Capvis plays it safe with BARTEC

The Swiss private equity firm has bought a manufacturer of explosion protection devices in a transaction that has been valued at roughly €325m. The deal represents an exit of undisclosed size for Allianz Capital Partners, which purchased the German company six years ago.

Capvis Equity Partners, the Swiss private equity firm, has bought BARTEC, a safety technology company focusing on hazardous and explosive substances in industry, from Allianz Capital Partners. The deal is worth between €300 and €350 million ($465 to $542 million), according to a source close to the deal.

Allianz purchased the company for an undisclosed amount in 2002.

Daniel Flaig, the partner at Capvis who led the deal, told PEO that, as a supplier to the oil and gas, mining and petrochemicals sectors, BARTEC is well positioned to capitalise on the global energy services boom.

“BARTEC’s major clients are in the energy and chemical sectors, so it is profiting from a major trend,” said Flaig.

Under Allianz’s ownership, BARTEC expanded its international distribution channels significantly and established joint ventures in Russia and China. Capvis intends to further develop the company’s international connections.

In late July, Capvis bought Koenig Verbindungstechnik, a Swiss manufacturer of fastening and sealing products, from trade seller Debrunner Koenig Holding.

Capvis is currently investing its third fund, having raised CHF1 billion ($995 million; €628.8 million), as reported by PEO in February this year. It invests in companies with a turnover of between €50 and €500 million, and prefers to acquire a majority stake. It invests a minimum of €15 million in each transaction.