Private Equity News & Analysis

Auctus sells furnace maker to DZ Equity

The Munich-based private equity firm has sold its majority stake in ZPF therm Maschinenbau after two-and-a-half years to DZ Equity Partners, the Frankfurt-based private equity arm of DZ Bank.

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Small- and middle-market private equity firm Auctus has exited its investment in industrial furnace manufacturer ZPF therm Maschinenbau to private equity firm DZ Equity Partners, a subsidiary of Frankfurt, Germany-based DZ Bank.

Auctus, headquartered in Munich, Germany, acquired a majority stake in ZPF in 2006 as part of a management buy-in.

ZPF’s sales and profits have approximately doubled during the course of Auctus’s holding period as the result of strengthening management, professionalising internal operations and international growth, said Auctus in a statement.

Auctus is interested in making further acquisitions in the industrial furnaces sector as well as the aluminium and casting industry.

Auctus closed its second fund on €39 million in October 2007. Together with its evergreen fund, the firm has committed capital of more than €150 million ($217 million).

The firm focuses on German companies with €20 million to €150 million in sales. The Auctus team of 11 investment professionals co-invests 8 percent of every deal.