October 24, 2012

Equita sells Barat Ceramics Holding GmbH to Steadfast Capital

After a six-year holding period, Equita Holding has sold its stake in the Barat Ceramics Group (“Barat”). The buyers are Steadfast Capital Fund III, L.P., which is administered by Steadfast Capital GmbH, and the Barat Ceramics management team. The transaction was completed today. The parties have agreed not to disclose the purchase price.

Barat Ceramics (www.barat-ceramics.com) develops, manufactures and distributes a wide range of technical ceramic products. The company’s oxide ceramic products are used as high-performance materials for diverse applications in many different industries. Major sales markets are medical technology, plant engineering and mechanical engineering, measurement and control technology as well as ballistics. With headquarters in Auma, in the German state of Thuringia, the company achieved sales of € 18 million in 2011 with a total of 195 employees.

EQUITA acquired Barat Ceramics in 2006 as a non-core business from the US-based Boart Longyear Group. With the support of EQUITA, Barat Ceramics successfully expanded its business as of 2006. It was able to reinforce its position as a leading high-quality niche supplier for small and medium lot sizes, broaden its customer base in the course of building up its international presence and substantially boost its earning power.
Through the sale of its stake in Barat, EQUITA increased its invested capital approximately tenfold over the six-year holding period.

Headquartered in Bad Homburg, Germany, EQUITA (www.equita.de) is an independent private equity company with no affiliations to banks. It acquires interests in midsized enterprises in the German-speaking countries through investment companies under its exclusive management. EQUITA, which is the product of the entrepreneurial tradition of the Harald Quandt family, invests primarily in majority stakes in companies offering significant potential for growth and gains in value. Current investments are being made by the holding company Equita GmbH & Co. Holding KGaA, which was closed in the spring of 2007 at a volume of EUR 315 million  and, in parallel, by Equita GmbH & Co. Covest KGaA, which was closed in the autumn of 2012 at a volume of EUR 135 million. These investment funds have an indefinite term, thus permitting acquisitions with a longer-term investment horizon. EQUITA currently manages nine portfolio companies. Since 1992 these funds have invested in 28 companies and disposed of 19 of those investments. For more information, see the EQUITA website at www.equita.de.

For more information:

Equita Management GmbH

Dr. Michael Hönig
Telefon: +49-6172 9441-0
E-Mail: michael.hoenig@equita.de

Hans J. Moock
Telefon: +49-6172 9441-225
E-Mail: hans.moock@equita.de

Jan C. Drewitz
Telefon: +49-6172 9441-226
E-Mail: jan.drewitz@equita.de