Private Equity News & Analysis

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.

By
Robert Venes
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Swiss private equity firm Capvis has acquired a majority stake in Lista B+L, a drawer and shelving company headquartered in Switzerland.

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.
 
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.
 
The spokesperson said that Capvis Equity Partners aims to develop Lista B+L for an eventual flotation, including regional and product expansion.
 
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.
 
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.
 
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.
 
Established in 1990, Capvis has invested over SFr billion in 35 mid-market companies in Switzerland, Austria and Germany.