Munich, November 12, 2019 – ACDCURAM Group AG, headquartered in Munich, has signed an agreement with family entrepreneur Ingo Steinel to acquire a majority stake in the STEINEL Group, based in Herzebrock-Clarholz, Germany. Ingo Steinel will remain a shareholder and continue as managing director. Through this transaction, ADCURAM intends to use its broad knowledge and wealth of experience to provide significant support to the Steinel Group in implementing its growth strategy. The transaction is still subject to approval by the competition authorities. Approval is expected by the end of the year. STEINEL’s success story as a technology and innovation leader in the field of sensors, sensor lights as well as hot air and hot glue guns is to be continued jointly.

A comprehensive press release will follow shortly.