Argos Wityu acquires a majority stake in Misapor management buy-out
Geneva – Argos Wityu announces the acquisition of a majority stake in MISAPOR, the leading foam glass granulate producer in Europe through an MBO.
Located in Surava, Switzerland, Misapor manufactures foam glass granulate, an innovative building material, 98% of which is made from recycled glass. In addition to its excellent insulating characteristics, foam glass granulate is durable, inert, lightweight, easy to handle and withstands high pressure. It is used in the construction industry for ground insulation, lightweight aggregate, landscaping and to produce lightweight and highly insulating concrete.
The main application of foam glass granulate is thermal ground insulation. This market has experienced strong growth and is expected to continue to grow in the coming years. In its niche within the construction material market, Misapor is the clear market leader in Europe with a market share of 77% in Switzerland and 54% in Germany – currently the main two countries in the market for foam glass granulate. Misapor’s product addresses two global megatrends, sustainability and energy saving.
Misapor has experienced strong growth in Switzerland over the past years by developing and educating the Swiss market about its innovative product. To continue this growth, Misapor plans to expand to Germany and other European countries. In order to finance new production facilities in new countries and to enhance growth and fully exploit its potential, Misapor’s shareholders decided to look for a strong financial partner. All old shareholders had the opportunity to cash out or reinvest in the transaction and continue to be a part of Misapor’s next expansion phase. The acquisition was funded by re-investing shareholders, the management team and Argos Wityu funds with existing debt from Graubundner Kantonalbank.
For more information on Misapor and its products, please visit the company website www.misapor.ch
À propos d’Argos Wityu (www.argos-soditic.com) :
Created in 1989, Argos Wityu is an independent European Private Equity firm with offices in Geneva, Paris and Milan, wholly owned and operated by its partners. Argos Wityu focuses on management buy-outs and buy-ins in small and medium sized companies across Europe, but primarily in Switzerland, France and Italy. The group of funds managed by the firm typically take majority stakes ranging from €10m to €50m in companies with revenues of €20m to €400m. The operations Argos Wityu has carried out include Buffet Crampon, Roc-Eclerc, Oxbow, Du Pareil au Même and Kermel in France, Bellco, GPP, Sparco and CH&F in Italy, and Maillefer, Kägi and ORS in Switzerland.
In €275m fund ARGOS WITYU V raised in 2006 has allowed the firm to carry out 13 transactions to date: seven MBOs (Sitour, GPP, FHB, Kägi, Orsyp and LEXSI, Misapor), quatre BIMBOs (Axyntis, Marie Laure PLV, Alkan and Bellco), one spin-off (Alkan) and two MBIs (DinnoSanté, Mertz).
Argos Wityu – Guy Semmens, Cédric Bruix, Cédric Perlet
Buy side Advisors – Legal: Lenz & Staehelin (Andreas Rötheli, Felix Gey); Financial: Credit Suisse (Heinz Hasler, Nicolas Faivre); Financial and Tax DD: KPMG (Tobias Valk, Rolf Langenegger); Market DD: KPMG (Miriam Thomas), Abegglen Management Consultants (Adrian Rauh, Brigitte Andenmatten); Real Estate DD: Helbing Beratung + Bauplanung (Andreas Winkler, Nam Hoang); Environmental DD: Ecosens (Albert von Däniken, Bettina Baumgartner); Insurance DD: Kessler + Co (Klaus Peretti)
Sell Side Advisors – Legal: Ruoss Vögele Partner (Alexander Vögele)
Press contact Argos Wityu
Tél : 33-(0)6 20 41 39 82