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website by Hughes Media
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GOFA has Gas in the Tank for Chart
August 2011
Livingstone Partners’ Industrial team has advised the shareholders of specialty vehicle manufacturer GOFA Gocher Fahrzeugbau GmbH on the sale of the business to Nasdaq listed Chart Industries, Inc. Chart Industries, is a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases.
GOFA, based in Goch, Germany, designs, manufactures, sells, and services cryogenic and non-cryogenic mobile equipment (e.g. gas, tank and bulk vehicles and containers) and has a market leading position in Europe. GOFA has been supplying a variety of customers in the industrial gas, energy, chemical and other industries since 1962.
"Chart's position as a leading manufacturer of cryogenic equipment will facilitate GOFA's geo-graphic expansion. This acquisition creates growth opportunities for GOFA employees that are very exciting for all of us," commented Christa Janssen, Managing Director of GOFA. “We are thankful for the enthusiasm and determination of the Livingstone team which found the best possible buyer for our company and assisted us through the whole transaction process.”
"The acquisition of GOFA is an excellent strategic fit for us by extending our LNG distribution product offering with a company known for high quality and a strong reputation," said Sam Thomas, Chairman, CEO and President of Chart Industries.
"GOFA has excellent sales and service capabilities in a region in which we are enthusiastic about expanding our presence and its products and strong customer relationships are an exciting addition to the Chart D&S portfolio. We look forward to leveraging GOFA's portfolio of mobile equipment in improving our cryogenic distribution solutions worldwide. Of particular interest is the significant global demand for LNG mobile equipment," stated Tom Carey, President of Chart Distribution & Storage (D&S) in which GOFA will operate.
"It was a true pleasure for us to advise the shareholders of GOFA. This transaction demonstrates Livingstone’s skill in advising a typical German Mittelstand company and its shareholders in negotiations with an international corporation while simultaneously resolving an upcoming succession issue by a strategic solution for the company, city and workforce," said Ralph Hagelgans, Managing Partner of Livingstone Partners Düsseldorf. "At the same time the deal illustrates that Mittelstand companies with technological expertise and strong competitive position in niche markets are of extremely high interest to international strategic buyers!"
For further details contact:
Ralph Hagelgans
T +49 211 300 495 23
hagelgans@livingstonepartners.de
Philip Dorsemagen
T +49 211 300 495 35
dorsemagen@livingstonepartners.de