Hannover Finanz acquires stake in Lacon Electronic

Hannover Finanz closed its evergreen fund Hannover Finanz X on €120m in 2008. The firm targets medium-sized enterprises with annual sales of at least €20m. The firm's average holding period is 8-10 years, though the evergreen fund has no finite holding period.

Hannover Finanz declined to comment.

Previous funding
Bayerische Beteiligungsgesellschaft acquired a silent stake in the company in 1992. The firm took one third of the equity in the Lacon Group to facilitate a two-thirds management buy-in by the current CEO Ralf Hasler in 2005. Lacon is now no longer part of the firm's portfolio, though the details of the exit were not made public.

Company
The Lacon group has four product divisions: Lacon Electronic, Euroconnectors, Lacon Embedded and Lacon Electronic SRL. Lacon Electronic offers mechatronics for mechanical engineering, rail systems, and the automotive, medical devices and robotics industries. The company has approximately 400 employees in two locations in Germany and Romania.

People
Lacon Group – Ralf Hasler (CEO).

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