Capiton buys LAP Laser

The GP plans to grow the company's value through acquisitions and has earmarked funds from its latest investment vehicle Capition V for those transactions. Capiton V closed its fifth fund on its hard-cap of €425m in November 2014.

LAP is the second acquisition for Capiton this year. In April, the GP acquired a minority stake in German optical systems manufacturer Trioptics.

Company
Founded in 1984 and based in Lüneburg, LAP produces laser projection and measurement systems for medical and industrial use. The company, which employs 250 people, has additional distribution sites in France, the US, Singapore and China. Among its customers are ThyssenKrupp, Siemens and Airbus.

People
Manuel Hertweck is managing partner at Capiton. Uwe Bernhard Wache is managing director of LAP Laser.

Advisers
Equity – LEK (Commercial due diligence); Deloitte (Financial due diligence, tax); Egon Zehnder (Management due diligence); Allen & Overy (Legal).

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• Buyouts
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• Germany