Capiton buys majority stake in Axxence Group

The company's management team has invested alongside Capiton as part of the succession solution.

Capiton intends to support the company's growth via investments in technology, as well as the expansion of the company's management capacity. Bolt-ons will also form part of the strategy, according to a statement.

The GP is deploying equity via Capiton VI, as well as a co-investment vehicle. Further funds are reserved for organic and inorganic growth.

Capiton VI is currently on the road with a target of €550m and a hard-cap of €600m. The fund writes equity tickets of €20-50m, focusing on DACH-region companies in the areas of medical technology, pharmaceuticals, industrial technology, and responsible consumption.

The fund has now made four platform deals and expects to make around 15 in total.

The vehicle is expected to hold a final close in summer 2021, as reported.

Company
Founded in 1986, Axxence produces NACs for flavouring and fragrance. According to its latest publicly available accounts, the business posted revenues of €31.2m in 2019, versus €30.4m in 2018. The company employs around 120 staff and is headquartered in Emmerich, with two manufacturing plants in Slovakia.

People
Capiton – Roumyana Schnettler (partner); Frank-Markus Winkler (managing partner); Thomas Brake (investment manager); Martin Gwashavanhu (investment analyst).
Axxence Group – Joost van Neck (founder).

Advisers
Equity – Deloitte (financial due diligence, tax); Clifford Chance (legal); Lupp & Partner (legal); EY (corporate finance); Roland Berger (commercial due diligence); Androschin & Partner (operational due diligence); Herter & Co (debt advisory); Ashurst (legal); Willis Towers Watson (insurance due diligence); ERM (environmental due diligence); Tauw (ESG due diligence).
Vendor – RSM, Karsten Ley (tax); Christian Weyers (financial due diligence); Heuking Kühn Lüer Wojtek, Martin Imhof, Sebastian Pollmeier (legal); Guido Hoffmann (legal); Moore/MTH, Pieter Steltenpool (tax).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• DACH
• Industrials
• Germany
• capiton AG