Paragon carves out Condecta from Arbonia

Arbonia announced it would sell Condecta after a strategic review in July 2017. The division reported an EBITDA margin of 24.2% on CHF 61.3m in sales at the time.

Paragon is currently investing from its €412m buyout fund, Paragon Partners Fund II, which held a final close in July 2014. Typical transaction values for the vehicle are between €30-150m.

With Paragon's support, Condecta plans to consolidate its position in Switzerland and expand into other European countries.

Arbonia will use the proceeds of the sale to reduce its net indebtedness, which it expects to fall below CHF 100m if the sale is completed by the end of the year.

The group projected CHF 110m in EBITDA from CHF 1.3bn in revenues for 2017, although EBITDA could fall by around CHF 15-20m due to the sale of Condecta, according to a source close to the situation.

Company
Condecta is the industrial services division of building materials supplier Arbonia. The company is headquartered in Winterhur and has additional locations in Switzerland, Italy and Germany. Its main business is providing cranes and other construction machinery and equipment to events services in Switzerland. The company employs 180 people and generates revenues of CHF 63m, according to a statement.

People
Paragon Partners – Marco Attolini (managing partner).
Condecta Group – Phillippe Baur (CEO).

Advisers
Vendor – Credit Suisse (M&A).

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• Topics
• Buyouts
• DACH
• Industrials
• Switzerland
• Paragon Partners GmbH