Schuhe24 acquires majority stake in used machinery firm Gindumac

Schuhe24 acquires majority stake in used machinery firm Gindumac

Schuhe24 Group has taken a majority stake in the Gindumac (Global Industrial Machinery Cluster) Group, which has locations in Germany, Spain and India and deals in used machinery. Terms were not disclosed. Gindumac operates an online platform for used machinery trading globally, for sellers and buyers of used industrial machinery, and has a turnover of in the double-digit million range. The company primarily buys and sells used machines from the metal, sheet metal and plastics processing industries, including machine tools, sheet metal working machines and injection moulding machines from various international manufacturers.

Munich-based machine manufacturer KraussMaffei Technologies GmbH is also one of the shareholders having acquired a stake in Gindumac in 2018.

Thus, the Founders and Managing Directors, Janek Andre and Benedikt Ruf, will remain on board and following the entry of Schuhe24, the shareholders of the Gindumac Group are now Krauss-Maffei, Leis-Holding, the two founders and Schuhe24.

For the future growth strategy, the partners want to initiate a clear expansion course, which also includes new countries. So far, Gindumac machines are sold in over 30 countries. For Schuhe24, the majority acquisition is an important step in expanding the platform activities.

"Gindumac is a fast-growing and unique platform for machines which are sold worldwide. We have therefore decided to accompany the growth as majority shareholder and to further expand the platform business," says Dr. Dominik Benner, Managing Director of the Schuhe24 Group in Wiesbaden.

Janek Andre, CEO of the Gindumac said, "We started with the aim of digitising the used machinery trading and making it transparent, fair and simple with our online platform. We have successfully achieved this, and we will continue to grow significantly in 2020.”

For Founder/Partner Benedikt Ruf, this is also a signal for the sustainability of the locations: "We have numerous employees in India and our main location is Barcelona. With Schuhe24, we will expand the locations, hire new employees and, above all, recruit more sales representatives in order to double the number of machines on offer.”

"For the year-end closing, we will focus intensively on strengthening our core business and expanding our network for machine procurement and sales. The Corona crisis shows a clear tendency to use want to actively use this for us," continued Ruf.

"When we started in 2013, we were talking about a platform for retailers. In the meantime, we are a platform provider for 8 industries, are developing into a real platform group and will in future actively cover the B2C as well as B2B sectors," says Dominik Benner.

Schuhe24 was founded in 2013 by Dr. Dominik Benner. It now operates eight platforms for various industries, including fashion retail, jewelers, shoes and leather goods. In the B2B sector, the entry into a platform for digital trade fairs (WeWant Shoes / TheBrandShow) took place in 2018, and sales of EUR120 million are planned for 2020. The company is based in Wiesbaden.


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