Schuhe24 Group acquires majority stake in GINDUMAC

Aug 10, 2020 | The Future

The GINDUMAC Group, with locations in Germany, Spain and India, is a pioneer of platform business in the used machinery trading market and is one of the leaders in Europe. The Group’s GMV is in the double-digit million range.

As of October, the Schuhe24 Group entered as majority shareholder. “Gindumac is a fast-growing and unique platform for machines which are sold worldwide. We have therefore decided to accompany the growth as majority shareholder and to further expand the platform business,” says Dr. Dominik Benner, Managing Director of the Schuhe24 Group in Wiesbaden.

The founders and managing directors, Janek Andre and Benedikt Ruf, will remain on board and continue their successful growth course. Following the entry of Schuhe24, the shareholders of the Gindumac Group are thus Krauss-Maffei, Leis-Holding, the two founders and Schuhe24.

“We started with the aim of digitizing the used machinery trading and making it transparent, fair and simple with our online platform. We have successfully achieved this, and we will continue to grow significantly in the Corona year 2020. With Schuhe24 we have gained an ambitious partner who, with its many years of experience in e-commerce and platform business, opens new growth potential for us,” says Janek Andre, CEO of the GINDUMAC Group. For Benedikt Ruf, this is also a signal for the sustainability of the locations: “We have numerous employees in India and our main location is Barcelona. With Schuhe24, we will expand the locations, hire new employees and, above all, recruit more sales representatives in order to double the number of machines on offer”.

The Munich-based machine manufacturer, KraussMaffei Technologies GmbH, which acquired a stake in GINDUMAC in 2018, welcomes the entry of Schuhe24 and the resulting growth potential. KraussMaffei Technologies GmbH will also continue its strategic partnership with GINDUMAC for the used machinery business with plastics processing machinery.

“For the year-end closing, we will focus intensively on strengthening our core business and expanding our network for machine procurement and sales. The Corona crisis shows a clear tendency to use online platforms. We want to actively use this for us,” says Benedikt Ruf, Managing Director of the GINDUMAC Group.

For the future growth strategy, the partners want to initiate a clear expansion course, which also includes new countries. So far, Gindumac machines are sold in over 30 countries. For Schuhe24, the majority acquisition is an important step in expanding the platform activities: “When we started in 2013, we were talking about a platform for retailers. In the meantime, we are a platform provider for 8 industries, are developing into a real platform group and will in future actively cover the B2C as well as B2B sectors,” says Dominik Benner.

Both sides have agreed to maintain silence about the purchase price of the shares.

About the Schuhe24 Group: Schuhe24 was founded in 2013 by Dr. Dominik Benner. It now operates 8 platforms for various industries, including fashion retail, jewelers, shoes and leather goods. In the B2B sector, the entry into a platform for digital trade fairs (WeWant Shoes / TheBrandShow) took place in 2018, and sales of 120 million euros are planned for 2020. The company is based in Wiesbaden.

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