Paragon buys stake in Asic Robotics

Shareholders STS Management and Renaissance Anlagenstiftung will remain invested alongside Paragon.

Paragon drew equity for the transaction from its €412m buyout fund, which held a final close in July 2014.  The GP is currently preparing to come back to market with its third fund, Unquote understands.

Swiss VC firm SVC Risikokapital has sold its stake after jointly acquiring it with STS and Renaissance in 2013.

Asic was marketed based on EBITDA of €5m from €51m in revenues, according to Unquote sister publication Mergermarket.

Company
Asic is a developer and manufacturer of custom-built machines for production, assembly and testing processes for a wide variety of industries, including automotive, med-tech, watchmaking and electronics. The company is headquartered in Burgdorf and comprises five divisions, Asic Robotics in Burgdorf, Pematech based in Radolfzell in Germany, and three Swiss suppliers, Scheidegger, Zihlmann Profiltechnik and Zufag. It employs approximately 200 people.

People
Paragon Partners – Marco Attolini (managing partner).
Asic Robotics – Beat Sturzenegger (chairman).

Advisers
Vendor – KPMG (corporate finance).

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