IK buys Bahr Modultechnik

The GP drew equity from IK Small Cap II, a €550m fund that held a final close in February 2018.

The investment is the first from the new fund and IK's sixth small-cap investment in the DACH region.

IK stated it was attracted to Bahr's product portfolio, strong recurring revenues (which account for 90% of sales), management team and track-record of profitability.

Founder Dirk Bahr will remain operationally involved in the business alongside head of sales and strategy Cihan Halavurt.

Company
Bahr was founded in 1990 by Frank and Dirk Bahr and is headquartered in Luhden. The company makes bespoke modular positioning systems for mechanical engineering and medical technology companies. Its systems are sold internationally and the company employs around 70 people, generating sales of €11m in 2016, according to publicly available information.

People
IK Investment Partners – Nils Pohlmann (partner).
Bahr Modultechnik – Frank Bahr, Dirk Bahr (co-founders).

Advisers
Equity – Goetzpartners (commercial due diligence); EbnerStolz (financial due diligence); Renzenbrink (legal); Marsh (tax).

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