Capiton sells Gess Group to Auctus-backed JR Holding

The sale ends a seven-year holding period for Capiton, which purchased a 68% stake in the company in September 2010.

Gess underwent a restructuring in mid-2013 and has recorded revenue and EBITDA growth each year since. Revenues grew by 9.9% to €56m in 2014, 11.1% to €62.5m in 2015, and 15% to €72m for 2016. EBITDA grew from €2.5m 2014 to €3.2m in 2015 (an updated figure has not yet been released).

Gess made two bolt-on acquisitions under Capiton's stewardship, buying Best Job IT and Graeber & Partner.

Acquirer JR Holding is backed by private investment firm Auctus via its fourth fund, a €230m vehicle that closed in December 2014. Auctus acquired JR Holding in November 2016.

Previous funding
In September 2010, Capiton acquired a 68% stake in Gess for an undisclosed sum. The company's management retained the remaining 32%.

Company
Founded in 1991, Gess is a provider of temporary employment, recruitment and interim management services focusing on the engineering, technology, medical and trade industries. The firm is based in Düsseldorf, Germany. It employs 1,850 people and generated €72m in revenues in 2015.

People
Gess Group – Christian Schneider (CEO).

Advisers
Vendor – Lincoln International (M&A); CMS Hasche Sigle (legal); EY (financial due diligence, tax).

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• Topics
• Exits
• Portfolio management
• DACH
• Industrials
• Germany
• AUCTUS Management GmbH & Co KG
• Trade sale
• Build-up