Finatem buys stake in metal fasteners group

The Frankfurt-based investor has acquired a majority stake in metal fasteners manufacturer Mecanindus-Vogelsang Group.

German mid-market private equity firm Finatem has acquired a 75 percent stake in France- and Germany-based metal fasteners manufacturer Mecanindus-Vogelsang Group for an undisclosed sum.
 
Daniel Kartje, investment manager at Finatem, told PEO that Mecanindus is the  fourth investment from its Finatem II fund, which held a second close at €99 million ($121 million) last October. The vehicle is targeting a €125 million hard cap.
 
Mecanindus is Finatem’s first transaction of 2006. Kartje said the firm typically makes one or two investments per year.
 
Founded in 1920 by the Lévesquef family, Mecanindus is a manufacturer of metal fasteners and spring pins. The company has increased its market share in recent years, having acquired Jörg Vogelsang Umformtechnik from the Vogelsang family after establishing a joint venture production company in the Czech Republic in 1999. The firm currently has operations in Méré, France and Hagen, Germany.
 
“We want to build an international fasteners group,“ said Kartje. “The company is a market leader in the small niche segment of spring pins, accounting for around 80 percent of the market. But now we want to expand into the US and other regions as well as boost the production side in the Czech Republic.”
 
Finatem’s three other investments from Finatem II include the management buyouts of bicycle manufacturer Derby Cycle Gruppe and auto parts business J & S Werkzeugbau Stanz-und Dichtungstechnik, both of which were completed in September 2005.
 
Established in 2000, Finatem has six investment professionals operating out of its Frankfurt office and principally invests in in the German, Austrian and Swiss mid-market.