On Friday 10th September 2010, a management-buy-out was completed at CITO-SYSTEM GmbH. Our long-serving managing partner has acquired a majority shareholding in the company. Mr. Jürgen Mariën now holds approximately 66.5 % of the shares.
The remaining 33.5 % of the shares were purchased by private investors who have all been associated with CITO for many years, either as employees, consultants or business partners. Following the successful management-buy-out, CITO retains all its subsidiary companies, and will continue its previous business activities.
Over recent years, the previous owner, Konrad Methfessel, had largely withdrawn from the active management of the company. The management of the group was therefore already in the hands of the new majority shareholder. The proven management team of Robert Uebler, Gerhard Bodensteiner, René Seick and Oliver Kellermann will of course continue in future to assist the Managing Director in his tasks.
The company policy will not be significantly changed by the new ownership circumstances, since continuity within the CITO GROUP was always the aim of the now completed management-buy-out. We hope that you too will in future continue to place your confidence in us, since the further success of CITO naturally depends heavily on trusting cooperation with yourself.
The previous owner Konrad Methfessel has left the CITO GROUP completely. We would nevertheless like to take this opportunity to confirm that the 28 years of successful cooperation between the former and the present owner created the basis for today’s company group. The respect for the life’s work of Konrad Methfessel constitutes for us an obligation and commitment to add further chapters to the success story of CITO.