A+F Automation+Fördertechnik has been sold to CGS Management
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that it has advised Munich-based Mutares AG (“Mutares”) on the sale of A+F Automation+Fördertechnik GmbH (“A+F” or the “Company”) to funds advised by Swiss CGS Management AG (“CGS”). The transaction closed in December 2017.
For more than 40 years, A+F, based in Kirchlengern, Germany, has been a leading manufacturer of high-end and end-of-line packaging machines for the dairy, food and beverage industries. Mutares acquired A+F from German Oystar Group in November 2014 and put it back on track through a successful turnaround. CEO, Robert Roiger, and the management team welcome the transaction and look forward to driving A+F’s and its 160 employees’ further development. The Company will serve CGS as a platform investment for building an internationally leading industrial group with a presence in all main markets.
Robert Roiger, CEO of A+F, commented, “Mutares has been a perfect partner for A+F during its development so far. With CGS, we have found a strong partner for the next steps of our development and look forward to taking these steps with CGS for the benefit of our customers.”
Robin Laik, CEO of Mutares, acknowledged, “A+F is a perfect showcase of a successful turnaround. Mutares has managed to bring the Company back to profitable growth, hereby confirming the Mutares approach. We see CGS as a perfect partner to accompany the next growth phase of A+F.”
Thomas Anderegg, Managing Partner of CGS, stated, “A+F, as a highly specialized, established packaging machine manufacturer, perfectly matches our market focus and industry expertise. Following the successful return to profitable growth under Mutares, we are now taking over and will focus, jointly with the management, on further international expansion through strategic add-on acquisitions in key markets.”
Lincoln acted as exclusive M&A advisor to Mutares and conducted a structured and globally aligned auction process. Together, with A+F management, Lincoln International developed a strong equity story and preemptively introduced the acquisition opportunity to selected potential buyers in the course of an international roadshow.
Meet our Senior Team
View More Transactions
Lincoln International advised The Beekman Group on the sale of GED Integrated Solutions to MSouth Equity Partners
Lincoln International advised Havencrest Capital Management on its majority investment in Tekton Research
Lincoln International advised Mutares on the sale of Special Melted Products to Cogne Accial Speciali, a subsidiary of Walsin Lihwa
Lincoln International advised Chequers Capital on its agreement to acquire Cheops from Indufin
Lincoln International advised Your Way Medicare on its sale to Accretive, a portfolio company of GTCR
Lincoln International advised Industrial Growth Partners on the sale of Des-Case Corporation to The Timken Company
Lincoln International advised e-Attestations on its sale of a minority stake to Keensight Capital
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.