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The Entrepreneurs’ Group

Possehl Digital and cluetec are joining forces

February 17, 2022

Lübeck, 17 February 2022 – Possehl Digital GmbH, a subsidiary of the Lübeck-based management holding company L. Possehl & Co. mbH, acquires a 45 % stake in cluetec GmbH. There are put and call options for increasing the shareholding. The contracting parties agreed on this last week. Possehl Digital GmbH was thus able to successfully implement its long-term growth strategy in the first full business year following its foundation.

cluetec, the digitalisation expert from Karlsruhe, has been very successfully positioned on the market with its own software products and services for more than 20 years. Digital transformation, professional portals and mobile apps form the core of the company’s development activities. With the cluetec cloud solutions mQuest® and mQuest® Audit, all types of audits, checklists and quality inspections are digitised cost-efficiently and securely – in line with the cluetec motto: “No Paper – No Excel, 100 % Digital”.

The entry of Possehl Digital opens up far-reaching development opportunities for cluetec. “We have continuously expanded our service portfolio and our customer base in recent years. Possehl opens up further versatile and promising opportunities for our company, particularly in the German mechanical engineering sector and also internationally”, says co-partner and one of the co-founders Karl G. Linder.

Possehl Digital was founded at the beginning of 2021 as the tenth and thus youngest operationally independent division within the Possehl Group. In addition to the lead company Possehl Digital GmbH, the company portfolio includes Possehl Online Solutions GmbH and Possehl Analytics GmbH. “In founding our Digital division and building up our digitalisation expertise in the Group holding company, we have consciously taken into account our strengths, namely our decades of experience in the German SME sector, particularly in mechanical and plant engineering, and their needs and requirements“, explains Dr Joachim Brenk, Chairman of the Executive Board at Possehl and also responsible for the digital development of the Possehl Group.

“I am very happy that we were able to convince the shareholders and management of cluetec of the Possehl Digital corporate concept and the associated development opportunities for the company within the Possehl Group. I am sure that with our experience and our overall concept, we will also be able to inspire other innovative digitalisation companies – whether start-ups or already established companies – around the German SME sector to join Possehl”, says Dr Myriam Jahn, Division Manager of Possehl Digital, delighted about the first investment acquisition. In the future, cluetec will continue to develop and implement its own strategy and at the same time benefit from the strengths of a globally positioned group.

 

About Possehl
The Possehl Group, which operates worldwide under the leadership of the management holding company L. Possehl & Co. mbH, is a diversified group with currently ten economically independent, decentrally organised business divisions. The Possehl Group comprises L. Possehl & Co. mbH and more than 200 subsidiaries in over 30 countries. In the financial year 2021, the Group achieved a preliminary turnover of EUR 4.4 billion. Possehl currently has around 13,000 employees worldwide.

The company was founded in 1847 by Ludwig Possehl as a hardware store in Lübeck. Since 1919, the non-profit Possehl Foundation has been the sole shareholder. This corporate structure enables the independence of the Possehl Group and forms the foundation for long-term entrepreneurial decisions.

For further information about Possehl please visit http://www.possehl.de

 

About cluetec
cluetec was founded in 2000 by graduates of Karlsruhe University of Applied Sciences and a Karlsruhe entrepreneur, whose joint vision was to develop apps for the digitalisation of data and processes. Today’s Managing Directors Matthias Helferich, Thomas Rieger and shareholder Karl Linder were also involved.

Using state-of-the-art technologies, cluetec supports numerous companies from a wide range of industries in realising their digitisation strategies. More than 40 experts implement software solutions with the highest security standards according to agile methods.

For further information about cluetec please visit www.cluetec.de

 

Contact
Lutz Nehls
Head of Corporate Communications
L. Possehl & Co. mbH
Beckergrube 38-52
23552 Lübeck
Phone: +49(0)451 148-223
E-mail: lnehls@possehl.de

 

Contact
Sascha Barusic
Art Direction & Marketing
Wilhelm-Schickard-Str. 9
76131 Karlsruhe
Phone: +49(0)721 83179-245
E-mail: s.barusic@cluetec.de

https://www.possehl.de/wp-content/uploads/175-Jahre-Possehl.png 0 0 Melanie Brauer https://www.possehl.de/wp-content/uploads/175-Jahre-Possehl.png Melanie Brauer2022-02-17 12:05:142022-02-21 12:10:53Possehl Digital and cluetec are joining forces

Current press releases

  • Possehl Digital Conference 4.X 2022 December 27, 2022
  • Possehl Group back on a successful track February 21, 2022
  • Possehl Digital and cluetec are joining forces February 17, 2022
  • Possehl Group reports profitable business year 2020 despite the Corona crisis February 12, 2021
  • POSSEHL 4.1: Digital conference in Lübeck November 19, 2020
  • Possehl: Broad-based lineup ensures high level of sales and earnings February 18, 2020
All News

L. Possehl & Co. mbH

Beckergrube 38-52 | 23552 Lübeck, Germany
Postfach 1684 | 23505 Lübeck, Germany

Phone +49 451 148-0
Fax +49 451 148-255
E-mail: info@possehl.de

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Key figures

Possehl at a glance

    2017 2018 2019 2020 2021
Earnings            
Sales € million 3,809 3,764 4,140 4,430 4,360
thereof sales from precious metal trading € million 1,466 1,266 1,537 1,919 1,907
Sales adjusted for the proceeds from precious metals trading € million 2,343 2,498 2,603 2,511 2,453
Earnings result from ordinary operations (EBIT) € million 175 181 173 140 177
Earnings before taxes € million 158 162 153 120 155
Consolidated net profit € million 100 107 93 65 103
Dividends € million 18 19 20 21 30
EBIT ratio* % 7.5 7.2 6.6 5.6 7.2
Return on equity before taxes % 17.2 16.2 14.3 11.1 13.2
             
Net assets            
Balance sheet total € million 1,619 1,788 1,854 1,859 1,950
Economic equity € million 919 1,002 1,071 1,080 1,172
Equity ratio % 56.8 56.0 57.8 58.1 60.1
Working capital € million 600 706 715 645 766
             
Financial position            
Net financial assets € million 366 268 244 355 303
Cash flow from operating activities € million 121 91 184 254 75
Investment in property, plant and equipment and intangible assets (excluding goodwill) € million 71 108 115 91 90
Depreciation of property, plant and equipment and intangible assets (excluding goodwill) € million 58 61 68 73 75
             
Employees            
Employees, annual average   12,413 13,365 13,331 12,995 12,965
thereof domestic   6,708 6,985 6,913 6,872 6,704
thereof abroad   5,705 6,380 6,418 6,123 6,261
* sales adjusted for precious metals contained in the output