Cross Equity exits Swiss Tool Systems in trade sale

The deal will be financed through cash on hand and debt. RBC Bearings is listed on Nasdaq and has a current market cap of $3.9bn. It makes and markets precision bearings and components for the industrial, aerospace and defence markets.

Cross Equity acquired a majority stake in Swiss Tools Systems in 2016, alongside management. Terms of the deal were not disclosed. The investment was made by its 2015-vintage Cross II fund.

Company
Founded in 1971 and with headquarters located in Bürglen, Swiss Tool Systems is a global supplier of modular tooling systems and high-precision boring and turning solutions for metal cutting machines. It posts annual sales of around CHF 11m and has approximately 50 employees. According to Unquote sister publication Mergermarket, it generates a CHF 4.5m EBITDA.

People
Cross Equity Partners - Daniel Bachmeier (investment analyst), Michael Petersen (managing partner), Markus Reich (managing partner), Philipp Schnyder (investment manager).

Advisers
Acquirer - Raiffeisen Switzerland (M&A).

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• Topics
• Exits
• DACH
• Industrials
• Trade sale
• Switzerland