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PRESS RELEASE
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Next growth steps for Cevotec: Welcome GFM as new partner and shareholder, changes in management
Monday, 12 July 2021

In July 2021, Cevotec welcomes GFM GmbH as new partner and shareholder. GFM has acquired a 49% share in Cevotec from early financial investors who exit their investments after 5 years of supporting the company from the onset. Along with the new partnership, also the management team continues to adapt and grow.

Shaping future innovations: since its foundation in 1945, GFM is recognised as a global leader for high-tech industrial systems tailored to individual customer needs. Their lines of machinery include radial forging machines, milling machines for crankshafts, CNC routers, ultrasonic cutting technology, and automation equipment for composites. The investment in Cevotec broadens GFM's activities in the field of composite processing and creates new technology and business opportunities.

"With GFM as partner, we are entering a new phase of development at Cevotec. GFM shares our vision to empower manufacturers to build complex composites in high volume and quality, and supports us with more than 75 years of experience in high-tech machinery", states Thorsten Groene, CEO and Co-Founder of Cevotec. "We sincerely thank our business angels and our financial investors High-Tech Grunderfonds, Bayern Kapital and Founder.org for their great trust and support throughout the start-up phase of Cevotec."

Michael Kralowetz, President & CEO of GFM, comments, "Cevotec has developed a very impressive technology for automated composites processing and I'm looking forward to their future innovations. We welcome the team to our company group."

Dr. Georg Ried, Managing Director at Bayern Kapital says: 'Both the versatility and scalability of Cevotec's technology convinced us from the very beginning. We are convinced that with this recent growth step, Cevotec is ideally positioned for further successful development in the future."

Dr. Olaf Joeressen, Senior Investment Manager at High-Tech Grunderfonds, about the Exit: "Producing high quality carbon fibre parts in a scalable way has a great future and we are glad that we could support the Cevotec team on their way. With GFM as a partner Cevotec can now grow faster and deliver its strong technology to a broad customer base."

Concurrently to the investment, the management of Cevotec continues to adapt and grow. Felix Michl, Co-Founder and CTO, steps down from his active CTO position and continues to support Cevotec in an advisory role going forward. "It was very exciting to build up Cevotec and bring FPP technology to industry over the last ten years", says Michl. "Having reached this important milestone with GFM, I'd like to focus on new challenges and also spend more time with my family".

From September onwards, Dr. Florian Lenz joins Cevotec as Technical Director and brings more than 15 years of composite experience into the management. Graduated with a doctorate degree from the University of Dresden in the field of composites, he worked for 12 years at LZS GmbH, last in the role of Deputy Group Manager Engineering and as Head of Strategic Business Development and Innovation. "I'm looking forward to joining Cevotec, a company that I've been following for several years now. Together with the dedicated and strong technical team, we will push the state-of-the art in Fiber Patch Placement technology, contributing our part to the automation of industrial composite manufacturing", states Florian Lenz.

"This setup opens up exiting opportunities for Cevotec", concludes Groene. "Especially our customers will benefit as we extent our technical capabilities and global reach. I'm looking forward to leading Cevotec through this next growth phase".

Contact details from our directory:
Cevotec GmbH Computer-aided Design, Computer-aided Engineering, Composite Broad Goods Lay-Up, Prototyping, Composite Manufacturing Services
GFM GmbH Forging, Cutting Equipment, Milling, Composite Tape Lay-down
Related directory sectors:
Composites