HgCapital and Capvis sell SFC Koenig for €217m

The HgCapital Trust realised cash proceeds of £5.6m on the sale.

HgCapital said it had supported SFC Koenig's team in accelerating revenue growth as well as international expansion and research and development since its initial investment in 2008.

Following the trade sale, SFC will operate as part of the sealing solutions platform within Idex's health and science technologies segment. Idex stated the acquisition of SFC aligns with its strategic initiative to pursue acquisitions in the engineered sealing space.

The transaction is expected to close by September 2016.

Previous funding
Capvis and HgCapital acquired Koenig Verbindungstechnik from steel and metals distributor Kloeckner & Co for a total consideration of €325m in July 2008. The auction, which was described as highly competitive, was run by Credit Suisse out of its Frankfurt office.

The transaction encompassed Switzerland-based Koenig Verbindungstechnik, Germany-based subsidiary Koenig Verbindungstechnik and subsidiaries based in Austria, the Czech Republic, Poland and the US. Capvis made the investment from its General Partner III fund.

Zürcher Kantonalbank provided the senior debt, while mezzanine capital was provided by EQT Expansion Capital.

Company
Founded in 1927, SFC Koenig was a wholly owned subsidiary of DKH, itself a subsidiary of Kloeckner & Co. It produces fastening systems and sealing plugs used in a range of industries such as the automotive and aerospace sectors. The company is headquartered in Dietikon, Switzerland and has a workforce of 130 people.

People
HgCapital - Arno Poschik (director).
SFC Koenig - Alparslan Kütükcüoglu (CEO).

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