Proventis Partners advised the shareholders and management of Twinco (Singapore) and Carl Baguhn (Germany and Colombia) .

PRESS RELEASe

Hamburg, 03. December 2024 – Proventis Partners advised the shareholders of Twinco (Singapore) and Carl Baguhn (Germany and Colombia) on the sale to Zephyr Group.

The Transaction

Zephyr Group widens its geographical reach and product offering by integrating Twinco Ltd, based in Singapore and established in 1994, focused on diesel engines spare parts and services for the marine and power plant industries in the Asia-Pacific region, and Carl Baguhn GmbH & Co KG, a 100+ years company based in Hamburg (Germany) specialized in maintenance, repair and sales of diesel and gas engine components, also active in Central-South America via its subsidiary based since last decade in Barranquilla (Colombia). Carl Baguhn is also renowned for custom fabrication of repair-size plain bearing, as well as for in-situ repairs for crankshafts and engine blocks carried out around the globe.

After this transaction, the newly formed group will become the leading independent provider of advanced quality solutions for diesel, gas and new fuel engines, with a remarkable footprint strategically spread around the globe, able to provide an even more complete portfolio of spare parts and services for most of the existing engines, serving thousands of clients and their ships and power plants worldwide.

Existing activities, partnerships and client / supplier relationships will continue successfully as it has been in the past but, at the same time, they will be able to leverage on enhanced group scope and different capabilities arising from each companies’ specializations.

“We are thrilled to announce such a remarkable event in the industry – said Paolo Castagnet, Managing Director of Zephyr Group – the combined strengths of the six entities will allow their respective clients and suppliers to extract additional value: consolidating the industry will bring unimaginable benefits to all stakeholders”

The Role of Proventis Partners

Proventis Partners supported the shareholders and management of Twinco (Singapore) and Carl Baguhn (Germany and Colombia) throughout the entire M&A process. Services included the preparation of all transaction documentation, the identification and approach of suitable investors, the coordination of due diligence and the commercial negotiation of the transaction. The transaction team of Proventis Partners consisted of Jost Hartmann (Partner), Axel Steffen (Senior Advisor) and Leon Holtmann (Associate).

About Twinco (Singapore) and Carl Baguhn (Germany and Colombia)

Twinco as well as Carl Baguhn are well recognized, highly skilled service partners for the marine and power industries. The companies combine workshops and on-site service with the supply of OEM spare parts. Carl Baguhn Hamburg, founded in 1905, is a quality-oriented solution provider with more than 100 years of experience, supplying original spare parts and field services for the marine and power industry. Carl Baguhn Baranquilla, founded in 2019, is the innovative partner for maintenance, repair and sales of diesel engines for the marine and power industry. Twinco, founded in 1994, is a specialist distributor for European OEM large diesel engine spare parts in Asia, serving the marine and power industry.

For further information about Twinco please refer to www.twinco.com.sg

For further information about Carl Baguhn Hamburg please refer to www.carlbaguhn.de

For further information about Carl Baguhn Barranquilla please refer to www.carlbaguhnbaq.de

About Zephyr Group

Before the acquisition, Zephyr Group was composed of three entities: Zephyr, headquartered in La Spezia (Italy), a 50-year-old distributor of quality spare parts (genuine and OEM – Original Equipment Manufacturer) for slow, medium and high speed diesel engines used in marine and power plant industries; Skandiaverken, located in Bilbao (Spain) and born from the merge of its Swedish activities with Kincaid (Scotland) and Echevarria (Spain), a former engine producer, specialized in maintenance and repair services for MAN and Yanmar engines; and PK OEM Parts, based near Rotterdam (Netherlands), focused on quality and OEM (Original Equipment Manufacturer) spare parts suitable for Wartsilä engines. Zephyr Group is a portfolio company of DeA Capital.

For further information about Zephyr Group please refer to www.zephyr-group.eu