Capvis seals second Italian deal

The German-focused firm has so far made two investments from Capvis Equity IV

Capvis Equity Partners, a Switzerland-based buyout firm, has agreed to acquire Faster, an Italian manufacturer of quick-release couplings used in a wide range of areas including agricultural machinery and air-conditionings, from UK-based Argan Capital, according to a statement.

Financial details of the deal were undisclosed. Capvis declined to comment on deal financials, while Argan did not respond to a request for comment at press time.

Italian-based Faster is headquartered in Rivolta d'Adda, near Milan and has operations India, the US, China and Brazil. Capvis aims to further expand Faster's international footprint, while continuing to drive growth through new product introductions and continued expansion into new end markets, Capvis said.

The acquisition marks Capvis’ second investment in Italy, having acquired arena, an Italian aquatic sports brand, last December.

While Capvis' investment focus is on the German-speaking region, it can make acquisitions outside this area, the firm told PEI. “The German speaking region is our core market. We opportunistically look at companies outside our core market when they particularly suit Capvis’ investment strategy,” Julie Darbellay, head of investor relations at Capvis, said.

Capvis made the acquisition from Capvis IV, which closed on its €720 million hard-cap in January. This is the second deal of that fund after the firm teamed up with Partners Group last year to acquire Swiss-based VAT Holding, a vacuum valves manufacturer.