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Schaltbau Holding AG sells GEZ Rail Solutions GmbH

  • Rail modernisation specialist goes to Nord West Management GmbH and Niederrheinische Beteiligungsgesellschaft mbH
  • Participating investment of GEZ managing directors Thomas Richter and Peter Bunzeck as shareholders of Niederrheinische Beteiligungsgesellschaft

Munich, 5 December 2022 – Schaltbau Holding AG has signed an agreement to sell GEZ (Gesellschaft für elektrische Zugausrüstung) Rail Solutions GmbH (GEZ) to a group of investors consisting of Nord West Management GmbH and Niederrheinische Beteiligungsgesellschaft mbH. Acting managing directors Thomas Richter and Peter Bunzeck are participating in the transaction through Niederrheinische Beteiligungsgesellschaft mbH by investing as minority shareholders. Following the sale of SBRS Charging Solutions to Shell Deutschland GmbH in October 2022, Schaltbau Holding AG is now selling GEZ Rail Solutions GmbH, the second company to emerge from former SBRS GmbH, as part of streamlining its portfolio. The transaction is scheduled for completion before the end of 2022. The parties have agreed to keep the purchase price and other terms of the transaction confidential.

“We are delighted that Nord West Management and Niederrheinische Beteiligungsgesellschaft have won the structured bidding process. The financial participation of acting management ensures a high level of continuity, both for the customers and for the employees of GEZ Rail Solutions. We have therefore been able to find a very good long-term oriented owner,” says Dr. Jürgen Brandes, CEO of Schaltbau Holding AG.

Sale after the splitting up of former SBRS into SBRS (Charging Solutions) and GEZ Rail Solutions

Up until the end of July 2022, former SBRS GmbH, headquartered in Dinslaken, operated in two different areas of business: firstly, in Rail Solutions, a company specialised above all in refurbishment, specifically the modernisation of trains and railway vehicles, and secondly in Charging Solutions which covers high-performance infrastructure solutions for the e-mobility vehicle fleets of municipalities, transport companies and private companies. In 2021, SBRS GmbH generated revenues of approximately EUR 53 million with a workforce of around 97 employees in these two business lines.

The two areas of business were legally separated, effective 1 August 2022. Since that time, the former Rail Solutions business of SBRS GmbH has operated under the name of GEZ (Gesellschaft für elektrische Zugausrüstung) Rail Solutions GmbH. Charging Solutions remained within SBRS GmbH and was sold to Shell Deutschland GmbH on 31 October 20, 22.

Schaltbau Holding AG is streamlining its business portfolio

With the sale of GEZ Rail Solutions, Schaltbau Holding AG is concentrating its corporate portfolio on three areas of business: Pintsch, a company specialised in rail infrastructure, the Bode Group, provider of vehicle door systems, especially for rolling stock, and the Schaltbau GmbH Group, DC specialist and manufacturer of safety-critical components such as contactors, connectors and switching systems.

Schaltbau Holding AG was assisted by Macquarie Capital as its sole M&A advisor. Gleiss Lutz acted as legal advisor in the context of the transaction.

About the Schaltbau Group

With annual sales in the region of EUR 525 million and around 3,000 employees, Schaltbau Holding AG is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Pintsch, Bode, Schaltbau and GEZ Rail Solutions as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific technological solutions for rail infrastructure, rolling stock, passenger cars and commercial vehicles. As one of the few specialists for smart DC-based energy concepts, the Schaltbau Group is also a driver of innovation in the fast-growing markets of tomorrow such as New Energy, New Industry and e-Mobility.

For further information, go to:


Schaltbau Holding AG
Jutta Lorberg
T +49 (0) 2154 8122 22

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