System Lift ends partnership with private equity pair
13 January 2025
German-based rental firm cooperative System Lift has ended its partnership with two of its member companies.
The decision for System Lift to part ways with Dornseiff Arbeitsbühnen and Ferdinand Scheurer came due to them both being part of the DID Group, which is now majority owned by private equity firm Aurelius Investments, rather than it being directly managed by its owners.
“This step was not easy for us, but it is necessary in order to preserve the fundamental values as an association of owner-managed companies and to ensure the future strength and stability of our network,” said Malte Bilau, CEO of System Lift.
Photo: System Lift AG
Fellow board member Christopher Friedrich added, “The Scheurer takeover by DID in 2020 was the first non-owner-managed company within the System Lift community.
“With the takeover of Dornseiff Arbeitsbühnen, which was completed last year, there is now a clear trend away from the purely owner-managed group of companies.
“This decision was therefore unavoidable, even if it was extremely difficult for us in view of the long-standing close relationships with Scheurer and Dornseiff.’
Significant risk
DID Managing Director Frank Scheidt and the management teams of the two partner companies were informed of the decision last week.
System Lift pointed out that the main drive of a private equity investor is to sell a company portfolio through acquisitions and consolidation with value appreciation. “This approach harbours significant risks for the stability and long-term development of the community on several levels,” added Bilau, “and scenarios such as acquisitions by competitors could occur that are not in line with our overriding principles,”
To ensure fairness to all parties, separation from Dornseiff Arbeitsbühnen and Ferdinand Scheurer will take place over almost a full year to 31 December 2025.
In a statement System Lift’s Supervisory Board fully supported the step. “The management board has made a difficult but correct decision in the interests of the community.
“System Lift stands for strong owner-managed companies,” continued Fabian Markmann, Chairman of the Supervisory Board.
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