VR sells Ismet to Phoenix Mecano

The transaction saw VR and Ismet chairman Jürgen Bayer exiting all shares in the company and its subsidiary in the Czech Republic.

Industrial enclosures and mechanical components producer Phoenix plans to integrate transformers manufacturer Platthaus into Ismet, which will remain a standalone company within the Phoenix group. The acquirer predicts production relocations and a site closure to entail exceptional costs of €1-1.5m.

The deal is expected to close on 1 July.

Previous funding
In November 2011, VR Equitypartner acquired a minority stake in Ismet. Volksbank Donau Neckar and an unknown bank also invested in this transaction.

Company
Founded in 1902 and based in Villingen-Schwenningen, Ismet is a producer of transformers, chokes and electrical components. The products are used for voltage transformation and to stabilise power networks. Industrial applications cover mechanical engineering, transport, building technology and renewable energy.

Ismet, which had a turnover of €14m in 2015, employs 140 staff.

People
VR Equitypartner – Christian Futterlieb (managing director).
Ismet – Jürgen Bayer (chairman).

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• Topics
• Exits
• DACH
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• Trade sale
• Germany