IK sells Axtone in trade sale

The exit comes eight years after the GP acquired Axtone from Advent International, marking IK's first CEE buyout.

ITT's acquisition is expected to close in Q1 of 2017, dependent on closing conditions and regulatory approvals. The transaction value was undisclosed, but a price in the €100-150m range was suggested in 2013, amid reports IK was considering a sale of the company.

Previous funding
IK bought Axtone in August 2008 in a secondary buyout of German rail components maker Keystone Bahntechnik from Advent International. The deal was financed with equity from IK's €825m 2003-vintage IK 2004 Fund, supported by a mezzanine package from Syntaxis Capital.

Company
Headquartered in Kanczuga, Axtone is a maker of impact energy absorption technology for a range of industries.

The company produces rail buffers, draw-gear devices and railway springs, among other shock absorption components.

Axtone was founded in 2007 through the merger of Kamax and Keystone Bahntechnik.

People
IK Investment Partners – Detlef Dinsel (partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Industrials
• CEE
• Poland
• IK Investment Partners
• Trade sale