Cross to acquire German air-flow solutions group, punker, from Quadriga Capital

Swiss private equity firm Cross is acquiring a majority stake in the German punker group from Quadriga Capital. The transaction is still subject to the approval of the competition authorities.

punker is the European market leader for high efficiency air flow components in challenging environments. Its products are used in a wide range of areas, from heating, ventilation, and airconditioning (HVAC) technology to applications in household appliances, railway and agricultural machinery and the wider mechanical engineering industry. HVAC technology in particular, punker’s most important target market, is expected to enjoy sustainable growth in the coming years. Thanks to USPs such as the long life, energy efficiency and low noise levels of its solutions, punker is very well positioned to profit from the continued market growth.

Dr Michael Petersen, Managing Partner in Cross Equity Partners AG, says: “punker is a highlyspecialised provider in a niche market and has a leading market position in Europe. We are confident that, together with the management, we can provide punker with the right impetus to further internationalise its success.”

Cross invests in leading and profitable mid-sized companies with an entrepreneurial management in fast-growing industries such as engineering, machinery and industrial products. As a long-term investor, Cross supports sustainable, profitable growth. The current Cross portfolio includes Polymetrix AG, the world leader in post-condensation technology for PET; Rademacher, a leading provider of smart home solutions; and Micromacinazione, the European market leader in micronisation technology and services for the pharmaceuticals and fine chemicals industries.

Dr Henning Bähren, CEO of punker: “In Cross, we have gained a partner with a lot of industry experience and with whom we can achieve our aim of continuing the successful growth of punker.”

Jörg Mugrauer, Partner in Quadriga Capital: “We would like to extend our thanks to all employees and the management team of punker for the excellent cooperation over the last years. We are pleased that we have found with Cross a successful and well-respected successor as shareholder for the coming years, continuing to support the growth path of punker going forward.”

Cross will bring additional proven industry experts to punker’s Advisory Board and is confident that this will further strengthen the company’s strategic leadership.

Markus Reich, Managing Partner in Cross Equity Partners AG, says: “punker’s outstanding features are its long-standing customer relationships, high levels of technical expertise and geographical reach, which offer an excellent foundation for the further successful development of the company in new target markets such as the USA and Asia.” 2

About punker

punker is the European market leader for high efficiency air flow components in challenging environments. With around 300 employees at its two locations, Eckernförde in Germany and Hickory in the US, the company generates revenues of around EUR 40 million. Its products are used in a wide range of areas, from heating, ventilation, and air-conditioning (HVAC) technology to applications in household appliances, railway and agricultural machinery and the mechanical engineering industry in general. In addition to the high quality of its advice and products, punker is known for the long life, energy efficiency and low noise levels of its solutions. Since the company was founded in 1954, it has developed expertise that has made punker an industry leader worldwide.

About Cross

Cross is a Swiss private equity firm with the mission to support the sustainable development of midsized companies in Switzerland, Germany and Austria through equity capital, industrial expertise and an extensive relationship network – amongst others in the context of succession of family-owned businesses and corporate spin-offs. Cross invests in leading and profitable mid-sized companies with an entrepreneurial management in fast-growing industries such as engineering, machinery and industrial products. As a long-term investor, Cross supports sustainable, profitable growth. The independent Cross Fund is exclusively advised by Cross Equity Partners AG, Pfäffikon, Schywz. The Cross team has several decades of private equity and industrial experience. To date, it has already successfully invested in approximately 25 companies in Switzerland, Germany and Austria. Cross’s current portfolio includes Polymetrix AG, the world leader in post-condensation technology for PET; Rademacher, a leading provider of smart home solutions; and Micromacinazione, the European market leader in micronisation technology and services for the pharmaceuticals and fine chemicals industries.

About Quadriga Capital

Quadriga Capital is one of the leading private equity companies in the German speaking countries specialized in acquiring and strengthening medium-sized companies. Investors in the funds advised by Quadriga Capital are institutional investors such as international pension funds. The portfolio companies of Quadriga Capital comprise, inter alia, BURGERISTA Group, M&R Automation and ibis acam Group in Austria, Ameos Group in Zurich, Eterna Group from Passau/Bavaria, Ipsen Group in Kleve/North Rhine-Westphalia or LR Health and Beauty Systems in Ahlen.

 

Source: Cross Press Release

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