PROFIL VERBINDUNGSTECHNIK

Company overview

PROFIL Verbindungstechnik is a global leader in mechanical joining technology for the automotive industry. Manufacturing support fasteners and the appropriate automated processing technology, the business turns over approx. €200m and employs 500 employees across sites in Friedrichsdorf and Fulda (Germany) and sales offices in Birmingham (UK), Paris, Barcelona, Turin and the US.
 
PROFIL is a 100% subsidiary of the US company PENN Engineering, a global leader in fastening solutions for diverse industries including electronics, automotive and general manufacturing. The majority shareholder of PENN Engineering is a strategic family equity investor.

Brief 

To help drive further organic and inorganic growth, the Board were seeking a strong CFO as a successor to the incumbent who was looking to retire.

Together with the CEO, the CFO would be responsible for setting the strategic direction of the company, playing a wider role in its leadership, and overseeing the overall finance function as well as the IT and HR functions. The CFO would also work closely with the PENN Engineering Group as the direct interface for all finance matters.

The ideal candidate would be an entrepreneurially-minded team player with extensive finance experience from an international automotive or adjacent industrial industry with a similar level of complexity.

As a strategic sparring partner for the CEO and shareholder, sound commercial understanding and excellent financial analysis skills were essential to the role as well as a track record in M&A and private equity.

Process

Following a detailed briefing and meetings with the CEO and incumbent CFO, Directorbank started the confidential search process and built a longlist of candidates that were reviewed and discussed with the CEO followed by a first interview round. A shortlist of final candidates then met the wider PENN management as well as shareholders and took part in a tailored assessment process.

Despite a challenging market environment and COVID-related travel restrictions, the process remained efficient, fast, comprehensive and professional.

Result

Ewa Lohmann is a highly capable and deeply experienced finance professional. Fluent in both German and English, and with strong IT knowledge, she brings very interesting and complementary experience to the role. She also has relevant private equity understanding.

Ewa joins PROFIL from Langley Holdings Plc, a global multi-disciplined engineering group with revenues of €900m. Previously she was Group Head of Finance for MAN Roland Sheetfed GmbH, a global producer of offset printing presses and related technologies.