Burckhardt Compression: Renewal of MBO shareholder group agreement
December 15, 2020 | Ad hoc announcement
The MBO shareholder group who participated in the management buyout transaction in 2002 and who initiated and conducted Burckhardt Compression’s IPO in 2006 has informed the Company that it will extend its shareholder agreement ahead of schedule for another five years, to May 2026.
The Management Buyout (MBO) shareholders have decided ahead of schedule to again enter into a new five-year shareholders’ agreement with a term until May 2026. The last shareholders’ agreement was concluded in 2016, with a term until May 2021. Ton Büchner, Chairman of the Board of Directors: “We greatly appreciate that Burckhardt Compression can continue to count on the commitment of this stable anchor shareholder group”. The stake held by the shareholder group amounts to 12.3%. Valentin Vogt, representative of the MBO shareholder group: “With the renewal of the shareholder group agreement for another five years we reaffirm our long-term dedication as shareholders of Burckhardt Compression”.
In April 2002 the Sulzer Corporation divested the Sulzer Burckhardt division through a management buyout. Five members of Sulzer Burckhardt’s management together with the financial investor Zurmont acquired the company. The former Sulzer division has since operated under the name Burckhardt Compression. In June 2006 Zurmont sold its entire stake in Burckhardt Compression through an IPO. At the time of the initial public offering, the five members of management, who then owned 20.9% of the Company’s shares, concluded a shareholder agreement, which has already been extended several times in the past.