CGS holds final close on CHF 240m hard-cap

The vehicle was launched in June 2017 and held a first close on around CHF 200m in March 2018.

It expects to make five to seven platform investments from the new vehicle, and has already drawn 25% of its capital for three investments.

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.

Capstone Partners acted as placement agent for the raise and Stephenson Harwood provided legal advice. 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 A+F Automation in December. Most recently, it acquired laser technology company Innolas Solutions in May 2018.

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 in the Czech Republic.

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

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