goetzpartners conducted the commercial due diligence of SGB-SMIT for One Equity Partners

Deal Announcement


Funds advised by One Equity Partners ("OEP"), a middle market private equity firm, announced that it has signed an agreement to acquire SGB-SMIT (or "the Company"), the largest independent, pure-play manufacturer of power transformers. The agreement is subject to regulatory approval, works council consultation and other customary closing conditions, and is expected to be closed in the third quarter of 2017. Terms of the private transaction were not disclosed.


SGB-SMIT supplies transformers to utilities, grid operators, renewable energy OEMs and industrial clients. Headquartered in Regensburg, Germany, its origins date back to 1900. Today, the Company is the leading medium-sized transformer manufacturer in Europe, supplying customers worldwide from six production sites in Germany, the Netherlands, Romania, Malaysia and the U.S. Over the past three years, the Company managed to significantly outgrow its market, reaching EUR 729m in sales in 2016.

SGB-SMIT clearly differentiates itself from competition via its customer proximity in core markets, a strong focus on costs, and customized solutions on short lead times. These characteristics positioned the Company well to help clients to meet increasing electricity demand and benefit from growing maintenance and infrastructure replacement needs in developed markets due to new efficiency regulations and increased grid complexity.

About One Equity Partners

One Equity Partners is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. One Equity is a trusted partner with a differentiated investment process, a broad and senior team, and an extensive track record generating long-term value for its partners. Since 2001, the firm has completed more than 140 transactions worldwide. One Equity, founded in 2001, spun out of JP Morgan in 2015.

goetzpartners Team

Dr. Gerrit Schütte
Senior Manager

Dr. Cedric Duvinage

Christian Garbe
Senior Consultant

Alexander Sigel

Remigius Erhardt
Associate Consultant