AGIC sells Gimatic for €370m

The industrial technology company was purchased by Barnes Group, a New York-listed industrial and aerospace manufacturer.

Under AGIC's ownership, Gimatic opened offices in China, Japan, India and France, and increased its workforce by around a third. AGIC said the investment was typical of its main strategy – to take European industrial technology companies and help them expand into new markets.

Barnes Group said Gimatic would give it a gateway into industrial automation.

Previous funding
AGIC purchased the company in June 2016 for €100m, acquiring the businesses from Xenon Private Equity. Xenon first invested in the firm in a 2013 buyout.

Company
Gimatic is headquartered in Roncadelle, Italy, and is a global supplier of equipment and technology for industrial automation. It supplies sectors such as automotive, packaging, food and beverage, and consumer electronics. Its main products are robotic grippers, advanced end-of-arm tooling systems, sensors and other automation components.

People
AGIC Capital – Erik Yankulin (director).

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• Topics
• Exits
• Industrials
• Southern Europe
• Trade sale
• Italy