Sale to Cathay Capital Private Equity

Industrial
Sale to Cathay Capital Private Equity

Summary

Baird served as exclusive financial advisor to Equistone Partners Europe and E. Winkemann GmbH on this transaction

About

Equistone Partners Europe (“Equistone”), and Cathay Capital Private Equity (“Cathay”) have signed a definitive agreement pursuant to which Cathay acquired the majority in E.Winkemann GmbH (“Winkemann”). Equistone reinvested part of its proceeds alongside Winkemann’s management and will remain a minority shareholder in Winkemann. Terms of the transaction were not disclosed.

Equistone is an independent investment firm wholly-owned and managed by its executives. Equistone is one of Europe’s leading investors in mid-market buyouts with a strong, consistent track record spanning over 30 years, with more than 400 transactions completed in this period. Equistone has a strong focus on change of ownership deals and aims to invest between €25 million and €125 million of equity in businesses with enterprise values of between €50 million and €500 million. Equistone has a team of over 35 investment professionals operating across France, Germany, Switzerland and the United Kingdom, investing as a strategic partner alongside management teams. Equistone is authorised and regulated by the Financial Conduct Authority. Equistone is headquartered in London, the United Kingdom.

Cathay is an independent investment firm which capital is held by its managers, with AUM of
c. €2 billion. Cathay manages assets entrusted by third parties from around the world. Cathay is a multi-stage investment platform dedicated to supporting entrepreneurs and management teams in their international expansion. For the past 10 years, Cathay invested in over 85 companies across 3 continents. Cathay invests between €5 million and €75 million of equity per transaction. The transaction was led by Cathay’s Munich-based team.

Winkemann is a manufacturer of high-quality, system-relevant precision stamped parts with a high level of in-house production. Winkemann primarily supplies the automotive industry and has long-lasting relationships with blue chip OEMs and Tier 1 suppliers. Winkemann is headquartered in Plettenberg, Germany.

Equistone acquired the majority share in Winkemann in May 2012. Over the course of the investment, Winkemann has continuously expanded with revenues increasing from approximately €65 million in 2012 to €90 million in 2017. The Company currently employs around 370 people.
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Industrial
Sale to Cathay Capital Private Equity
Date
April 2018
Company
E.Winkemann GmbH
Transaction
M&A
Sectors
Industrial
Target Location
Europe
Acquiror Location
Europe

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