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Quilvest Private Equity sells holding in Acrotec Group to funds advised by Castik Capital

Quilvest Private Equity sold its cornerstone shareholding in Acrotec Group to funds advised by Castik Capital alongside the Management team. 

The acquisition, with an enterprise value of circa CHF280 million (EUR255 million), is the culmination of a common intiative by Management and Quilvest Private Equity to find a suitable long-term partner for the Group. The deal secures the Group’s independence and builds the foundations for further strong growth.   
 
Acrotec has become one of the largest independent suppliers of critical components for the Swiss luxury watch market, producing precision parts such as shock absorbers, oscillating weights and spring barrels. The group also serves a number of other global industrial end markets, such as automotive, aerospace, medtech and telecommunications, in which the manufacturing techniques and precision parts expertise derived from the watch business are applicable.
 
Since Quilvest Private Equity’s investment in Acrotec Group in 2012, the Group has more than doubled its sales and has significantly reinforced its position in the value chain, conquering new market shares and enlarging its product offering. In adition to organic growth, the Group completed 7 build-up acquisitions, including STS (specialised in coating services for watch parts), DJC (offering precision turned parts to the automotive market), Mu-Dec (specialised in watch high-precision turned parts), Petitpierre (offering high-end automation solutions to the watch manufacturers) and Precipro (active in the jewellery market and with a gold machining expertise). All these acquisitions were completed in partnership with their existing management teams who have all wished to participate in the entrepreneurial adventure with Acrotec Group.
 
François Billig, Acrotec Group CEO, says: “We are grateful to Quilvest Private Equity for its trust and support in our ambitious growth strategy during the last four years. We are happy to start this new adventure and to continue our development”.
 
Thomas Vatier, Partner at Quilvest Private Equity, adds: “We are proud to have participated in the growth of Acrotec Group and in its development as an independent leader in the Swiss luxury watch components manufacturing market.  After having successfully partnered with the Management team, we fully trust the Group to continue this success story.”
 

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