Possehl buys into Lübeck-based software company cbb

The Lübeck-based conglomerate Possehl has acquired 50 % of the shares in the local company cbb software GmbH. This has been agreed by the parties involved. The other 50 % are held by the former sole shareholder Professor Dr Cecil Bruce-Boye.

Since its founding in 1994, cbb has undergone continuous further development. In addition to the company’s headquarters located near the Lübeck University of Applied Sciences campus, cbb maintains two subsidiaries, one located in Central Germany and one in the South of Germany. Employing more than 50 staff, the company provides IT services to both the automotive and general industry. The company’s business activities predominantly focus on offering software solutions for digitisation in the energy sector as well as in the fields of industrial engineering, production- and testing technology. cbb’s customers include public utility companies and municipal energy suppliers as well as renowned globally active businesses operating in the automotive-, food- or steel industry.

“We support our customers by providing them with highly-efficient modern software architectures to digitise their processes. This usually involves harmonising the IT infrastructures of production lines as well as optimising production processes and making them more flexible. In the same vein we digitise the service processes applied in the energy sector and by companies operating in energy-intensive industries. The idea behind energy monitoring and load control is to make integrating renewable energy systems both environmentally sound and economically efficient. Complex arrangements necessarily entail large amounts of data. We successfully implement standard solutions as well as special technologies - which we have developed and refined over several years - for the digitisation of process-relevant data. Secure data management including intelligently compressing, evaluating and feeding back large amounts of data in order to generate further added value increasingly ranks high on our customers’ requirements lists. Fuelled by the ongoing trend towards electromobility, more and more of our clients operating in the automotive industry rely on our competencies in the fields of digitising and energy management. This partnership with Possehl as a strong business partner offers both companies various additional opportunities for growth and development, also, and in particular, abroad. Standing shoulder to shoulder with Possehl, I am thrilled about tapping these future markets in a manner that creates added value”, says Professor Dr Bruce-Boye.

For Possehl, acquiring a participating interest in cbb software GmbH means more than just a financial investment. “cbb operates in a rapid growth market. ‘Industry 4.0’ is currently the catchword on everyone’s lips. When it comes to our existing activities – in mechanical engineering in particular – cross-linking the virtual with the real world plays an increasingly important role. This is where cbb and their comprehensive know-how can certainly support us and drive us forward”, says Dr Joachim Brenk, member of the Management Board at Possehl, adding: “What is more, we are extremely pleased that, for the first time in a long while, we have been able to realise an acquisition in Lübeck, our hometown.”

Long-term plans are for cbb to operate as a joint venture run by the current shareholders.

About Possehl
The Possehl Group, operating worldwide under the leadership of Management-Holding L. Possehl & Co. mbH, is a diversified corporate group currently comprising eight decentrally organised business segments that are economically independent of each other. In addition to L. Possehl & Co. mbH, the Possehl Group comprises more than 160 subsidiaries in more than 30 different countries. In the financial year 2016, the Group generated revenues of 3.9 billion Euro. Possehl currently employs around 12,500 people worldwide.

The company was founded in 1847 by Ludwig Possehl as a local hardware store in Lübeck. Since 1919, the nonprofit Possehl Foundation has been the sole shareholder. This corporate structure enables the Possehl Group to operate independently and provides the basis for long-term entrepreneurial decisions. For further information about Possehl please visit www.possehl.de.

Contact
Lutz Nehls
Head of Corporate Communications
L. Possehl & Co. mbH
Beckergrube 38-52
23552 Lübeck
Phone: +49(0)451 148-223
eMail: lnehls@possehl.de

Press Release as pdf file

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