley Holdings plc reached revenues of approximately €500 million, with a profit before tax of some €76 million.
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