“Nimbus helped Union Chemnitz pave the path towards a solid market presence.”
Sieghard Bender, trade unionist Metal-Electro; director of IG Metall
“Nimbus is a distinct and unique organization that clearly differs from other equity investors.”
Union Werkzeugmachinen GmbH in Chemnitz, Germany, goes back a long way. Besides, Union Chemnitz has a unique structure: its employees participated in the company management and had a vote in decisions. A shared ownership that enabled the workforce to benefit from any increase in the company’s value could create a potential controversy during negotiations, feared trade unionist Sieghard Bender:
“Union was in need of a strategic partner, capable of financing its growth strategy. Nimbus’ open approach and their willingness to put forward new ideas and suggestions were striking from the very outset. Besides, they made clear that respecting the interests of both the works council and the metalworkers’ trade union was an obvious matter; they even pledged to retain the system of employee participation in the decision making process.
Currently, Union is performing well. The order book is healthy and the construction of new production facilities will help to raise capacity. Together, the recent developments have had a positive impact on the workforce as well. Many of the positive changes I have seen within the organization are directly attributable to Nimbus’ open approach and the dedicated focus on worker participation. Nimbus clearly differs from any other equity investors.”