TRANSACTION ANNOUNCEMENT

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CornerstoneCapital acquires majority stake in ELTEC Elektronik AG

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Wiesbaden, December 9, 2011

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On December 6, 2011, the Mainz District Court officially confirmed the termination of the insolvency proceedings for ELTEC Elektronik AG. With the entry of an investor group into the Mainz-based technology company, the last suspensive condition has been met, securing the future of the company. The additional financial resources ensure that creditors will be fully satisfied by the end of 2011 under the insolvency plan. The necessary funds were made available in advance through a capital increase.
 

Dieter Gebert, the long-standing CEO, expressed great satisfaction with ELTEC's economic development in recent months and the entry of the new shareholders. On October 28, the financial investors, CornerstoneCapital Verwaltungs AG from Frankfurt and EiKaM GmbH & Co.KG from Stuttgart, introduced themselves to the employees as the new majority shareholders.

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ELTEC chose the modern insolvency plan procedure with self-administration – similar to Chapter 11 – which made the successful restructuring of the company possible. In particular, the customers showed great trust in ELTEC during this phase and provided their unwavering support. "We owe them our great thanks," said the court-appointed trustee, Dr. Petereit from Mainz, who oversaw the insolvency legally and professionally and supported customer loyalty as a trustee.

About CornerstoneCapital and EiKaM

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CornerstoneCapital is an equity partner for growth capital in established growth companies and management buyouts, with a focus on technology-oriented companies. EiKaM – Equity for SMEs – offers customized financing solutions for future-oriented companies, including equity for succession solutions and growth financing.