Patrimonium PE sells CCS Group to trade

GPV is owned by Danish industrial conglomerate Schouw & Co. The combination of GPV and CCS will create an EMS company with revenues of €350m and a headcount of 3,700. The newly formed EMS group will take the name of GPV and be based in Denmark. The merger sees CCS CEO Thomas Kaiser continuing to lead CCS and oversee post-merger integration.

Patrimonium (formerly known as Zurmont Madison Private Equity) used its ZM Opportunity II fund to invest in CCS in 2011. In a statement, Patrimonium stated that the turnover has more than tripled in that time, while its headcount increased from 1,000 to 2,300.

CCS was the last portfolio company of the CHF 100m ZM Opportunity II vehicle, closed in 2017. Patrimonium disclosed in a statement that it is launching a new buyout fund, investing in medium-sized companies that it aims to grow via consolidation, internationalisation and digital transformation.

Company
Founded in 1985 and based in Lachen, CCS provides electronics sub-assembly services and finished products (box-build) in high-mix and low-volume series.

Furthermore, CCS has its own product design and engineering unit, as well as cable-harness manufacturing, specialising in cable customisation. The business generated sales of €190m in 2017 and currently employs 2,300 people, of whom around half are based in Europe and the rest in Sri Lanka and in China.

People
GPV International – Bo Lybæk (CEO).
Patrimonium Private Equity – Werner Schnorf (managing director).

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