DGAP-News: Zurmont Madison Private Equity acquires majority shareholding in AKAtech
(firmenpresse) - EquityStory AG-News: Dynamics Group AG / Key word(s):
Acquisition/Private Equity
Zurmont Madison Private Equity acquires majority shareholding in
AKAtech
06.03.2012 / 17:49
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Press release
Zurmont Madison Private Equity acquires majority shareholding in AKAtech
Zurich/Frankenmarkt - 6 March 2012: Zurmont Madison Private Equity L.P.
('Zurmont Madison') has taken a 55% stake in Austrian company AKAtech
Produktions- und Handels GmbH ('AKAtech') - a specialist in high-quality
electromechanical assembly and the manufacture of complex wiring harnesses.
This means that the company, which has production facilities in Austria and
Slovakia, will receive financial and industrial support in implementing the
next steps towards growth. The parties have agreed not to disclose details
of the purchase price. Completion of the transaction is subject to approval
by the local competition authorities.
AKAtech Produktions- und Handels GmbH ('AKAtech'), which has its head
office in the Austrian town of Frankenmarkt, was founded in 2001 and
currently employs around 350 people at three production facilities in
Austria and Slovakia. The company is certified in accordance with several
international standards and assembles semi-finished goods, as well as
complete systems and devices, for customers all over the world. Its high
level of expertise in electromechanical production is primarily used for
applications in the fields of mechatronics and medical technology. At the
same time, the company has also established itself as a specialist in the
manufacture of high-quality wiring harnesses. The group generated sales of
more than EUR 30 million in 2011.
The involvement of Zurmont Madison means that AKAtech will have a strong
partner, while the previous owners will remain actively involved in the
running of the company. Zurmont Madison's majority interest (55%) will open
up access to solid financing solutions for AKAtech and help in the
implementation of its ongoing growth strategy. This will enable the company
to gain a competitive advantage in the attractive electromechanical
assembly market and provide a more comprehensive service for customers.
AKAtech will continue to be led by the long-established management team
under Michael Farthofer.
Kurt Hitz, Partner at Zurmont Madison, says: 'We are excited about working
with the AKAtech team to take the next steps towards growth. Zurmont
Madison will provide both the financial and industrial support needed to
implement the planned growth measures.'
Michael Farthofer, Managing Director at AKAtech, adds: 'After experiencing
rapid growth over the past ten years, the company now faces the next step
towards internationalisation. In Zurmont Madison, we have found a partner
that will not only provide us with financial backing during this
development stage, but will also support us in terms of strategy. In
particular, the synergies with Zurmont Madison Group shareholdings
featuring similar setups to ours lead us to expect the company to continue
to develop in a healthy manner.'
About Zurmont Madison Management AG
The funds advised by Zurmont Madison (www.zurmontmadison.ch) have invested
around CHF 500 million in equity to finance corporation succession, MBOs
and spin-offs of group companies in Switzerland, Germany and Austria.
Currently, the Zurmont Madison Private Equity L.P. fund has a volume of CHF
250 million and owns five majority shareholdings: Röder Zeltsysteme und
Service AG in Germany; SMB SA in Ticino; CLS Communication AG in Zurich;
Bauwerk Parkett AG in St. Margarethen; and CCS Holding AG in Lyss.
For further information please contact:
Zurmont Madison Management AG Press Office
c/o Dynamics Group AG
Edwin van der Geest / Philippe Blangey
Tel. +41 43 268 32 32
End of Corporate News
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