Riverside sells EM Test for CHF 83m

The exit represents a gross IRR of 38% and a multiple of 3.4x. Riverside had not planned to exit the company until at least 2012, but was approached by AMETEK regarding the firm.

The GP acquired EM Test in March 2008 with senior debt for the deal provided by UBS. In the following year, the add-on acquisition of the German manufacturing business Lüthi Elektronik Feinmechanik AG allowed EM Test to streamline its production.

AMETEK, the new owner, is an American manufacturer of electronic instruments and electro-mechanical devices.

Company
EM Test is a Swiss-based manufacturer and supplier of electromagnetic compatibility testing equipment, which is mostly used in the automotive, industrial and telecommunications industries.

The company has sales and service centres in Germany, China and the US that make its products available in 40 countries. Riverside foresees EM Test's revenues will exceed pre-crisis levels by December 2011.

People
The initial acquisition was led by Dominik Heer, principal of Riverside. He also structured the exit together with Riverside partner Volker Schmidt and vice president Justin Kent. Germano Taddio is chief executive of EM Test.

Advisers
Vendor – Robert W Baird, Michael Wolff, Joel Cohen, Markus Kessler, Michael Kos, David Steinkeler, Meron Winkler (Corporate finance); Walder Wyss Wenger & Vieli (Legal).

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

• Topics
• Exits
• DACH
• Industrials