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AGIC Capital Announces Acquisition of Gimatic Srl

AGIC Capital Announces Acquisition of Gimatic Srl
13. June 2016 mucagic
  • AGIC acquires large majority stake in Gimatic, a fast-growing and leading Italy-based supplier of end-of-arm tools for industrial automation and robotic applications
  • First solo investment by AGIC and its second in a European advanced technology company, following the joint acquisition of KraussMaffei Group earlier this year
  • AGIC’s investment will accelerate Gimatic’s internationalization and expansion in Asia, in particular China

(Munich and Hong Kong; 13 June, 2016) AGIC Capital, the European-Asian private equity fund focused on advanced technology investments in Europe, today announced the acquisition of a large majority stake in Gimatic Srl (“Gimatic”), the leading Italy-based supplier of “EOAT” (end-of-arm tools) for industrial automation and robotic applications.

The total enterprise value of the transaction is above €100 million. Existing investor Xenon Private Equity, as well as the company’s CEO and co-founder, Giuseppe Bellandi, will also invest in substantial minority stakes.

Gimatic was established in 1985 and is headquartered in Roncadelle in northern Italy. It develops and manufactures advanced pneumatic and mechatronic handling components and solutions for leading international blue-chip end customers and tier one suppliers in the automotive, plastics, electronics, food and pharmaceuticals industries, among others.

Gimatic holds a market-leading position in EOAT, which has evolved into a mission-critical sub-system and enabler for industrial automation and robotic systems. The global industrial robotics market, which was valued at USD36 billion in 2015, is experiencing rapid growth and is forecast to grow at 12% CAGR between now and 2022, driven in large part by China where the market is growing at 14% CAGR[1].

Gimatic has achieved revenue growth of over 20% CAGR over the last three years. In 2015, Europe accounted for almost 80% of the company’s revenue, with Germany and Italy the two main contributors. Asia revenue represented less than 10% of total sales in this period, underlining the significant potential for the business to increase its penetration in Asia, the world‘s fastest growing robotics and automation market.

AGIC’s investment will support Gimatic’s internationalization and expansion in Asia, especially in China. AGIC has already identified and secured commitment to collaborate with Gimatic in domestic Asian markets from a number of Asian and Chinese industrial automation and robotics companies. Furthermore, AGIC continuously  evaluates options to support its portfolio companies including sourcing better financing solutions, driving organic and inorganic growth, delivering operational efficiencies, and leveraging synergies accross its complementary portfolio of companies.

AGIC is the first European-Asian growth capital investor focused on European mid-market industrial technology companies.  The acquisition of Gimatic is AGIC’s first solo investment and its second in a European advanced technology company, after participating in the consortium-led acquisition of KraussMaffei Group in January 2016.

“We are extremely excited about the investment in Gimatic“, said Heiko von Dewitz, AGIC’s Munich-based Managing Partner“Gimatic has demonstrated exceptional growth, built excellent long-term relationships with blue-chip customers and established itself as a market leader and a key innovator of end-of-arm tools. Its significant growth potential is underpinned by a seismic shift in global manufacturing towards industrial automation and robotics, with the market set to more than double in size over the next five years.  This is being fuelled in large part by Asia’s growth in industrial infrastructure developments, fast-growing economies, higher manual labour costs and an increased focus on driving efficiency gains.

“The acquisition of Gimatic exemplifies AGIC’s strategy and value proposition to invest in leading European industrial technology companies and help them grow their business by providing access to Asian markets and hands-on business development support.

Giuseppe Bellandi, co-founder and CEO of Gimatic, added:AGIC is the ideal investor and partner for us.  Their deep understanding of the industrials market and unique dual European-Asian perspective and cross-border expertise will prove invaluable.  Asia, in particular China, is a highly attractive target market for Gimatic’s products, and a key priority for our global growth strategy.  We consider the partnership with AGIC a major milestone towards realizing our vision of establishing Gimatic as the global market-leader of end-of-arm tools.

The transaction is subject to customary closing conditions and is expected to close by the end of June 2016.

For more information, please contact AGIC@finsbury.com

Frankfurt Claudia Kosser: +49 6992187458
Hong Kong James Hill: +852 3166 9868
Marylene Guernier: +852 3166 9886
Karen Yu: +852 3166 9866
Beijing Agnes Zhao +86 1058162688

 

About AGIC Capital

AGIC Capital (“AGIC”) is a European-Asian private equity fund, which focuses on growth investment opportunities in Europe.

AGIC focuses on investments in companies which concentrate on industrial productivity & production efficiency, enable new applications & manufacturing methods and drive innovation for industrial products & solutions. We focus on investment opportunities in the following five industry sectors: (1) intelligent production, (2) high-end systems and components, (3) advanced materials, (4) medical equipment and (5) environmental protection technologies.

AGIC believes in value creation through growth and innovation. The fund supports its portfolio companies in the execution of their buy-and-build strategies, organic growth initiatives and operating improvements. AGIC strongly supports the concept of investing with a business purpose and working closely with the top management of its companies.

AGIC is managed by seasoned investment professionals out of its offices in Munich, Hong Kong, Shanghai and Beijing, which provides AGIC with in depth investment experience in Europe as well as Asia.

The firm launched its Fund I in March 2015, targeting a fund size of USD1 billion. Following a successful first close in August 2015, it is on track to achieve its target through a second close in the third quarter of 2016.

For more information: www.agic-group.com

 

About GIMATIC

Gimatic is a leading end-of-arm tools manufacturer, providing a complete offering of pneumatic gripper solutions (grippers, actuators, linear guides and quick exchangers), mechatronic solutions, and various sensors for automation and grippers to the automotive, packaging, food and beverage, plastics, medical and pharmaceutical industries. The company has an extensive product portfolio and has secured more than 100 patents.

Gimatic is one of the most recognized players in the automation interlocking components field, and has a leadership position in the segment of components for injection moulding machines of plastic parts.

 

[1] Markets and Markets: Industrial Robotics Market, Global Forecast To 2022 (Feb 2016)