Technotrans SE

Technotrans is an internationally leading technology and service company specialised in thermal management applications for diverse end markets such as energy management, healthcare & analytics, print, plastics and others

Frankfurt Stock Exchange


Stock exchange

20.12% (1)


€ 238m

Turnover: Ca. (2022)


Date of acquisition

Registered office
Sassenberg, Germany
Business Sector

Technology and service company specialised in thermal management applications.

Investment thesis

Our investment thesis is based on the following investment attractions:

  • Leading thermal management specialist for technologically demanding applications with strong market positions in focus markets
  • Positioned in attractive end markets with long-term structural growth prospects, especially in new markets like energy management/storage and healthcare, complemented by very resilient historic markets (printing industry)
  • Well-balanced value creation potential between continuous growth and margin improvement
  • Asset-light business model with a high service share (~25% of sales) and a strong cash generation potential
  • Significant M&A potential after Technotrans established a scalable organization in a highly fragmented market


  • Integration of previously independent entities contributed to attractive synergy realizations (e.g. harmonisation of go-to-market approach under a single brand, centralized procurement, consolidation to a common ERP system, etc.)
  • Implementation of group-wide efficiency programs (e.g. lean production, establishment of flexible production sites, etc.)
  • Strengthening of the Management Board with new CEO and CFO appointed in 2020 and 2022, respectively
  • Supervisory Board reshuffled since 2020, with Luxempart representative S. Reppegather elected to the Board in 2022

(1) as of latest voting rights notification (08/03/2022)