The management of Schrack Technik GmbH and Industrieliegenschaftenverwaltung Aktiengesellschaft. agreed to acquire 60% stake in Schrack Technik GmbH from Hannover Finanz GmbH and GBK Beteiligungen AG (HMSE:GBQ) on March 3, 2015. Eventually, current management will increase its stake to 60% from 40% and ILAG will obtain a minority stake of 40%.

Schrack Technik reported turnover of €200 million and EBIT of €14.5 million in 2014. The transaction still requires anti-trust approval. The closing is expected in the second quarter.

Robert Winkler of WMWP Rechtsanwälte acted as legal advisors for Hannover Finanz. Hanno Schatzmann of Schatzmann Rechtsanwälte acted as legal advisor for management. Stephan Hieke acted as legal advisor for Industrieliegenschaftenverwaltung while Andreas Grave of Deloitte acted as financial advisor.