Capvis has acquired a majority shareholding in safety technology company BARTEC for an undisclosed amount from Allianz Capital Partners, which acquired the company in 2002.
Capvis has acquired a majority shareholding in safety technology company BARTEC for an undisclosed amount from Allianz Capital Partners, which acquired the company in 2002.
The BARTEC management will continue to be a minority shareholder.
Germany-based BARTEC is a provider of industrial safety technology. The products and services of the company are applied where hazardous substances such as combustible liquids, gases and dusts are used.
A team, led by Philip Meyer-Horn from investment bank Greenhill, provided M&A advice and helped secured Capvis committed financing through Commerzbank.
Lead legal and tax advisers for the deal was Latham and Watkins, led by partners Dr. Christian E. Edye and Dr. Götz T. Wiese. They provided tax due diligence, negotiation of the agreement, acquisition structure and finance advice.
BARTEC chief executive Dr Ralf Köster commented “We rely on investments in new products and services together with the further internationalisation of the group.”
It is the second deal within a month for Capvis, as last month it acquired German steel and metals trader Kloeckner for €325 million (£260.4 million). Capvis manages funds totalling approximately €1 billion (£800 million). In March of this year, the firm closed its Capvis Equity III fund on €600 million (£480 million).
BARTEC achieved a turnover of more than €200 million (£160 million) in the past financial year.
