Afinum buys majority stake in Listan

Afinum said in a statement that it aims to support the company's growth, including the expansion of its product portfolio and its continuing internationalisation.

The deal is the 10th investment from Afinum Achte Beteiligungsgesellschaft, which held a final close in September 2017 on €410m. The fund deploys equity tickets of €20-50m and aims to make 12-14 platform investments.

The investment is also Afinum's fourth buyout of 2020. Its most recent deal prior to Listan was the acquisition of messaging software company Threema. Afinum aims to deploy €100m in equity per year.

Company
Listan was founded in 2000 by Stanislav Minkin, Oleg Ushkats and Elina Gorborova. The company produces hardware and accessories designed to make computers run more quietly and in a more energy efficient way. Its Be Quiet! brand produces hardware for desktop computers such as power supplies, PC cases and cooling solutions, while its Xilence focuses in particular on energy efficiency.

Based in Glinde, Schleswig-Holstein, the company employs 100 people and has additional operations in Poland, Taiwan, the US, China, France, Russia, Ukraine and the UK. According to its annual financial statement for 2018, Listan expected to see turnover increase by 9% in 2019, accompanied by a slight decline in profit due to factors including additional sales costs.

People
Afinum – Gernot Eisinger, Thomas Bühler (managing partners).

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