Milestone Partners exits Quintus Technologies in $115m trade sale

The deal provides a realisation for Milestone Partners' Milestone III fund, a $240m vehicle raised in 2008.

Following the sale, Quintus will operate as a wholly-owned subsidiary of Kobe, keeping its Swedish base. Kobe said in a statement its acquisition of Quintus formed part of medium-term management plans for its machinery division, which involves plans to grow into new markets.

Previous funding
Milestone Partners acquired Quintus Technologies – then Avure Technologies - from UK private equity firm the Gores Group in April 2009.

Company
Headquartered in Västerås, Quintus Technologies is a maker of high pressure systems for sheet metal forming and other applications.

The company also operates a subsidiary in Columbus, Ohio, employing 188 people across the organisation.

Founded in 1940 as part of Swiss-Swedish industrial group ABB, Quintus had revenues of $61m in 2016.

People
Quintus Technologies – Jan Söderström (CEO).

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