Evoco carves out six industrial companies from Gesco

The GP is deploying equity from its third fund, Evoco TSE III, which held a first close in June 2020 on €93m and is targeting €150m.

The portfolio includes Gesco's four companies that make up the mobility technology segment, namely Dömer Ring, Modell Technik Formenbau, Werkzeugbau Laichingen Gruppe and Paul Beier, as well as Frank Original and CFK CNC-Fertigungstechnik Kriftel.

The portfolio generated a combined turnover of more than €100m in 2019.

The vendor, who invests in companies engaged in manufacturing tools, mechanical engineering and plastics technology, said in a statement that the transaction was aimed at making its portfolio "more profitable, robust and guaranteeing future viability".

It will earmark €15m of the cash inflow for reduction of liabilities and acquisitions.

The transaction is subject to the granting of regulatory approval.

Company
Based in Hatzfeld, Frank Original manufactures technological wear parts for the agricultural industry.

Based in Kriftel, CFK CNC-Fertigungstechnik is involved in additive manufacturing and wire erosion services for mission critical components in medical technology, aerospace and other industries.

Precision Werks Group is a newly formed industrial group comprising Dömer Ring, Modell Technik Formenbau, Werkzeugbau Laichingen Gruppe and Paul Beier. The group manufactures precision components and tools.

People
Gesco – Ralph Rumberg (CEO); Kerstin Müller-Kirchhofs (CFO).
Evoco – Felix Ackermann (founding partner).

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• Buyouts
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