Lafayette Mittelstand Capital buys Geba Cables

The GP intends to support the company's continued growth, according to a statement. The deal was completed as part of GG Group's ongoing strategic consolidation, which began prior to the start of the coronavirus crisis.

Automotive and industrial cable producer GG Group employs 4,000 employees and generates revenues of €500m.

Lafayette is currently deploying equity via Lafayette Mittelstand Capital II, which held a final close in June 2017 on €54.5m. The fund also backed PPM Reinstmetalle Osterwieck and Jurchen Technology in August 2020. At the time of the investment in PPM, the vehicle expected to make three to four more platform investments. Lafayette generally invests in DACH-based Mittelstand businesses with revenues of €15-150m, focusing on special situations, including carve-outs.

Company
Geba Cables was part of the electricals division of GG Group. The company produces cables and wiring for elevator systems, including control units, shaft wiring, engine rooms, doors and lighting systems. The company is based in Vienna, with additional operations in Slovakia and India. The company has 400 employees and produces revenues of €25m in 2019.

People
Lafayette Mittelstand Capital – Hermann Reitze (partner).
Geba Cables – Matthias Ungerboeck (CEO); Sandrip Mehta (head of Indian and Asian markets).
Gebauer & Griller Group – Eva Schinkinger (CEO).

Advisers
Equity – Binder Grösswang, Georg Wabl, Gottfried Gassner, Philipp Schanner, Markus Sacherer (legal).
Vendor – Livingstone (corporate finance).

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• Topics
• Buyouts
• DACH
• Industrials
• Austria