A major restructure is planned for German AWP manufacturer Bally Wulff.
The Schmidt Family, leading operators in Germany that bought out the company in 2008, is to split off the machine maker and undertake a shares exchange.
Bally Wulff is headed by Ulrich Schmidt on behalf of the family. He will exchange his shares in Schmidt Gruppe Entertainment and Fitness, operating under the FitX brand, with members of the family in return for the shares in Bally Wulff.
In a statement from the company, the move is to “secure Bally Wulff’s future and continue to build up its national and international market share.”
It added that Ulrich Schmidt is currently carrying out a major investigation into different opportunities for strategic partnerships. “Possible options include a minority shareholding by the Gauselmann Group,” although it is noted that there may be competition law restrictions affecting such a move.
Said Ulrich Schmidt: “I view the great success of our new LUX generation and the excellent conversions to TR 5 at Bally Wulff as testimonials of our success in the German market. With a suitable strong strategic partner by our side, our products will quickly achieve further significant increases in market share both nationally and internationally. I am optimistic about concluding talks with possible partners in the near future.”
