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From corporate orphan to strategic core activity

  • Entry 2003
  • Exit 2005
  • Sales €25 million

PMA is a Kassel-based company specialising in advanced controllers for temperature and pressure measurement. Originally set up in the fifties by Philips Electronics, PMA was acquired by Geveke NV, a company listed at the Amsterdam Stock Exchange. Geveke integrated PMA into its own Industrial Electronics division. Two years later it became clear that PMA lacked commercial trading skills and its manufacturing capabilities did not match the rest of the group. The company had lost its identity, sales were deteriorating and losses mounting.

When Nimbus acquired PMA, we soon realised its potential. The firm was developing great high range products, but they were just not what its former parent company was interested in. Rather than a “problem child”, we saw PMA as a “difficult teenager with excellent prospects”. So we decided to refocus PMA as a premium supplier in the tradition of German engineering quality, serving top customers like Volkswagen and Tetrapak. Not only did this quickly restore the business to profit and develop sales positively, it changed the atmosphere within the company.

Soon thereafter, Danaher, an American company in low-end temperature controllers was seeking opportunities to grow towards the high-end. It was a good match, so after due consideration of PMA’s best interests we decided to allow Danaher to acquire it. This is opening up a whole new world for the business: it is now the key part of a company that views its products as vital to future success. From a “problem child”, PMA has thus been transformed into the “cherished baby” of a global player in its own core sector.

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