Private equity firm IK Investment Partners’ (IK) IK Small Cap II Fund, together with management and company founders, is to acquire Bahr Modultechnik, a manufacturer of modular positioning systems.
Financial terms of the transaction, which is subject to regulatory approval, have not been disclosed.
Founded in 1990 by the brothers Frank and Dirk Bahr, Bahr Modultechnik focuses on delivering individual solutions based on a sophisticated portfolio of customisable and technologically leading products. Accurate and robust positioning systems are required in a wide variety of industries from mechanical engineering to medical technology. The Company’s unique linear positioning systems are sold in more than 20 countries around the globe.
The investment marks the first acquisition of IK’s recently raised IK Small Cap II Fund which closed at its hard cap of EUR550 million in February 2018. Bahr represents the core characteristics that IK looks for in a business including: highly sophisticated product offering at industry leading quality and performance levels, (strong customer retention with more than 90 per cent of sales related to recurring and repeating loyal customers; a capable management team; and a track record of long-term and sustainable profitability and growth.
Bahr is a market leading family-owned business, led by founder Dirk Bahr who will continue to manage the business day-to-day alongside Cihan Halavurt (Head of Sales and Strategy). IK will work with Dirk and Cihan to accelerate the Company’s organic growth strategy and will continue to invest in its operations, route-to-market and product development.
Frank Bahr, Founder, says: “We are very proud of the Company’s development and to have found the right partner in IK for the years to come. This is a natural time for a change in ownership structure.”
Dirk Bahr, says “Innovation has always been at the heart of our business as we seek to provide our customers with practical solutions using the highest quality materials and technology. In IK we have found a partner who shares our mind-set. We look forward to working together with their experienced team to continuously develop the Company and its market positioning.”
Nils Pohlmann, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund, says: “We are delighted to be working with the management team to build on the great achievements of the Bahr family, who has successfully established Bahr as one of the most innovative industrial companies for linear positioning systems. IK has a strong track record of successful investments in industrial companies and also in managing succession situations. We look forward to supporting the Company’s expansion.”
The acquisition of Bahr represents IK’s sixth small cap investment in DACH and first investment in the newly established IK Small Cap II Fund.
