Avedon Capital Partners has acquired German saw manufacturer Altendorf.

The buyout firm has bought its majority stake from the company’s founding family. Current Altendorf managing directors Jorg Mayer and Wolfgang Ruhnau have taken minority shareholdings.

Based in Minden, Altendorf has been manufacturing saws for 110 years. It employs 250 people and generated turnover of €40m last year.

“Altendorf is not only a strong and healthy company, but a real Mittelstand champion with strong growth potential, organically and externally,” said Avedon partner Hannes Hinteregger.