Callista Private Equity buys two Mikron subsidiaries

In its 2019 annual report, Mikron stated that the uncertainty in the automotive sector had had a particularly significant impact on the Berlin site. The report also stated that the Berlin site had not contributed to its sales growth from CHF 248.5m in 2017 to CHF 314.7m in 2018.

Mikron acquired Mikron Berlin, then known as IMA Automation Berlin, from Feintool in March 2012.

Callista acquires majority stakes in loss-making group subsidiaries with a negative EBIT margin in carve-outs from their parent companies, targeting businesses with revenues of €10-200m. According to publicly available documents, the GP raises capital on a deal-by-deal basis.

The acquisition of Mikron's two subsidiaries is the GP's third deal of 2020. Callista acquired AercelrMittal Ringmill (now known as Halo Steelrings) from its parent company in May 2020. The GP bought Engineering Technologie Marketing from automotive components group BOS in April 2020.

Callista declined to comment on the transaction.

Company
Mikron produces automated machining systems and cutting tools for industries including watchmaking, pharmaceuticals and consumer goods. Founded in 1985, the sites in Berlin, Germany, and Kaunas, Lithuania, focus exclusively on the automotive industry, with the Berlin plant mainly serving Germany-based clients. The sites employ 70 people in total.

People
Mikron – Javier Perez Freije (chief financial officer).
Callista Private Equity – Olaf Meier (CEO).

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