New investment structure as a result of management buy out
The management team at Schrack Energietechnik GmbH, consisting of three Managing Directors– Wilhelm Großeibl, Viktor Eßbüchl and Norbert Kasper took on 15% of the new company Schrack Technik International GmbH in 2005.
The "Hannover Finanz Gruppe" is a strong partner, holding 84% of the shares. Both partners were supported by an Austrian banking consortium made up of Investkredit and Raiffeisen-Landesbank WNÖ.
"I am prepared to go anywhere, provided it be forward." David Livingstone, explorer
In the early 1990s, the company was created from Schrack AG, which had made a name for itself in the industrial history of the previous century.
Back in 1914, Dr. Eduard Schrack’s invention of a stereometrical optical device for use in surveying land soon made people look up and take notice. In 1918 he developed the first Austrian radio valve to be produced industrially.
SCHRACK AG was founded in 1920, and for the next few decades principally handled the development, production and sale of telephone systems, radios, safety switches, and fire alarm systems. Over the course of its long history, Schrack has developed into a technology company combining system solutions with a strong brand:
In the early 1990s, the SCHRACK product range underwent a large-scale expansion as the company took its first steps towards expansion into Eastern Europe. Today, Schrack has its own subsidiaries in 9 countries, and is represented by partner companies in more than 40 others.