“Nimbus prepared Heller for a bright future in the hands of a new owner.”
Frank Schubert, general manager ITW Heller GmbH Dinklage
“A pleasant and open collaboration with bright people.”
Heller is a German company that develops and manufactures drill tools, chisels and saw-blades. During the nineties, the business got in serious trouble and was in need of an extended turnaround. His predecessor had spent 18 months supervising the process, when Dr. Frank Schubert became general manager.
“Off course I was suspicious. It is only so common for an investor to chop up a company and sell it in chunks to the highest bidder. The prospect of managing a sinking ship was not exactly tempting. My concerns proved to be irrelevant: first of all, we were able to invest our profits completely, leaving just a modest management fee for Nimbus. Secondly, I felt respected and free to act: their involvement consisted of coaching the management rather than controlling it.
For over a year we received excellent support regarding financial control. Day to day issues got sorted out with just a phone call. Together, we were able to rebuild the company to such a level that it was ready for acquisition. I had a big say in the choice of a solid partner for the takeover. Eventually, our shares were transferred to Illinois Tool Works Inc. And although I am certain that there were higher bidders, both Nimbus and Heller agreed that ITW was strategically the best choice. Today, Heller is doing better than ever.”