HgCapital exits SimonsVoss to Allegion for €210m

The sale represents a return for the GP's HgCapital 6 vehicle, which held a final close in December 2009 on £1.87bn. In 2014, the fund reaped 2.1x on the IPO of portfolio company Manx, a Manx telecoms operator.

During the GP’s tenure, SimonsVoss has invested in new products and increased its revenues from exports, although the majority of the company's sales take place in the German market. HgCapital has also overseen the recruitment of new management to support international growth.

Previous funding
HgCapital acquired a 67% stake in SimonsVoss for €116.6m in May 2010.

Company
Founded in 1995 and headquartered in Unterföhring, near Munich, SimonsVoss produces electronic locking and access systems. The company has a headcount of 275, up from 225 when HgCapital first acquired the business. It generated a turnover of €52m in 2014, up from €37m in 2010.

People
Justin von Simson is a partner at HgCapital. Bernhard Sommer is CEO of SimonsVoss. David Petratis is chairperson, president and CEO of Allegion. 

Advisers
Equity - Robert W Baird, Michael Wolff, Sven Harmsen, Joel Cohen, Chris Cooper, David Silver (Corporate finance); Linklaters (Legal).

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