Capvis Equity Partners, the Swiss mid-market buyout firm, has bought a majority shareholding in Lista B+L, a Swiss manufacturer of cabinets and workspaces, for an undisclosed sum.
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A spokesperson for Capvis Equity Partners said that the firm invested from its Capvis Equity II fund, which closed on €340 million ($433 million) in 2004. To date, the fund has made six other investments.
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The spokesperson said that Capvis Equity Partners aims to develop Lista B+L for an eventual flotation, including regional and product expansion.
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Fredy Lienhard, a member of the family owners of the Lista Group, maintains a 25 percent holding in Lista B+L while management has also taken a 10 percent stake in the transaction.
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The Lista Group announced in May that, as part of an early succession plan, it was looking for Lista B+L, which provides drawer cabinets, shelving systems and technical workspaces.
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The business has production operations in Erlen (Switzerland), Holliston (USA) and Bergneustadt in Germany, as well as more than 30 sales offices. The company has approximately 800 staff and generated a turnover of more than SFr220 million (€140 million) in 2005.
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Established in 1990, Capvis has invested over SFr billion in 35 mid-market companies in Switzerland, Austria and Germany.
Capvis finds room for Swiss storage business
Swiss private equity firm Capvis has acquired a majority stake in Lista B+L, a drawer and shelving company headquartered in Switzerland.