Cross buys Boes Group

Cross is currently investing from its second buyout fund, which closed on CHF 100m in August 2017 and was 50% deployed across three deals by May 2018, it expects to make one more deal. Its third fund is expected to launch by the end of the year with a target of €150m. 

The GP said that Boes was well positioned to take advantage of the shift to e-mobility and industry 4.0 trends, as it already supplies precision parts for e-bike motors as well as a range of industrial machines and medical devices.

Debt
Debt for the transaction was arranged by a group of local banks led by Sparkasse.

Company
Boes is based in Neulingen-Bauschlott and was founded in 1985. The company develops and constructs high-performance composite stamping tools, and produces high-precision stamped, bent and drawn parts. The company supplies a range of industries including the automotive industry, the e-bike sector, the electronics industry and the medical technologies industry.

People
Cross Equity Partners – Michael Petersen, Markus Reich (managing partners).
Boes Group – Tobias Boes (CEO).

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• Topics
• Buyouts
• DACH
• Industrials
• Germany
• Cross Equity Partners AG