With effect from May 31, 2011 the Kajo Neukirchen GmbH bought 100% of the shares in Coveright Surfaces Germany GmbH, a company based in Schöppenstedt near Braunschweig. Coveright Surfaces Germany GmbH produces phenol and melamine films, which are mainly used in the wood-working industry as well as in the furniture, transport and construction industry. The company has 140 employees and generated a medial two-digit million range of sales in 2010.
Coveright Surfaces Germany GmbH was sold by the Coveright Surfaces Holding GmbH, a portfolio company of the Deutsche Beteiligungs AG and the Rhein-Main-Treuhand GmbH.
The Purchaser, the Kajo Neukirchen GmbH, is a family business based in Eschborn near Frankfurt a.M. and specialized in the acquisition of medium-sized family-owned companies and corporate divestitures. The company was founded by Dr. Kajo Neukirchen, who was the CEO of SKF, Klöckner-Humboldt-Deutz (today Deutz AG, Cologne), Hoesch and mgtechnologies (today GEA Group AG) for many years.
On the side of the Kajo Neukirchen GmbH, the transaction was legally assisted by Classen Fuhrmanns & Partner. The partnership conducted the legal due diligence and supported the transaction legally under the leadership of Dr. Dirk Classen.