• Corporate Finance Transactions

Brown Gibbons Lang & Company Sells Hunnebeck Group GmbH to Harsco Corporation

November 21 2005

Brown Gibbons Lang & Company (BGL), together with its German Global M&A partner, InterFinanz, today announced the completion of the sale of German-based Hünnebeck Group GmbH (Hünnebeck), a portfolio company of an affiliate of Sun Capital Partners, Inc., to Harsco Corporation (NYSE: HSC), a worldwide diversified industrial services and products company. Harsco Corporation acquired all of the stock of Hünnebeck. The transaction is valued at €140 million (approximately $165 million). 

Hünnebeck Group GmbH, based in Ratingen, Germany, was founded in 1929 and today is Europe’s third-largest provider of highly engineered construction formwork and scaffolding access equipment services with more than 60 branches and depots in 12 countries. Hünnebeck’s annual revenues of approximately €145 million (approximately $170 million) include close to 75 percent from Western Europe, including Germany, France, Italy and Scandinavia, with the remainder generated from export sales and emerging markets in Eastern Europe and the Middle East.
 
David Sulaski, managing director and principal at BGL, said, “This has been a successful transaction for all parties involved. Acquired from ThyssenKrupp AG in August 2003, Hünnebeck’s management team and owner did a fantastic job in a very short period of time positioning the Company as a stand-alone entity with impressive financial results, a strong international market presence, and excellent growth prospects. The Company attracted a high level of interest from both global financial and strategic buyers.” 
 
“BGL and InterFinanz has once again proven its ability to capture an appropriate valuation for its client by seamlessly executing a global marketing process for a middle market company,” said Christian Grandin, managing director of InterFinanz.
 
Global M&A UK partner Livingstone Guarantee provided advice to BGL and InterFinanz concerning possible European financing sources and structures.
 
About Brown Gibbons Lang and Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank serving middle market companies and their owners throughout the U.S. and internationally. BGL’s professionals are experts in mergers & acquisitions, debt & equity placements, and financial restructurings. BGL is the U.S. partner in Global M&A, the world’s leading partnership of top-tier independent financial advisory firms focusing on mid-market cross-border transactions. For more information, please visit www.bglco.com.
 
About InterFinanz GmbH & Co. KG
InterFinanz is a leading independent investment house providing mergers and acquisitions, corporate valuations, exit strategies, management by-outs and by-ins, cross-border deals, equity brokerage, and IPO advisory services throughout Germany and Europe. The firm was founded in 1958 and is based in Düsseldorf, Germany. For more information, please visit www.interfinanz.com.
 
About Global M&A
Global M&A is the world’s leading partnership of top-tier independent financial advisory firms focusing on mid-market cross-border transactions with values between €25 and €500 million. The Global M&A partnership consists of 28 members in financial centers spanning the globe. Members have completed over 700 transactions with an aggregate deal value exceeding €15 billion since 2000. For more information, please visit www.globalma.com.
 
About Harsco Corporation
Harsco Corporation is a diversified, worldwide industrial services and products company with annual sales in excess of $2.5 billion. The Company’s four market-leading business groups provide mill services, access services, engineered products and<

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