Capvis sells Lista to trade for CHF 184.5m

The sale is the final exit from Capvis Equity II, which held a final close on €340m in June 2003 and made its final investment in December 2007.

It is the end of an almost 12-year holding period for Capvis, which acquired the company in September 2006 and considered various strategic options for the next stage of the company's development.

The company was touted as an IPO candidate in 2006, when Lista chairman Jörg Wolle told German press that the company would float within five years. Capvis then appointed William Blair to explore a sale in March 2014, after it had overseen the divestment of the company's US subsidiary to Stanley Black & Decker for $73m in 2012, according to Unquote sister publication Mergermarket.

GreatStar will finance the acquisition with cash available on its balance sheet, according to a statement. It is expected to generate synergies worth CHF 118.5m.

Previous funding
Capvis acquired Lista (then Lista B+L Holding) from its family owners in September 2006. The GP acquired a 65% stake, while the founders retained 25% and the management team took 10%.

Company
Lista was founded in 1945 and is headquartered in Erlen. The company manufactures workshop and warehouse furnishings with three production facilities in Switzerland, Germany and Italy, and sells its products worldwide through sales offices and distributors. It generated net profits of CHF 10.5m from revenues of CHF 113.8m in 2017 and employs 500 people.

People
Capvis Equity Partners – Rolf Friedli (partner).
GreatStar Group – Champin Chou (CEO).

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