SüdKB sells MSC-Gruppe to Avnet

Germany-based SüdKB sold its minority stake of 37.5% to the European technology distributor Avnet, which plans on acquiring the rest of MSC's shares from the company's founder Manfred Schwarzhauber.

The private equity firm is a subsidiary of Süd Beteiligungsgesellschaft, Landesbank Baden-Württemberg's private equity house. It originally bought its stake in MSC from Schwarzhauber.

Avnet has a strong history of acquiring and merging with international distribution companies. In April this year, it bought RTI Holdings, a Chinese distributor of wireless, optical, telecoms, data communications and industrial components. It was founded in 1955 and has more than 17,000 employees worldwide. In 2012 it recorded revenue of $25.7bn.

Company
MSC is a global distributor of electronic products with computer technology counting for more than 50% of its sales. It was founded in 1979 and is headquartered in Stutensee, Baden-Württemberg. The company employs approximately 1,300 staff across 10 regional offices in Germany and 25 subsidiaries Europe-wide. In 2012, MSC reported turnover of €350m.

People
Rick Hamada is Avnet's CEO, while Kevin Moriarty is the CFO.

Advisers
Equity – CMS Hasche Sigle, Dr Peter Baisch, Nicole Gerstle (Legal).

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• Topics
• DACH
• Exits
• Germany
• Trade sale