Odewald KMU has successfully sold its majority stake in Langer & Laumann Group to Norvestor
In 2018, Odewald KMU invested in Langer & Laumann as part of a growth financing and succession plan. During the partnership, Langer & Laumann has developed from an owner-managed company into a Europe-wide market-leading service company in the elevator aftermarket and the succession of the founders was successfully implemented.
Already in 2018, Langer & Laumann was an established provider of door drives in the service business for elevators. During the successful partnership, a succession solution was implemented and numerous growth initiatives were realized. In addition to the establishment of direct sales team in the core markets of DACH and Benelux, the successful internationalization was driven forward with market entries in Scandinavia, France, Spain, the Czech Republic and Poland. In line with the expectations the elevator service market has developed very positively in recent years and continues to offer major international growth opportunities for Langer & Laumann's customized solutions. In addition to the core business, the adjacent segments with door drives for safety doors of machine tools as well as windows have also been expanded and positioned for the future with multiple new partnerships and development projects.
With the broadening of organizational structures, the implementation of professional processes in sales and marketing and the introduction of new IT systems broad investments in the scalability of the company were made, thus laying the foundation for sustainable growth in the coming years.
The targets set at the beginning of the investment were thus overall exceeded.