Munich and Hong Kong; 20 September 2018. AGIC Capital (“AGIC” or “the firm”), the leading European-Asian private equity firm focused on investments in the industrial and medical technology sectors, today announced the sale of Gimatic Srl (“the Company”) to Barnes Group Inc. (NYSE:B or “Barnes Group”) for €370 million in cash subject to certain closing and post-closing adjustments. The transaction is anticipated to close in the fourth quarter of 2018.
Gimatic, headquartered in Roncadelle, Italy, is a leading global supplier of mission-critical solutions for industrial automation and robotic applications in various end markets such as automotive, packaging, healthcare, food and beverage, and consumer electronics.
Heiko von Dewitz, Partner and Managing Director of AGIC in Europe said: “Under our ownership, working closely with Gimatic’s management, the Company has very successfully expanded the business internationally, grown its blue-chip customer base and launched new products for innovative applications. We are delighted that Barnes Group is well positioned and equipped to support and drive the next chapter of Gimatic’s growth.”
“Gimatic is at the forefront of a new generation of factory automation technologies within the Industry 4.0 paradigm,” added Erik Yankulin, a Director with AGIC. “We are impressed with Gimatic’s ability to capitalize on the fast-growing and dynamic market for industrial robot applications, and we believe the company will further extend its leadership position by harnessing synergies with Barnes Group.”
AGIC’s acquisition of Gimatic in 2016 marked the firm’s first majority investment from its AGIC Fund I and its second in a European advanced technology company. Under AGIC’s ownership, Gimatic established new subsidiaries in China and Japan, among others, and expanded its workforce globally. The success of this investment exemplifies AGIC’s strategy and value proposition: investing in leading European industrial technology companies and help them grow their business by providing access to new markets and hands-on business development support. During the investment period, AGIC has worked closely with Gimatic’s management to drive the Company’s expansion in Asia.
Giuseppe Bellandi, Founder and CEO at Gimatic commented: “The development of our company over the past years has been remarkable. AGIC has been an excellent parent and partner, supporting our expansion. China and other Asian markets will continue to be of ever more strategic importance for us as we build on the platform we have created in the region.”
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For more information, please contact AGIC@finsbury.com.
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About AGIC Capital
AGIC Capital (“AGIC”) is a European-Asian private equity fund, which focuses on buyout and growth investment opportunities in Europe. It invests in companies concentrating on industrial productivity & production efficiency, enable new applications & manufacturing methods and drive innovation for industrial products & solutions. Investment opportunities focus on five industry sectors: (1) intelligent production, (2) high-end systems and components, (3) advanced materials, (4) medical equipment and (5) environmental protection technologies. 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. The firm has closed its Fund I, its debut fund, in 2016 with US$1 billion successfully raised and is managed by seasoned investment professionals out of its offices in Munich, Beijing, Shanghai, Hong Kong, and London.
For more information: www.agic-group.com