Quilvest sells Acrotec to Castik

Quilvest said in a statement that since it invested in Acrotec in 2012, the business doubled its sales, entered new markets and enlarged its product offering.

It also made seven bolt-ons, including STS, which offers coating services for watch parts; DJC, a maker of precision turned parts to the automotive market; Mu-Dec, a producer of high-precision turned parts; Petitpierre, which offers automation solutions to watch manufacturers; and Precipro, which is active in the jewellery market with gold machining expertise.

Previous funding
In July 2012, Quilvest invested CHF 30m in Acrotec. The all-equity growth capital deal coincided with the exit of EPF Partners, who had invested in the company in 2006. Quilvest acquired all of EPF's stake in addition to some privately held shares, but left the majority stake with management. 

Company
Acrotec is based in Develier where it was founded in 2006. The group produces watch components. Its companies provide finished elements for watch movements, such as springs, shock absorbers and oscillating weights, as well as components used in medical equipment.

Acrotec also produces components used in end-markets such as telecommunications, IT, aerospace and the automotive industry. It has 600 employees. 

People
Acrotec Group – François Billig (CEO).
Quilvest Private Equity – Thomas Vatier (partner).

Advisers
Company/Management – Athemis, Frédéric Büchler (legal).
Vendor – Transaction R, Pierre Sader, Philippe Dubois de Montreynaud, Lionel Blache, Pierre Gibour (M&A); Lenz & Staehelin, Jacques Iffland, Hélène Weidmann (legal).
Equity – Bär & Karrer (legal); Arendt & Medernach (legal); Deloitte (financial due diligence); BCG (strategic due diligence).

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• Topics
• Exits
• Buyouts
• DACH
• Industrials
• Switzerland
• Quilvest Private Equity
• Secondary buyout