HTGF sells Fidlock to Ralf Putsch

HTGF originally invested in the company's seed round in 2007 and will make a 3x return on the deal, according to a source close to the situation.

Founder Joachim Fiedler will retain a minority stake and remain in his role as CEO. He told unquote" there are no specific plans for a new strategy but that the company is glad to have secured the support of a partner with the resources of Ralf Putsch.

Fidlock joins hardware manufacturer Knipex in Ralf Putsch's portfolio. Knipex is based in Wuppertal and manufactures pliers.

Previous funding
HTGF invested an undisclosed seven figure sum in a seed round for Fidlock in 2007.

Enjoy Venture and Hannover Beteiligungsfonds followed with further financing. However, details of this were not disclosed.

Company
Fidlock was founded in 2007 by Joachim Fiedler. It designs and produces magnetic fasteners and buckles for a range of uses including outdoor sports and automotive industries. Its clients include Nike, Thule and North Face. The company projects revenues of €8m for 2007 and employs 32 people. Its headquarters are in Hannover and it uses production partners based in China and Taiwan.

People
Fidlock – Joachim Fiedler (CEO).

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