HgCapital and Capvis Invest in Swiss Fastener Group KVT
HgCapital and Capvis Invest in Swiss Fastener Group KVT
Jason Sandefur
Swiss private equity firm Capvis Equity Partners and European private equity investor HgCapital have agreed to become investors in Swiss fastener group Koenig Verbindungstechnik AG (KVT).
Capvis originally acquired KVT Group for EUR 325 million (US$515.2 million) in July from Debrunner Koenig Holding AG, a fully owned subsidiary of German steel and metals distributor Klockner & Co.
Under the terms of the agreement Capvis and HgCapital will enjoy equal rights as
investors. HgCapital’s investment is about GBP 5.5 million (US$9.93m).
Founded in 1973, KVT supplies 200,000 catalog items, including fastening, connecting and automation systems to the engineering, automotive, electronics and transportation industries, as well as in the medical engineering, aerospace and construction and other industries.
KVT reported 2007 sales of EUR 120 million (US$187m) and earnings of EUR 20 million (US$31.2m). KVT manufactures fasteners at its headquarters in Dietikon, Switzerland, and operates distribution companies in Germany, Austria, Poland, the Czech Republic and the U.S. KVT employs 300 people, including 110 in Germany. Web: kvt-koenig.de
Capvis and HgCapital see further growth potential by attracting additional customers in the global automotive industry.
“Together, we will support KVT’s management in its focused international expansion,” stated Michael Bauer of Capvis. “We are convinced that KVT will extend its market position in existing markets and successfully expand in new markets in the coming years.” Web: capvis.com
Justin von Simson of HgCapital commented on KVT’s healthy margins. “(KVT) is highly profitable and has above average growth rates and fits within our specialist industrials investment sector.” Web: hgcaptial.com �2008 FastenerNews.com
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