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Axa Private Equity acquires majority stake in Phönix/Strack

Axa Private Equity has acquired a majority stake in the Phönix/Strack Group, a manufacturer of valves for companies in the fields of energy, petrochemicals and chemicals.

The group’s products are sold under the brand names Phönix and Strack. It was founded in 1910 and remained in private hands until now.

Managing partners Lothar Fichtner and Markus Rosam will continue to implement the company’s growth strategy. Axa Private Equity will support the implementation of this strategy.

The Phönix/Strack Group generates approximately EUR40m in revenue annually with its 250 employees at plants located in Volkmarsen and Magdeburg as well as through its sales entities in France and the US.

Following the acquisition of the majority stake by Axa Private Equity, the company plans to increase its international presence through acquisitions and by exploiting existing market opportunities.

Fichtner says: “Axa Private Equity is our partner of choice with whom we will continue to pursue our growth objectives in the coming years.”

Dirk Wittneben, managing director of Axa Private Equity, adds: “Phönix/Strack is an extremely well positioned company with outstanding products. The partnership makes perfect sense as, using our experience in helping companies grow, we can support Phönix, in its continued strategic expansion. As a stakeholder we are looking forward to working together with the experienced management team to achieve a common objective of continued growth.”

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