Cognetas Puts Three German Business On the Block

Private equity firm Cognetas will sell three of its German businesses, Reuters reported, as the buyout shop aims to close a 1 billion euro ($1.36 billion) fund it raised roughly a decade ago. The firm is selling aluminium auto parts maker KSM Castings, pond equipment maker Oase and communications firm Commarco, Reuters said.

(Reuters) – Private equity firm Cognetas has put three of its German businesses up for sale as it looks to draw to a close a 1 billion euro ($1.36 billion) fund raised a decade ago, people familiar with the situation said.

Cognetas has hired Jefferies to sell aluminium auto parts maker KSM Castings, Macquarie to sell pond equipment firm Oase, and Rothschild [ROT.UL] to sell advertising and communications agency Commarco, the people said.

The three companies are Cognetas’s remaining investments in its 1 billion euro fund, raised in 2001. The firm spun out from Electra Partners in 2005, the same year it raised a second 1.25 billion euro fund.

Cognetas declined to comment.

KSM, which makes the front chassis for all Volkswagen Golf’s manufactured globally, could fetch around 300 million euros, two of the people said.

By Simon Meads and Philipp Halstrick

(Additional reporting by Alasdair Reilly in London; Editing by Steve Slater)