IK Partners’ (IK) IK X Fund is to acquire a majority stake in Driescher, a German manufacturer of high-tech medium and low voltage switches and switchgears, from the firm’s founding family who will be reinvesting in the business.
As part of the transaction, the co-founders and co-shareholders of the company’s Czech subsidary, Dribo, will also be selling their shares and reinvesting into the Group.
Financial terms of the transaction have not been disclosed.
Established over 85 years ago, Driescher provides critical grid components to many large municipal utilities, industrial customers. and railway operators. The Group offers a comprehensive portfolio of products and services, necessary for the expansion of energy grids and the modernisation of existing infrastructure.
According to a press statement, IK will support Driescher as it looks to “strengthen its core business by expanding operations in Germany and entering into other international markets. The Group may also consider value-accretive bolt-on acquisitions.”
