Cross acquires globally leading company for high-precision tool systems

The private equity firm Cross has acquired a majority stake in the Swiss Tools Group as part of a succession solution.

Together with its affiliated companies Bär + Mettler AG and MBM AG, Swiss Tool Systems AG is a globally leading provider of high-precision, modular tool systems. The original product range was based on modular boring systems, and these gave rise to the company’s values, including absolute precision, high flexibility and proverbial Swiss reliability. The product range has been continuously extended in an intelligent way. Today, Swiss Tools is also a leading global supplier of static turning tools. Swiss Tools works exclusively with retailers –products are not sold to end customers directly. This ensures the utmost product and service quality. Swiss Tools’ typical end markets include the mechanical engineering, automotive, aerospace and energy sectors.

Markus Reich, Managing Partner at Cross Equity Partners AG: “Swiss Tools has an experienced management team, a unique selling proposition and an exceptional market position. As a globally leading Swiss high-performance tooling company, Swiss Tools is at the heart of Cross’ investment focus.”

Cross invests in leading and profitable mid-sized companies with an entrepreneurial management team in fast growing industries such as engineering, machinery and industrial products. As a long-term investor, Cross supports sustainable profitable growth. Cross’ existing portfolio includes punker, the European leader in highly efficient airflow components, and Rademacher, a leading supplier of smart home solutions.

Dr Michael Beck, vendor and CEO of the Swiss Tools Group: “I have known Cross to be a specialist in succession planning for many years. It was clear to me that Cross was the right partner even for my own succession planning and I approached them directly.”

Together with the management team, Cross has planned a profitable growth strategy for Swiss Tools. The strategy includes further internationalisation in key markets such as the USA, China, Japan, South Korea and Mexico, expansion of the product range and the selective acquisition of additional companies. Dr Michael Petersen, Managing Partner at Cross Equity Partners AG: “By taking over Swiss Tools, Cross has been able to acquire another of Switzerland’s leading global ‘hidden champions’. We are looking forward to working closely with the management team to support their future profitable growth.”

About Swiss Tools Group

Together with its affiliated companies Bär + Mettler AG and MBM AG, Swiss Tool Systems AG is a leading global company for high-precision, modular tool systems. The original product range was based on modular boring systems, and these gave rise to the company’s values, including absolute precision, high flexibility and proverbial Swiss reliability. Swiss Tools works exclusively with retailers –products are not sold to end customers directly. This ensures the utmost product and service quality. Swiss Tools’ typical end markets include the mechanical engineering, automotive, aerospace and energy sectors. The company was founded in 1973 and is headquartered in Bürglen, Switzerland. The company also has a subsidiary in the USA and a sales office in China.

 

Source: Cross Press Release

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