Gimv acquires majority stake in Witec

The management team will retain a significant minority stake, according to a press release.

The investment will enhance Witec's growth potential leveraging opportunities across both existing and new customers, it said. Gimv will support the management in further expanding and professionalising the organisation.

The company has about 130 FTEs and achieves a turnover of around EUR 25m, it said.

This new investment will be part of Gimv's Smart Industries platform, aimed at companies that provide B2B products and services, based on value creation through innovation and intelligent technology.

Gimv has EUR 2bn of assets under management and its portfolio contains around 60 portfolio companies, with combined turnover of EUR 3.1bn and 19,000 employees.

The investor launched its life sciences investment platform in June 2022 to deploy bigger tickets and increase the size of its portfolio given closed-ended funds have been increasing investment in the sector, Unquote reported.

Most recently, the firm led a EUR 72m Series A financing round last week for Complement Therapeutics alongside existing investor Forbion and joined by BioGeneration Ventures, Panakes Partners, Cambridge Innovation Capital, Hadean Ventures and Seroba Life Sciences.

Company
Witec is a developer and manufacturer of high-precision and high-tech parts and systems for amongst others mechatronic, inductive, and hydraulic applications. Since its management buy-out in 2010, the company has progressed from a metalworking company to a contract design manufacturer for high-tech precision parts and (sub)systems. It serves original equipment manufacturers (OEM) in the semiconductor, medical, packaging, and industrial sectors.

People
Witec − Eric Vos (CEO), Raimon Warta (CTO/CCO).
Gimv − Boris Wirtz (partner at Smart Industries platform)

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