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PRINT THIS PAGE HgCapital partners with Capvis in �325m acquisition of Koenig Verbindungstechnik19/09/2008. Source: AltAssets. 
 European private equity investor HgCapital has agreed to join with Swiss private equity firm Capvis in its �325m acquisition of connection systems company Koenig Verbindungstechnik.
Capvis originally acquired KVT in July of this year. As part of the agreement Capvis and HgCapital will enjoy equal rights as investors, according to a statement.
KVT manufactures fastening and sealing technology products at its headquarters in Dietikon in Switzerland and operates distribution companies in Germany, Austria, Poland, the Czech Republic and the US. The company employs over 300 people. In 2007, KVT recorded sales of approximately �120m.
Michael Bauer, Capvis, said, 'We are delighted to have found an additional strong partner for KVT in HgCapital, which shares our investment philosophy. Together, we will support KVT's management in its focused international expansion. We are convinced that KVT will extend its market position in existing markets and successfully expand in new markets in the coming years.'
Justin von Simson, HgCapital, added, 'KVT is exactly the type of business that HgCapital likes to invest in. It is highly profitable and has above average growth rates and fits within our specialist industrials investment sector. We look forward to working with Capvis to support KVT and its management to accelerate the group's growth following its buy-out from the Kl�ckner Group.'
Capvis invests as majority shareholder primarily in mid-sized companies in Switzerland, Austria and Germany. In March of this year, the firm closed its Capvis Equity III fund on �600m.
Copyright � 2008 AltAssets
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