Bain Capital will acquire control of elevator parts company
Funds informed by Capvis and Triton Partners announced the transaction of Wittur, one of the globe's largest private manufacturers of elevator systems and parts, to resources handled by Bain Capital Europe. Bain Capital will acquire 100 percent ownership of Wittur on the conclusion of the sale. Since the acquisition in 2010, the leadership of Wittur, with the new direction of Doctor Walter Rohregger, has implemented a number of growth and operational improvement campaigns to build the business. Some of the most noteworthy developments feature new product designs for emerging markets, a major strengthening of the company and the management staff as well as a considerable improvement of the production plants.
The organization has presented a statement making their appreciation on register: "We would like to thank the managerial team, the staff members, the Chair, the Board and any other shareholders for their efforts to Wittur's' advancement. Collectively we have done an exceptional duty building the business. Triton Partners was the majority proprietor of Wittur for four years. We hope the business, the management and all their personnel ongoing success.
"We are delighted to be combining forces with Wittur, who are one of the globe's most innovative and sector leading performers in a highly attractive industry," said Michael Siefke, a Managing Director at Bain Capital. "The continued contracting out craze in the lift business and the organization's strong relationships with its clientele make it an incredibly interesting time for us to direct the second stage of the group's growth, both organically and through guiding consolidation."
The transaction is subject to standard regulatory approvals. The parties have decided to not reveal the purchase amount.
The Wittur Group is one of the planet's largest private manufacturers of lift systems and parts with a global network of 11 manufacturing plants and 21 marketing firms. Wittur's core products comprise doors, safety parts and gearless drives, as well as cars, slings and, counterweight frames. These are developed not only for original systems, yet equally for modernisation jobs. The range of products includes unique customized creations and finishes, durable products, sea installations, as well as standardised instruments.