Capiton invests in Solvis

Solvis's management team will continue to own a significant stake in the business, according to a statement.

Capiton said in a statement that it intends to develop the company organically and via acquisitions.

Capiton is deploying equity via Capiton VI, which has a EUR 550m target and writes equity cheques of EUR 25m-50m. The fund backs pharmaceuticals, medical technology, industrial technology and responsible consumption-focused companies, investing in businesses with revenues of EUR 50m-300m.

The fund expects to make 13-15 platform investments in total and has now made seven deals from the vehicle; the fund made its first platform investment in July 2020, acquiring generic medicines producer MIP Pharma (formerly CNP Group).

Capiton is expecting to hold a final close for the fund this autumn, as reported. Poellath is providing legal advice on the fundraise, while Lazard is acting as placement agent.

Company
Founded in 1982 and headquartered in Braunschweig, Solvis produces energy-efficient hybrid heating systems, focusing on single-family homes. It has three product divisions: heat system technology, solar collectors, and control technology. The company employs 230 staff and expects to post revenues of EUR 60m in 2021.

People
Capiton – Fritjof Franz (partner); Frank-Markus Winkler (managing partner); Daniel Genin (associate).
Solvis – Gabriele Münzer, Markus Kube (managing directors).

Advisers
Equity – KPMG (financial due diligence); EY (tax); CMS (legal); Roland Berger (commercial due diligence); Concept (operational due diligence), Aestimamus (management due diligence); Tauw (ESG due diligence).

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