BWK sells 33.3% stake in Joma-Polytec

Harriet Matthews
03 February 2020

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BWK has sold its 33.3% stake in Germany-based Joma-Polytec, an injection moulding, extrusion and hydromechanics parts producer, to the Maute family and other investors.

The GP acquired a minority stake in the family-owned business in 2002 and has exited the company as part of a plan for succession and generational change. A source familiar with the situation told Unquote that the strategy was to bridge a generational gap in the company's ownership and that the family's goal was to maintain ownership of the business.

During the investment period, Jochen Wolf, managing director at BWK, joined the company's board. The same source added that the GP also supported the company's development in new business fields, including medical devices, and the growth of its customer base in China. The source told Unquote that the business saw profits grow by €10m from 2014.

BWK generally invests €5-70m in companies in the media, technology, healthcare, and industrial goods and services sectors. In October 2019, the GP acquired a stake in Kreyer Group, a glass and stainless steel construction materials producer.

Company
Joma-Polytec produces assembly parts for injection moulding, extrusion and hydromechanics. Its product portfolio includes electric pumps and fuel modules, as well as plastic parts and components for medical devices and isolators. Its client base comprises a number of Germany-based original equipment manufacturers and tier-one suppliers in the automotive and lightweight construction industries. The company also provides R&D and quality checking services.

Headquartered in Bodelshausen, Joma-Polytec was founded in 1958. It has a headcount of 450 and reports turnover of €93m.

People
BWK – Jochen Wolf (managing director).
Joma-Polytec – Alexander Maute (managing director).

Advisers
Equity – Menold Bezler (legal).