Bartholet Maschinenbau AG (BMF) and Argos Wityu announce the entry of the Argos Wityu funds into the BMF capital
Geneva – Bartholet Maschinenbau AG (BMF) with its headquarter in Flums, Switzerland, located in the middle of the gorgeous “HEIDILAND” region, is a leading international Swiss company in the fields of cable railway systems, amusement park facilities as well as mechanical engineering and metal processing.
As a result of the comprehensive and future-oriented development, production and distribution offer, BMF enjoys an excellent reputation among its customers worldwide. A motivated and qualified team of more than 200 employees as well as a modern infrastructure guarantee quick, customer-specific project work and realisation of complex passenger transportation systems.
For nearly 50 years Bartholet Maschinenbau AG has planned, produced and installed cable railways and all kinds of special constructions all over the world. In recent years, continuous innovation and investments in the development of new technologies and new products have enabled BMF to become a credible, reliable partner for its customers.
Benefitting from a larger product range and a strong reference list, the Group has experienced remarkable growth in recent years. To enhance this positive development, the BMF Group and its shareholders have decided to team up with Argos Wityu as their financial partner. The entry of Argos Wityu in its capital gives the Group an even stronger capital structure and aims at accelerating this development by giving the Group, its family shareholders and its management more resources, both financial and operational, to accompany its customers in their projects.
While Roland Bartholet will remain Chairman of the BMF Group and Thomas Spiegelberg will remain CEO of the BMF Group, Argos Wityu representatives will join the board of the Group.
The transaction is a full equity transaction and does not imply any acquisition debt financing.
Roland Bartholet, Chairman of the BMF Group: “BMF has grown almost 20% per year over the last 15 years and is now entering a new important phase of development. We invested a lot in the last few years and set the ground to achieve our ambitious objectives for the coming years. The Bartholet family is convinced that with Argos as our new sparring partner and important shareholder, we can even accelerate this development.”
Thomas Spiegelberg, CEO of the BMF Group: “I believe BMF has enormous potential to grow and develop its position as one of the most significant partners on the market both in the field of ropeways and amusement park installations. We are happy that we found in Argos a motivated and hands-on partner that will work closely together with us to realize that potential.”
Cédric Bruix, Partner in Argos Wityu: “We are happy to accompany the Group and its management in an exciting phase of its development. We have been impressed by the capacity of this family business to enter into new markets: the investments made in technology and industrial assets, the quality of the engineering resources and the recent achievements in terms of product innovation, both in the ropeways segment and the amusement rides and machine building, are impressive. We are confident that, with a new stronger capital base, those strengths and achievements are going to support the new development phase we have planned together with management and the existing shareholders of the Group. We will try to help the Group grow further using our international network and via our knowledge of growth management which requires organization and resources”.
For more information on BMF and its activities, please visit the company website www.bmf-ag.ch
About Argos Wityu
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 invests from €5m to €50m in companies with revenues of €20m to €400m.
The firm has developed a track record of unusual, complex and off-market transactions where the firm’s combination of local presence and international experience is able to add value to the small and medium-sized businesses it invests in.
With this investment in BMF, Argos Wityu has completed its 3rd transaction in Switzerland in 2011, after the investment in Saleco realized in March 2011 and the add-on investment in Misapor to buy-out the minority shareholder and invest in the expansion in Germany. The transactions Argos Wityu has previously carried out in Switzerland include Maillefer, Kermel, Axyntis, ORS and Kägi.
At the end of 2010, Argos Wityu raised its new Euroknights VI fund with a hard cap of €400m. The firm has assets under management of €750m allocated to its lower mid-market buy-out funds and Argos Expansion, the firm’s minority equity and expansion capital fund which held a first close in 2010.
Argos Wityu – Cédric Bruix, Cédric Perlet
Advisors – Legal: BakerMcKenzie (Martin Anderson); Financial and Tax DD: Ernst & Young (Chris Tattersall, Gernot Zitter); Market DD: Vanat Consulting (Laurent Vanat), Real Estate DD: Helbing Beratung + Bauplanung (Nam Hoang); Environmental DD: Ecosens (Albert von Däniken); Insurance DD: Kessler + Co (Klaus Peretti); Corporate Finance: SynPro (Gert Illig)
Argos Wityu: Cédric Bruix (Partner), Cédric Perlet (Associate)
BMF: Roland Bartholet (Chairman), Thomas Spiegelberg (CEO)