Tag Archives: Industrie

Carlyle to sell TOTOKU to SWCC

Carlyle

Tokyo, Japan – February 21, 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to sell TOTOKU Inc. (“TOTOKU”), a leading Japanese manufacturer of specialty wires and electronic devices, to SWCC Corporation (“SWCC”), a Japanese manufacturer and supplier of electric wires and cables, and the Development Bank of Japan Inc. The transaction, which is subject to customary regulatory approvals, is expected to close by the end of March 2025.

Carlyle acquired TOTOKU in December 2022 and has since worked closely with management to drive transformative growth. During this period, TOTOKU has further consolidated its position as a leading player in each of its business areas, creating a strong foundation for future sustainable growth.

To effectively navigate the evolving business environment TOTOKU operates in, Carlyle supported the company in restructuring across two distinct business divisions, one focused on the mobility, semiconductor, telecom and AI industries, and the other addressing consumer electronics, alongside other markets. Focused on delivering operational excellence, Carlyle supported the business to strengthen cross-functionality between its marketing, R&D, finance, and corporate divisions. Growth has also been achieved through the introduction of more advanced business management processes and the strengthening of TOTOKU’s global management structure.

Ken Maki, CEO of TOTOKU, said: “Our partnership with Carlyle represents an important phase in our growth story. We have benefitted from working alongside a global financial partner with extensive management and industry expertise and an established track record of scaling Japanese businesses. We look forward to continuing our development with our new partner SWCC and are excited to leverage the opportunities created by our complementary product portfolios and shared strategic areas of focus.”

Toshihiko Nishizawa, a Managing Director in the Carlyle Japan advisory team, said: “We are delighted to have supported TOTOKU, working closely alongside CEO Ken Maki and his team, to realize transformational growth. We believe that we have provided TOTOKU with a strong foundation for future growth and look forward to seeing the company continue to go from strength to strength alongside its new strategic partner, SWCC.”

The sale of TOTOKU builds on Carlyle’s well-established track record of investing in the General Industries sector in Japan, delivering strong business growth and value creation across its portfolio companies. Investments in this space include Rigaku, Enewill, Kokusai Kogyo, and SENQCIA. Across all sectors, Carlyle’s Japan buyout platform has committed capital of more than JPY 1 trillion and completed 41 private equity investments since 2000.

++

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Global Investment Solutions. With US$441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs over 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

Media contacts

Carlyle:

Charlie Bristow

+44 7384 513 568

charlie.bristow@carlyle.com

Brunswick Group:

Masato Ui / George Ohyama

+81 80 6538 2109 / +81 80 7340 1015

carlylejp@brunswickgroup.com

Categories: News

Tags:

Cottonwood Technology Fund invested in Keiron Printing Technologies

Cottonwood Technology Fund invested in Keiron Printing Technologies 

Cottonwood Technology Fund recently invested € 1.5 Million in Keiron Printing Technologies. The investment is an extension of the seed round by DeeptechXL and TNO. Founded in 2019 as a spin-off from TNO Holst Centre, where the project began in 2012, Keiron is backed by strategic partnerships with industry leaders such as ASML, TNO, Holst Centre, and VDL TPB Electronics.

Keiron is revolutionizing the Surface Mount Technology (SMT) industry with its groundbreaking Laser-Induced Forward Transfer (LIFT) technology. It delivers a fully digital, contactless printing solution that eliminates the limitations and compromises of traditional stencil and jet printing. By combining precision, efficiency, and flexibility, Keiron is setting a new standard for electronics manufacturing.

 

Categories: News

Tags:

Optima Cycles expands with powder coating line through acquisition of Leeflang Poedercoating

Bolster

Optima Cycles BV, a portfolio company of Bolster Investment Partners since 2021, has acquired Leeflang Poedercoating. The activities will continue under the name Optima Cycles Coating. With this step, Optima Cycles adds a crucial component to its e-bike and e-cargo bike production process, further enhancing its quality standards and flexibility.

Over the past years, Optima Cycles has established itself as a leading player in the market and is one of the largest cargo bike manufacturers in the world. The addition of an in-house powder coating line in the Netherlands allows the company to determine frame colors at a later stage in the production process, increasing flexibility and contributing to more efficient production.

Leeflang Poedercoating, based in Voorhout, is known for its specialized expertise and high-quality powder coating across various industries. Michiel Dreef, CEO of Optima Cycles: “We are very excited about the launch of Optima Cycles Coating and the integration of this team into our organization. The proven expertise of the team aligns perfectly with our vision of continuously delivering top-quality products to our customers, while also providing us with greater flexibility by bringing another key part of the production process in-house.”

Categories: News

Tags:

Bain Capital Announces Majority Investment in Milacron, a Leading Global Provider of Highly Engineered Plastic Processing Solutions

BainCapital

  • Investment to accelerate Milacron’s growth and strengthen its position as a global leader in highly engineered plastic processing solutions.
  • Milacron’s comprehensive suite of equipment offerings and services enables the production of everyday products used across the construction, automotive, packaging, consumer goods, and medical sectors.
  • Hillenbrand (NYSE: HI), Milacron’s current owner, will continue to remain a significant investor in the business.

BOSTON, Mass. and BATESVILLE, Ind. – February 5, 2025 – Bain Capital, a leading private investment firm, today announced a majority investment in the Milacron Injection Molding and Extrusion business (or the “Company”), a globally renowned provider of highly engineered plastic processing equipment and services. Bain Capital will partner with Milacron’s current owner, Hillenbrand, Inc. (NYSE: HI), who will remain a significant investor in the business to accelerate the Company’s continued growth. Bain Capital entered into a definitive agreement to purchase an ownership stake of approximately 51% of Milacron for $287 million, subject to customary closing adjustments. Hillenbrand will retain an ownership stake of approximately 49%.

Since 1968, Milacron has been a global provider of highly engineered plastic processing solutions including injection molding and extrusion equipment as well as aftermarket parts and services. Milacron has long been recognized as a market leader for its product and service expertise serving a variety of end-markets, including the construction, automotive, packaging, consumer goods, and medical industries. With the largest installed base of equipment in the U.S., Milacron serves as a complete lifecycle partner, leveraging its extensive support network to deliver comprehensive aftermarket parts and services solutions.

“Milacron is an iconic American manufacturing business with a 50-year legacy of driving innovation in plastics,” said Matt Evans, a Partner at Bain Capital Special Situations. “With manufacturers increasingly focused on supply-chain resilience and domestic production, we believe the U.S. is entering a manufacturing renaissance that will create significant opportunities for industry leaders like Milacron. With its advanced engineering capabilities, global reach, and deep customer relationships, Milacron is well-positioned to build on its strong foundation.”

“We are excited to partner with Mac Jones, the President of Milacron, and the entire Milacron team to support the next chapter of growth of one of the world’s premier plastics processing solutions businesses,” added Chris Sun, a Principal at Bain Capital Special Situations. “Milacron combines industry-leading engineering and manufacturing capabilities with innovative technology to enable the production of essential products used daily in the U.S. and around the world. We share a common vision with Milacron’s associates, customers, and other partners to continue building on Milacron’s more than 50-year legacy to create an even stronger future ahead.”

“Following an in-depth portfolio review, we determined that Milacron would be best positioned for the future through this partnership with Bain Capital,” said Kim Ryan, Hillenbrand President & CEO. “Bain Capital has a proven track record of successful corporate partnerships and will provide greater resources to Milacron, which we believe will drive future growth and success for Milacron’s associates and customers, as well as for Hillenbrand’s shareholders.”

Bain Capital’s Special Situations team is making this investment following the successful close of its second vintage of funds, which raised over $9 billion. Bain Capital Special Situations has $22 billion in assets under management and has invested more than $16 billion since its inception in 2018, providing bespoke capital solutions to meet the diverse needs of companies, entrepreneurs, and asset owners. With a long track record of supporting industrial and manufacturing businesses globally, the team brings deep expertise in driving operational growth and long-term value creation.

The transaction is expected to close at the end of the Company’s fiscal second quarter or beginning of the fiscal third quarter. Deutsche Bank is serving as exclusive financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to Bain Capital.

About Bain Capital

Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Hillenbrand

Hillenbrand (NYSE: HI) is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions to customers in over 100 countries around the world. Its portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. The Company pursues excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders.

Forward Looking Statements

This press release contains forward-looking statements, including statements that are within the meaning of the Private Securities Litigation Reform Act of 1995 that are intended to be covered by the safe harbor provided thereunder, which reflect the current views of Bain Capital and Hillenbrand regarding future events, expectations, plans, and prospects for Milacron following the announced transaction. These statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied in such statements.

Forward-looking statements include, but are not limited to, statements regarding: the expected benefits of the transaction; Milacron’s future growth, market position, and business strategy; anticipated industry trends, including implications with respect to growing supply chain resilience and domestic manufacturing; and the expected timing of the transaction closing.

Any number of factors, many of which are beyond Hillenbrand and Bain Capital’s control, could cause Hillenbrand and Bain Capital’s performance to differ significantly from what is described in the forward-looking statements. These factors include, but are not limited to: the ability to recognize the benefits of any acquisition or divestiture, including the Milacron injection molding and extrusion business sale (the “Proposed Transaction”), including potential synergies and cost savings or the failure of Hillenbrand and Bain Capital or any acquired company, or the Proposed Transaction, to achieve its plans and objectives generally; any failure by the parties to satisfy any conditions to the Proposed Transaction; the possibility that the Proposed Transaction is ultimately not consummated; potential adverse effects of the announcement or results of the Proposed Transaction on the market price of the Hillenbrand’s common stock; and risks related to diversion of management’s attention from Hillenbrand’s ongoing business operations due to the Proposed Transaction. There can be no assurances that the Proposed Transaction will be consummated.

Readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. For a more in-depth discussion of certain factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions in Hillenbrand’s filings with the U.S. Securities and Exchange Commission.

The forward-looking information in this release speaks only as of the date on which it is made. Hillenbrand and Bain Capital undertake no obligation to publicly update or revise any forward-looking statement, whether written or oral, made to reflect new information, future developments or otherwise.

Categories: News

Tags:

Precision Coating, a Katahdin Company, Acquired by Integer

No Comments
Ampersand

Hudson, MA – February 4, 2025 – Katahdin Industries, LLC is pleased to announce the sale of substantially all of the assets of Precision Coating to Integer Holdings Corporation. The transaction closed on January 7, 2025. Precision Coating provides global Medtech customers with innovative products and services to enhance the surface functionality of patient-critical products.

Since 2006, Precision Coating has built a highly specialized proprietary coatings platform in the medical technology supply chain. The portfolio build, positioning and growth trajectory was accelerated through five acquisitions including CHN Metal Finishing (2008), Medi-Solve (2008), Boyd Coatings Research (2015), a merger with N2 Biomedical (2021), and Providence Texture (2023). A nearly ten-fold increase in scale over the hold period was further facilitated by investments in data systems, automation, materials development, and greenfield expansion in Costa Rica. The company currently operates out of four North American sites and one in Costa Rica.

“From the very beginning, we identified precise control over surface treatment as a key feature in the medical device manufacturing process,” commented Tim Cabot, Chairman of Katahdin. “We also saw a gap in the market to address unique coating-as-a-service needs for medical device customers and to position the company to become a fully capable contract manufacturing services provider for the full life cycle of each product we work on. Over time our market focus has also allowed us to expand and enhance our specialized, high-value, and innovative application solutions, including GlideLine™, our proprietary fluoropolymer coatings for medical devices; MICRALOX®, our patented anodic coatings for re-usable medical instruments; and IonGuard®, our proprietary ion treatment for implants.”

Bill Ellerkamp, President of Precision Coating, added, “We are very excited about the acquisition of Precision Coating by Integer. We are proud of the strong and defensible position we’ve built in the proprietary coatings segment of the Medtech industry and the exceptional company culture we’ve created. Integer is uniquely positioned to capitalize on the strengths of our technologies and our respective cultures are well aligned. We are confident in the future of Precision Coating as part of Integer.”

Piper Sandler & Co. served as exclusive financial advisor to Katahdin and Ruberto, Israel, & Weiner, P.C. served as legal advisors.

 

About Katahdin

Katahdin Industries, LLC is a closely held investment corporation with both individual and institutional ownership. Following Katahdin’s 2021 merger with N2 Biomedical, Ampersand Capital Partners became a minority shareholder and provided strategic guidance cultivated from a deep history of investing in medical contract design and manufacturing organizations. Tim Cabot and Bob DeAngelis led the original acquisition and company build out through 2018 when Bill Ellerkamp became President of Precision Coating. Additional information about Precision Coating is available at www.precisioncoating.com.

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit Ampersandcapital.com or follow us on LinkedIn.

About Integer®

Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMO) in the world, serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets. As a strategic partner of choice to medical device companies and OEMs, the Company is committed to enhancing the lives of patients worldwide by providing innovative, high-quality products and solutions. The Company’s brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net

Categories: News

Tags:

PAI Partners enters into exclusive negotiations to acquire a majority stake in Alvest

PAI Partners

PAI Partners, a pre-eminent private equity firm, has entered into exclusive negotiations to acquire a significant stake in Alvest, the global leader in the production, distribution and services of airport Ground Support Equipment (“GSE”). Upon completion of the transaction, PAI will become the largest shareholder in Alvest alongside a co-investor, with Ardian retaining a minority stake alongside the company’s founders and management team.

Since its founding in 2001, Alvest has grown to be a key player in the GSE market, providing high quality, innovative and sustainable products and services for the aviation industry. Alvest’s portfolio is tailored to meet the specific needs of airlines, airports and ground-handling companies, with a focus on improving efficiency, safety and sustainability within aviation operations. This includes the design, manufacturing and distribution of airport GSE, the distribution of spare parts and accessories, maintenance and associated services activities, as well as the deployment of decarbonisation and automation solutions for aviation on the ground.

Headquartered in France, Alvest has more than 3,500 employees worldwide, a global proprietary sales and after-sales network, and 10 industrial factories in the US, Canada, France, Belgium, UK, India and China, which together serve customers in over 167 countries and provide associated services in more than 250 airports.

PAI’s investment will support Alvest’s next phase of expansion and innovation, leveraging the firm’s deep expertise in the General Industrials sector. The partnership will focus on enabling Alvest to accelerate the transition to electric GSE and continue to grow the product and service offering, including enhancing resilient servicing activities, fleet management systems and maintenance services.

Valentin Schmitt, CEO of Alvest, said: “The whole Alvest Management Committee is very pleased that investors of the calibre of PAI are partnering with us, and that Ardian will continue to support us in our development. This vote of confidence continues to support our development ambitions, which remain focused around the quality of our products and services, as well as the satisfaction of our customers. We thank CDPQ and Sagard for the valued relationship and contribution to the strong development of Alvest over the past years.”

Laurent Rivoire and Albin Louit, Partners at PAI, said: “We have tracked Alvest’s progress for many years. Today, we are delighted to have the opportunity to partner with Alvest’s exceptional management team to support the company in its next phase of growth. Leveraging its global leadership in Ground Support Equipment and its unique set of technologies and services, Alvest is well placed to help make aviation leaner and greener. We look forward to working with the management team to deliver on this ambition.”

Alexandre Motte, Co-Head of Co-Investment and Senior Managing Director at Ardian, said: “We have known Alvest and its management team for many years, having been shareholders from 2006 to 2013 and since 2018. We are very excited to partner with Alvest in this new phase of its development and thank the Alvest leadership for their trust.”

The transaction is expected to close during the summer, subject to customary regulatory approvals.

Contacts

PAI Partners
Dania Saidam
+44 20 7297 4678

About PAI Partners

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. The Firm has more than €28 billion of assets under management and, since 1994, has completed over 100 investments in 12 countries and realised more than €25 billion in proceeds from over 60 exits. PAI has built an outstanding track record through partnering with ambitious management teams where its unique perspective, unrivalled sector experience, and long-term vision enable companies to pursue their full potential – and push beyond.
Learn more about the PAI story, the team and their approach at: www.paipartners.com.

About Ardian

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.
www.ardian.com

Categories: News

Tags:

3i invests in OMS Prüfservice, a tech-enabled service provider for testing electrical systems and equipment

3I

3i Group plc (“3i”) today announces it has agreed to invest in OMS Prüfservice (“OMS”), the largest specialised service provider in testing electrical systems and equipment for B2B customers in the DACH region.

OMS provides electrical testing and certification services for B2B customers, an attractive end-market underserved by generalist providers that focus on larger enterprise customers. OMS has a fully-tailored, proprietary software platform, INSPEKTRA. This enables OMS to digitalise and automate its testing processes, maximising efficiency and allowing OMS to optimise its services down to an individual customer level.

OMS operates from 43 locations across Germany, Austria and Switzerland. This strong local presence, combined with its technology-driven processes, allows OMS to deliver high-quality services with unparalleled customer proximity.

OMS’s market-leading operations, widespread branch network and data-driven processes have generated a c.30% sales CAGR since 2019. The company is well positioned for future growth due to its geographic footprint, the increasing digitalisation of workplaces and increased outsourcing due to the demand for skilled technicians.

3i is investing to drive further growth in OMS’s core business while exploring new opportunities, such as testing electric vehicle charging infrastructure and photovoltaic installations.

Micha Erz, CEO, OMS Prüfservice, said: “We are very pleased to be partnering with 3i. It has a strong track-record of scaling high-growth, international companies and its experience in the testing, inspection and certification sector will be invaluable. With its support, we look forward to broadening our service portfolio to deliver even greater value to our customers and to address evolving needs in areas such as e-mobility. In addition, this partnership will enable us to achieve sustainable growth, create exciting opportunities for our employees and foster a strong, innovative and collaborative workplace culture.”

Peter Wirtz, Head of Private Equity, 3i, said: “As a value-added, tech-enabled outsourced service provider, OMS sits at the core of our Services and Software strategy. OMS combines an extensive footprint, best-in-class operations and a unique software platform to create a market-leading offering. We have been following their success for some time and are looking forward to partnering with Micha Erz and the team to capture the significant opportunities which lie ahead.”

 

-Ends-

Download this press release 

For further information, contact:

3i Group plc

Kathryn van der Kroft
Media enquiries

Silvia Santoro
Shareholder enquiries

  

Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Categories: News

Tags:

Cottonwood’s portfolio company Orange Quantum Systems developed the first industrial quantum chip testing device

Cottonwood’s portfolio company Orange Quantum Systems developed the first industrial quantum chip testing device.

The OrangeQS MAX is an important product for the quantum industry.

Quantum chip producers need to perform cryogenic testing on every single chip, so addressing testing is essential for them. When they want to scale up the size of their quantum chips and the quantum computers they are deployed in, testing becomes a significant bottleneck. The OrangeQS MAX addresses this, as the only turn-key test equipment for utility-scale quantum chips available in the market at the moment.

📰 Read more about the first OrangeQS MAX shipment here: https://lnkd.in/e22h_-c7

First OrangeQS MAX is shipped to IQM in Espoo, Finland

The first OrangeQS MAX has been shipped to the quantum chip fabrication facility of IQM in Espoo, Finland. Quantum chip producers still need to perform cryogenic end-of-line testing on every single chip and the OrangeQS MAX is currently the only turn-key test equipment for utility-scale quantum chips in the market.

Part of the crates with OrangeQS MAX components on their way to IQM in Espoo, Finland.

Part of the crates with OrangeQS MAX components on their way to IQM in Espoo, Finland.

 

In November 2024, we successfully completed the Factory Acceptance Test of our first OrangeQS MAX. This was followed by a memorable product launch and reveal of the launching customer of the OrangeQS MAX, namely IQM Quantum Computers.

The OrangeQS MAX is now shipped to the quantum chip fabrication facility of IQM in Espoo, Finland, where the OrangeQS deployment team will be assembling it onsite.

The OrangeQS MAX is an important product for the quantum industry. Quantum chip producers need to perform cryogenic testing on every single chip, so addressing testing is essential for them. When they want to scale up the size of their quantum chips and the quantum computers they are deployed in, testing becomes a significant bottleneck. The OrangeQS MAX addresses this, as the only turn-key test equipment for utility-scale quantum chips available in the market at the moment.

Categories: News

Tags:

Dhoot Transmission Group Secures Strategic Growth Investment from Bain Capital for Significant Minority Stake Sale

No Comments
BainCapital

Partnership empowers Dhoot Transmission Group to drive continued innovation, expand global reach, and capitalize on high-growth segments

MUMBAI – January 16, 2024 – Dhoot Transmission Group (“Dhoot”), a leading manufacturer of automotive components, today announced a strategic growth investment from Bain Capital, a global private investment firm. Through an aligned partnership with Founder and CEO, Rahul Dhoot, Bain Capital will leverage its global automotive expertise and deep value-creation capabilities to support the company’s continued growth. Together, they aim to accelerate Dhoot Transmission Group’s leadership in high-demand segments, foster continued innovation, and support global expansion through strategic acquisitions and partnerships.

Founded in 1999, Dhoot Transmission Group is a global leader in Two-Wheeler and Three-Wheeler Wiring Harness. The company’s advanced Wiring Harnesses also power Heavy and Light Commercial Vehicles, Off-road Vehicles, and Farm Equipment in ICE and EV segments across the globe. Over the past 25 years, Dhoot Transmission Group has also diversified in Electronics Sensors & Controllers, Automotive Switches, Connection Systems and an array of EV products, including Charging Guns, Inlets, Off-Board Chargers, RCDs, High Voltage & Low Voltage Wiring Harness, and assembly of Li-Ion Batteries. This growth has been fueled by a strong focus on innovation, customer-centric approach, strategic acquisitions, and technology partnerships. Dhoot Transmission Group has also expanded internationally, employing over 10,000+ people across 20+ state-of-the-art manufacturing facilities in India, the UK, Slovakia, and Thailand.

“Our journey over the past two decades has been defined by a commitment to innovation, quality, and trust,” said Rahul Dhoot, Founder and CEO of Dhoot Transmission Group. “Partnering with Bain Capital is an exciting opportunity to accelerate this evolution. Their strategic expertise and integrity make them the perfect partner to help us scale globally and pursue emerging opportunities that deliver value to our customers worldwide.”

“Over the past two decades, Rahul has built Dhoot Transmission Group into a market leader, serving as a critical partner to OEMs powering India’s Two-wheeler market—the largest in the world with a strong growth trajectory. Dhoot’s entrepreneurial culture, customer focus, and investments in cutting-edge technology have also now positioned the company at the forefront of several high-growth segments. We are excited to partner with Rahul and the Dhoot Transmission team to build on their impressive growth journey and help drive expansion through M&A and technology partnerships,” said Rishi Mandawat, Partner at Bain Capital. “Their customer-first approach and strong employee engagement has helped the group to build a leading auto-component business and together, we see significant opportunities to expand both organically and inorganically, accelerate exports, and enhance their global footprint,” added Saahil Bhatia, Managing Director at Bain Capital.

Bain Capital’s investment was made through its Private Equity team, which has deep experience supporting the growth of founder-led companies and global industrial platforms. Since establishing its Mumbai office in 2008, Bain Capital has built one of the largest private equity teams in India, with notable investments including Hero MotoCorp, RSB Transmissions, Porus Labs, 360one Wealth, CitiusTech, J.M. Baxi, and Quest Global.

Terms of the private transaction, which is subject to regulatory approval, were not disclosed.

Alvarez and Marsal, AZB & Partners, ERM, ICICI Securities, Kearney, Kirkland and Ellis, KPMG and PwC served as advisors to Bain Capital

Singhi Advisors, Trilegal and Deloitte served as advisors to Dhoot Transmission Group

About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).

About Dhoot Transmission Group 
Dhoot Transmission Group is a distinguished group of companies under the ownership of Rahul Dhoot and family. As a rapidly expanding global automotive components enterprise, Dhoot Transmission Group excels in a broad spectrum of business pursuits, extending from the design to manufacturing of Wiring Harnesses and Components (including several EV Components) tailored for Two-wheelers, Three-wheelers, commercial vehicles, Off-road vehicles as well as Farm equipment.

Categories: News

Tags:

Ardian invests in Sicer, a global leader in the production of specialty coatings for high-end ceramic decoration

Ardian

Ardian, a world-leading private investment house, announces that it has acquired a minority stake in Sicer, a long-established player active globally in the development and production of premium specialty coatings for the ceramic industry. The investment aims to support Sicer’s ambitious development plans, in partnership with entrepreneurs Gianfranco Padovani and Giuliano Ferrari, who are reinvesting to acquire the majority stake of the group. Sicer majority is being sold by the private equity fund Demos 1, managed by Azimut Libera Impresa SGR (Azimut Group), which had invested in the company in November 2020.

Founded in 1993 and headquartered in Fiorano Modenese, Sicer specializes in the development and production of innovative, high-performance coatings, including frits, glazes, engobes, glazes and inks. These products are essential for the surface treatment of high-end ceramic tiles, enhancing their durability, resistance, and aesthetics. Over the years, the company has built a strong reputation with a customer-oriented approach based on its commitment to quality and sustainability, exceptional service and innovation capabilities.

Sicer has a widespread presence in the main global ceramic districts, with production sites in Italy, Spain, the United States, Mexico, India, and Indonesia, and expects to close 2024 with revenues of approximately 130 million euros.

Ardian will acquire a minority stake in Sicer to support the company’s entrepreneurs and managers, Gianfranco Padovani (Executive Chairman), Giuliano Ferrari (CEO), and Marco Eumenidi (Commercial Director). They have an extensive experience in the ceramic market and strongly believe in the company’s business model. As part of the transaction, they will reinvest significantly to acquire a majority stake in Sicer, reaffirming their confidence in the group’s growth potential.

Ardian’s investment will help Sicer further consolidate its position in the European market, particularly in Italy and Spain, key regions for high-end ceramics. Additionally, Sicer plans to expand in the United States and India, leveraging its innovative products and strong international customer relationships. The company’s growth strategy focuses on enhancing its production capabilities, developing new products, and pursuing potential acquisitions to strengthen its global position.

“Sicer is a company with strong growth potential, blending tradition and innovation with technical expertise and customer focus. We believe in its potential and the vast experience of its management team, with whom we share values and vision. Together, we are confident we will achieve great results.” François Jerphagnon, Member of the Executive Committee, Managing Director Ardian France & Head of Expansion, Ardian

“We are excited to work with Sicer, an Italian excellence that has already secured a strong position in the international market and will continue to grow to become a preferred partner of main ceramic tiles players. Sicer’s strategy will benefit from Ardian global network and will focus on developing new products and expanding internationally. We are committed to supporting the entrepreneurs throughout this journey.” Marco Molteni, Managing Director Expansion, Ardian

“We are excited to partner with Ardian, whose support will be crucial to achieve our growth plans. This investment will strengthen our international presence, particularly in North America and Asia. With Ardian’s backing, we will continue to innovate and offer high-quality service. On behalf of the entire management team, we thank Azimut Libera Impresa for their support over the past four years, which has been instrumental in reinforcing Sicer’s global leadership through strategic investments and acquisitions.” Gianfranco Padovani, Executive Chairman, Sicer

“Ardian’s investment reflects the strength of our business model and growth potential. We look forward to working closely with Ardian to execute our strategic plans and drive Sicer’s global success, continuing the path started with Azimut Libera Impresa.” Giuliano Ferrari, CEO, Sicer

List of participants

  • Buyers

    • Ardian team: Marco Molteni, Giacomo Brettoni, Elisabetta Bozzoni Pantaleoni and Edoardo Munari
    • M&A (Buy side): Mediobanca
    • Legal advisors: PedersoliGattai (Stefano Catenacci) and Studio legale Sutich Barbieri Sutich (Giorgio Barbieri)
    • Business due diligence: Advancy
    • Financial due diligence: KPMG (Matteo Contini)
    • Tax due diligence: Gitti&Partners (Diego De Francesco), Abaco Commercialisti Associati (Alessandro Stradi) and Poggi&Associati (Vittorio Melchionda)
    • ESG due diligence: Ramboll
    • Insurance dd: Mactavish

  • Azimut

    • M&A (Sell side): DC Advisory (Giuliano Guarino)
    • Legal Advisor: Studio Giovannelli e Associati (Alessandro Giovannelli)

  • Sicer

    • Business Advisor: OC&C
    • Financial Advisor: EY

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT SICER

Sicer is one of the world leaders in the production of glazes, inks, and other solutions for high-quality ceramic decoration. Founded in 1993 in Fiorano Modenese, the heart of the Italian ceramic district, it specializes in the development and production of innovative, high-performance solutions for the surface treatment of high-end ceramic tiles, such as frits, glazes, enamels, and inks. With over 500 employees and production sites in Italy, Spain, the United States, Mexico, India, and Indonesia, Sicer has a widespread presence in the main global ceramic districts.

sicer.it

Media contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com

Categories: News

Tags: