IK Investment Partners acquires Messerschmitt Systems

Messerschmitt will capitalise on the new partnership with IK and the extra funding to push its international expansion. IK stated it recognised the long-term profitable growth track record and diversified customer base as an opportunity to move into new geographies.

Financial terms of the deal were not disclosed, but IK will be making the investment from its IK Small Cap I Fund, which is now more than 50% deployed, according to a person close to IK.

IK held a final close on €277m for its small-cap vehicle IK Small Cap I Fund in March 2016, hitting the hard-cap after one year on the road.

The vehicle makes investments in companies with enterprise values in the approximate range of €20-100m, across France and the Benelux, DACH and Nordic regions. Equity ticket size will range from €10-30m per buyout, with a provision for making significant minority investments on a selective basis.

Company
Founded in 1994 and based in Nuremberg, Messerschmitt provides multifunctional room management systems for hotels and guest houses. As well as key card systems, the company also makes temperature and lighting controls, as well as touch-sensitive switches. The company services around 2,000 hotels worldwide.

People
IK Investment Partners – Anders Petersson (partner).
Messerschmitt Systems – Jürgen Roth (CEO); Harmut Messerschmitt (founder).

Advisers
Equity – Goetzpartners (commercial due diligence); Ebnerstolz (financial due diligence); Renzenbrink (legal, tax); Marsh (insurance due diligence).

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