Stürtz Welcomes New Investment PartnerNovember 2nd, 2017 by Editor
Equity fund CGS Management of Pfäffikon, Switzerland has acquired a majority stake in fenestration machinery maker Stürtz. Terms of the deal were not disclosed.
Several members of the current Stürtz management team, from divisions in both Germany and North America, now hold equity positions in the company.
“This is an exciting time for Stürtz,” said Ellis Dillen, president and CEO for Stürtz’s North American operation. “The CGS team is a formidable entity in the European equity fund arena. They have consistently pursued successful ‘buy and build’ transactions focusing on industrial manufacturing, machinery and highly innovative businesses. Their expertise and extensive resources will allow us to continue pursuing aggressive research and development efforts towards automation of PVC window and door manufacturing, as well as to help us achieve some of the growth strategies we have had in place to make us even stronger in our market. CGS recognizes the strong team we’ve built around our dedicated customer base and will continue to invest in the people and the vision of our organization.”
CGS is an independent, experienced industry partner specialized in building medium-sized companies into international groups. Since 1999, CGS funds have been investing in platform companies in German-speaking countries and making add-on acquisitions worldwide.