Within the succession plan Avedon acts as the new partner while the four founders of SLF still hold minority shares of the company. Those three founders that are still active in leading positions in the company will reduce successively their operative roles and responsibilities within the succession plan. Avedon and the founders will support together the growth plan of SLF and bring in the common longtime expertise of the founders as well as Avedon’s experience as growth investor in the market of precision ball bearings.

As „Hidden Champion“ in the technology market for spindle units and bearings SLF develops customised solutions and supplies well-known companies of different branches as amongst others engineering, food industry as well as motor and pump manufacturers. The location of production Fraureuth, Saxony, looks back to a history rich in tradition of more than 60 years in the field of production of spindle units and bearings. SLF has been founded in 1993 in the course of insolvency of the predecessor company DKFL GmbH and counts now among the leading German producers of special spindle units and special bearings. SLF’s success story is impressive: Under the leadership of the four founders SLF developed from a small enterprise with 29 employees in 1993 to a strong-positioned, leading manufacturer of spindle units and bearings with 347 employees and a turnover of approx. EUR 49 million today.

The founders and Avdon together plan to support SLF to reach the strategic growth target, to invest in the operative business as well as to develop new market segments. SLF’s market position shall be strengthened particularly with focus on attractive end markets, further increase relating to direct OEM customers as well as international increase.

Dr. Frank Schlegel, founder and Managing Director of SLF, comments the transaction as follows: “When we started initiating the succession process together with Oaklins Angermann and KMS Zwickau in spring-time 2018 it was most important to us from the very beginning that we find a new majority shareholder who knows the branch and who makes sure that our employees have a long-term future at this location. We, foundation proprietors are proud of what we have established together with our partly long-term employees during the last 25 years. With Avedon we have found an ideal partner to realise a smooth transition and with whom SLF will reach a higher league by a targeted internationalisation. We are looking forward to the collaboration with Avedon.”

Hannes Hinteregger, partner at Avedon, adds: “SLF looks back to an impressive success story as a real “Hidden Champion” of German medium-sized companies and we are proud to accompany the prospective growth path of SLF together with the founders. We will use our experience in niche companies in the field of industry and technology as well as particularly in the field of precision ball bearing sector in order to enlarge the internationalisation as well as further specialisation of SLF in the next years.”