Munich/Gütenbach — Funds advised by Equistone Partners Europe (“Equistone”) acquire a majority stake in RENA Group. The company, headquartered in Gütenbach in the Black Forest, builds technologically advanced equipment for wet-chemical surface treatment and employs around 800 people worldwide. The sellers are funds advised by Capvis AG. The management team around RENA CEO Peter Schneidewind is also taking a stake in the company as part of the change of ownership, thereby committing itself to RENA for the long term. The parties have agreed not to disclose details of the transaction. The sale is still subject to approval by the relevant antitrust authorities.
RENA was founded in 1993 and is the leading global equipment manufacturer in the field of wet-chemical surface treatment. The globally active high-tech company addresses customers from the semiconductor sector, medical technology as well as the renewable energy industry and glass processing. With three production and R&D sites in Germany and Wikroty, Poland, and sales and service locations in Asia, for example in China and Singapore, as well as in North America, the company has a strong international presence. RENA recently achieved an annual production output of over 120 million euros.
Together with Equistone, RENA aims to continue to grow in existing segments and expand its technological market leadership. The company’s pronounced strength in research and development will continue to be a key building block for this in the future. In addition, partnerships with existing customers are to be intensified and new customer groups are to be developed for RENA’s innovative, high-quality machines and systems.
“We are impressed by RENA’s market position, which is based primarily on innovative technology, high quality, long-standing customer relationships as well as its strong management team,” said Stefan Maser (photo), partner at Equistone. David Zahnd, Investment Director at Equistone, added: “Together with RENA’s management team and employees, we intend to consistently continue the company’s growth trajectory, promote research and development and expand into new markets and regions.”
Peter Schneidewind, CEO of RENA, comments: “We are very pleased to have Equistone as a reliable and financially strong new partner that will support our further growth. For us, this is a clear sign to secure and expand our sites. Together with our customers, we will develop additional individual applications and launch new intelligent solutions for wet-chemical surface treatment — worldwide.”
On the Equistone side, Stefan Maser, David Zahnd and Tanja Berg are responsible for the transaction. The mid-market investor was advised by goetzpartners (Commercial), KPMG (Financial & Tax), Latham & Watkins (Legal), ERM (Environmental), Sherman & Sterling (Legal Financing) and GCA Altium (Financing).
About Equistone Partners Europe
Equistone Partners Europe is one of Europe’s leading equity investors with a team of more than 35 investment specialists in six offices in Germany, Switzerland, France and the UK. Equistone primarily invests in established medium-sized companies with a good market position, above-average growth potential and an enterprise value of between EUR 50 and 500 million. Since its founding, equity has been invested in more than 140 transactions, mainly mid-market buy-outs. The portfolio currently comprises over 40 companies across Europe, including around 20 active holdings in Germany, Switzerland and the Netherlands. Equistone is currently investing from its sixth fund, which closed in March 2018 with €2.8 billion at the hard cap. www.equistonepe.de