European Capital exits MTH

The return includes interest and fees earned over European Capital's holding period. The amount realised by the GP was roughly on par with the Q1 2013 valuation of the investment.

European Capital acquired MTH in December 2006, investing €106m. In that transaction, the firm provided senior term loans, including a revolving credit facility and an acquisition line, as well as a mezzanine loan and a shareholder loan in addition to equity. European Capital owned approximately 83% of MTH following the transaction.

Between 2005 and 2012, equipment sales in Asia grew from 12% to 29% of revenues.

Company
Founded in 1984 and headquartered in Menden, Germany, MTH is a provider of industrial heat treatment technology and aftermarket services for the thermo-chemical and thermo-physical treatment of finished metallic and alloy-based components.

MTH includes five brands: Schmetz, Mahler and IVA in Germany, BMI in France and Huisen in China. The company employs more than 320 staff.

People
Tristan Parisot and Etienne Haubold are managing directors at European Capital Financial Services (ECFS). Olivier Meline is investment director at ECFS. Stefan Blum is the CEO of MTH.

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