CGS holds interim close for fourth fund

The GP will hold a final close by 17 June, one year from the launch date, and has set a hard-cap of CHF 240m.

It expects to make five to seven platform investments from the new vehicle, and has already drawn equity for two investments.

Capstone Partners has been hired as placement agent for the raise. CGS worked with placement agent FirstPoint Equity for CGS III.

The previous vehicle held a final close on CHF 208m and is deployed across five platform investments.

Investors
The fund has attracted commitments from mainly existing LPs, as well as some new commitments. Swiss LPs Aventic Partners and Swiss Re have made commitments to previous funds, according to Unquote Data.

Investments
CGS will make five to seven platform investments from the new fund. It drew equity from the vehicle for the acquisition of Neustadt-based Stürtz Machinenbau at the end of November 2017 and for Kirchlengern-headquartered packaging machinery company EOL Packaging Experts in December.

It will stick to its strategy of making platform investments in industrial companies in the DACH region and expanding them with bolt-on acquisitions, both domestically and internationally.

CGS III has made 10 bolt-on acquisitions to its five platforms to date, of which three are German companies, three are US-based, two are Polish, one is Italian and one is Czech.

People
CGS Management – Thomas Anderegg, Antonio Cives, Christoph Haller, Rolf Lanz, Giorgio Vannotti (managing partners).

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