Aheim sells WAG to Kieger, CIC Capital

The sale ends a holding period of three and a half years for Aheim, which wholly acquired the company from its founder in April 2014.

At the time of Aheim's original investment, the company generated EBITDA of €3m and employed 110 people. It now employs 150 people and generates EBITDA of €5m from €20m in revenues.

Previous funding
Aheim wholly acquired WAG for an undisclosed sum in April 2014. The enterprise value is thought to have been 4-8x its €3m EBITDA at the time.

Company
Headquartered in former East German border town Geisa, the company was founded in 1992 by Wolfgang Wagester to produce technical plastic parts. WAG now develops, produces and sells a portfolio of plastic cases, which can be customised with advertising. The company also manufactures foam plastic inlays for its cases, according to customer specification. It employs 150 people and generated €5m EBITDA from €20m in sales in 2016.

Advisers
Vendor – Quarton International (corporate finance); CMS (legal).

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