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- 20170907_RIGDON_final_EN.pdf (353KB)
Prolimity Capital Partners sells tire manufacturer RIGDON
RIGDON, Germany’s largest independent supplier of quality retread tires, headquartered in Guenzburg, recently completed a successful 3-year transformation and re-engineering phase, seeing increases in both revenue and earnings. The Hoerger Group, a family enterprise in the municipal waste management and recycling industry in Sontheim, acquired RIGDON on September 5, 2017 from its previous holder, Prolimity Capital Partners.
Prolimity Capital Partners, an investment and advisory company that specializes in restructuring and transformation, acquired RIGDON at the end of 2014 and, in close cooperation with the RIGDON team, successfully executed a transformation program (“RIGDON 2020”). As a part of this restructuring, numerous improvement projects were put into practice, including:
- Introduction of cost-saving measures and effective controlling tools
- Development of new sales regions and channels
- Establishment of an e-commerce platform
- Formation of strategic partnerships with new tire manufacturers
- Product innovations such as a patented tire sidewall design
- Modification and optimization of production processes
“After the strategic repositioning and operational restructuring , RIGDON is now well positioned for further profitable growth. We are pleased to have won the Hoerger Group as an ideal owner for this growth phase,” remarked Dr. Peter Mauritz, Managing Partner of Prolimity, following the successful signing of the transaction.
Prolimity was advised on the transaction by Dr. Joerg Rhiel and Dr. Andreas Dietzel, Partner and Of Counsel at Clifford Chance (Frankfurt); Dr. Joerg Eschmann, Partner, and Andreas Grille, Principal, both Restructuring & Corporate Finance at Roland Berger (Frankfurt); Dr. Yves Dudli from Industrial Real Estate & Finance Advisor Swiss Real Estate Capital AG (Zuerich).
As Germany’s largest independent truck tire remanufacturer, RIGDON offers innovative tire production and retreading for the most essential tire types. The quality retread tires of the RIGDON brand are used on trucks, light trucks, buses, earth movers, municipal vehicles, tractors and cars (summer, winter and all-season tires). RIGDON offers a top-quality product with years of proven customer satisfaction, due to excellent traction on wet and dry road conditions combined with safety, driving comfort, and low noise levels.
About WRZ Hoerger
WRZ Hoerger is a municipal waste management enterprise located in Sontheim. Since 1970, this family business has been a respected partner in the branch of municipal waste management and industrial and commercial waste disposal. WRZ Hoerger, including its affiliated companies, employs about 550 people.