Partners Group sells 10% VAT Group stake

The stake would be worth CHF 398.7m at the current market price of CHF 132.9m per share.

Partners Group will retain a 13% stake in VAT Group after the settlement of the transaction.

The GP originally acquired a joint majority stake in the company alongside Capvis Equity Partners in a buyout transaction in December 2013.

The firms listed the business on the Swiss stock exchange in April 2016 at CHF 52 per share, giving it a market cap of CHF 1.56bn.

Capvis made a final exit from the business in August, selling a 4.78% holding to institutional investors.

Rudolf Maag is a Swiss entrepreneur worth $2.8bn, according to Forbes. He accumulated most of his wealth in the medical devices and pharmaceutical industry, spinning out Straumann's medical device division and selling it to Johnson & Johnson.

Company
Founded in 1964 and based in Haag, VAT is a developer, manufacturer and supplier of vacuum valves, multivalve modules, edge-welded bellows and related services for advanced vacuum-based manufacturing processes in the semiconductor, display, solar and associated technology industries, as well as in scientific research.

The company has 1,746 employees and main manufacturing sites in Haag (Switzerland), Penang (Malaysia) and Arad (Romania). In the first half of 2017, the company generated CHF 95.3m in EBITDA from CHF 326.4m in sales, up from CHF 67.8m and CHF 235.5m for the same period in 2016, respectively.

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• Topics
• Exits
• DACH
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• Switzerland
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• Partners Group