Quadriga sells M&R Automation to PIA

The combined group will employ 1,100 people and generate a turnover of €220m, according to a statement. It is intended to strengthen PIA's portfolio in the powertrain and e-mobility production spaces.

This transaction was initiated and led by M&A adviser Alantra. The consolidated company claims it will be one of the five largest in the sector globally.

In preparation for the acquisition, PIA was spun out from its parent Preh Group. The acquirer said it will buy another operational branch of Preh in the near future.

Preh was originally a German company owned by private equity house Deutsche Beteiligungs AG, which sold the business to Chinese investor Jeff Wang's Joyson Group in April 2011 for an undisclosed sum. Wang explained in a statement that PIA would operate separately from Joyson Electronics but remain part of the family of companies.

Previous funding
Quadriga backed M&R's MBO in January 2015, taking a majority stake in the company alongside management. Prior to this, Capexit had invested €4m in the company in a funding round closed in June 2003.

Company
M&R was founded in 1989 in Graz, Austria, and now has five locations in Austria, Germany, Canada and China. It develops industrial automation products for the automotive, electronics, consumer goods and medical technology industries.

The company employs more than 400 staff and generated sales of €70m in 2016.

People
Quadriga Capital – Jörg Mugrauer (partner).
PIA Automation – Michael Roesnick (managing director).
Joyson Group – Jeff Wang (founder).
M&R Automation – Bernd Stütz (CEO).

Advisers
Equity – Alantra, Frank Merkel (M&A).

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

• Topics
• Exits
• DACH
• Industrials
• Austria
• Trade sale
• Quadriga Capital
• Deutsche Beteiligungs AG