Castik Capital acquires majority stake in Andra Tech Group from Equistone

Amster­dam / Munich — Funds advi­sed by Castik Capi­tal S.à r.l. (“Castik”) have signed an agree­ment to acquire a majo­rity stake in Andra Tech Group. The sellers of the shares are funds advi­sed by Equis­tone Part­ners Europe, Moun­tain­view Capi­tal and the manage­ment of the group. Funds advi­sed by Equis­tone Part­ners Europe and the manage­ment team will retain a mino­rity stake in the company as part of the tran­sac­tion. The current CEO of Andra Tech Group, Geert Ketel­a­ars, will conti­nue to lead the company toge­ther with his manage­ment colle­agues Adwin Kanne­kens, Eric Urff and Gerben Heideman.

Foun­ded in 1973, Andra Tech Group (form­erly Kusters Beheer) has deve­lo­ped into a leading group for the manu­fac­ture of high-tech precis­ion compon­ents and submo­du­les. The Group consists of nine opera­ting compa­nies in the Nether­lands and Germany with a total of eleven modern and fully inves­ted produc­tion faci­li­ties that focus on the manu­fac­ture of high-quality precis­ion parts and modu­les. With more than 700 employees, Andra Tech Group serves an inter­na­tio­nal custo­mer base from a wide range of indus­tries, inclu­ding the semi­con­duc­tor, pack­a­ging, food, mobi­lity, medi­cal and aero­space indus­tries. The Andra Tech Group manu­fac­tures parts for proto­ty­pes, small to medium-sized batches and large series.

Andra Tech Group now intends to conti­nue its ambi­tious growth stra­tegy and estab­lish itself as a leading inter­na­tio­nal manu­fac­tu­rer of high-tech precis­ion compon­ents and submo­du­les through orga­nic growth and further acqui­si­ti­ons. The focus is on invest­ments in the Dutch dome­stic market and expan­sion into new regi­ons. Part of the growth stra­tegy is also to further expand the Group’s tech­no­lo­gi­cal exper­tise in the area of high-precis­­ion manufacturing.

“In Castik, we have found the ideal part­ner to support us in expan­ding our capa­ci­ties and exper­tise — both through orga­nic growth and targe­ted acqui­si­ti­ons. We look forward to working closely with Castik’s team, whose expe­ri­ence and confi­dence in our culture and DNA has convin­ced us. The fact that the funds advi­sed by Equis­tone remain inves­ted as mino­rity share­hol­ders shows their contin­ued confi­dence in Andra Tech Group and our stra­tegy,” explains Geert Ketel­a­ars, CEO of the Andra Tech Group.

“We would like to thank the Andra Tech Group manage­ment team for the trust they have placed in us and look forward to deve­lo­ping the company further toge­ther. Andra Tech Group opera­tes in an attrac­tive market envi­ron­ment charac­te­ri­zed by a steadily incre­asing demand for high-tech compon­ents and rapid tech­no­lo­gi­cal progress. Our primary goal is to support Geert and the entire manage­ment team in the next phase of growth. A parti­cu­lar focus will be on expan­ding the custo­mer base and the Group’s tech­no­lo­gi­cal exper­tise,” says Michael Phil­ipps, Part­ner at Castik Capi­tal.

“It has been a great plea­sure to support Andra Tech Group on its jour­ney over the past three years. During the part­ner­ship, Andra Tech Group has made four acqui­si­ti­ons, further streng­the­ned its posi­tion in the Nether­lands and at the same time successfully ente­red the German market. Andra Tech Group is ther­e­fore ideally posi­tio­ned to successfully conti­nue the strong, dyna­mic growth of recent years into the future. We look forward to working with the Castik team and to conti­nuing to support Andra Tech Group in its next steps,” adds Hubert van Wolfs­win­kel, Part­ner in Equistone’s Amster­dam office.

Consul­tant:

Andra Tech Group and the Equis­tone funds were advi­sed on the tran­sac­tion by William Blair (M&A), BCG (Commer­cial), PwC (Finan­cial & Tax), A&O Shear­man (Legal) and Tauw (ESG).

Castik Capi­tal S.à r.l. was advi­sed by Lincoln Inter­na­tio­nal (M&A and Finan­cing), Roland Berger (Commer­cial & Opera­tio­nal), PwC (Finan­cial, Tax, ESG), Andra Tech Group, Skad­den, Arps, Slate, Meag­her & Flom (Legal), Hout­hoff (Legal) and White and Case (Finan­cing legal).

About Equis­tone Part­ners Europe

The funds advi­sed by Equis­tone Part­ners Europe are among the most active Euro­pean equity inves­tors with a team of more than 40 invest­ment specia­lists in seven offices in the Nether­lands, Germany, Switz­er­land, France and the UK. The Equis­tone funds invest prima­rily in estab­lished medium-sized compa­nies with a good market posi­tion, above-average growth poten­tial and an enter­prise value of between EUR 50 and 500 million. Since its foun­da­tion in 2002, the funds have inves­ted equity in more than 180 tran­sac­tions. The port­fo­lio of Equis­tone funds curr­ently compri­ses around 40 compa­nies across Europe. www.equistonepe.com.

About Andra Tech Group
www.andratechgroup.com/de

About Castik Capi­tal S.à r.l.
www.castik.com/de/