Equistone Partners Europe has acquired Switzerland-based Roth Group, a provider of domestic and industrial fire protection, insulation and coating services. The seller was Ufenau Capital Partners. No financial terms were disclosed. Ernst & Young provided financial and tax advice to Equistone on the transaction.
Funds managed by Equistone Partners Europe (“Equistone”) have acquired a majority stake in Roth Group (“Roth” or “the Company”), alongside its current management, from Swiss investor Ufenau Capital Partners. The Company is one of the leading providers of services for domestic and industrial fire protection, insulation and coatings in Switzerland.
Since its founding in 1958, the Gerlafingen-based Company has evolved into a leading provider of services in fire protection, insulation and coatings. Its products are particularly targeted towards domestic, industrial and commercial buildings, as well as infrastructure projects for both the private and public sectors. With nine offices in Switzerland and over 350 employees, Roth has established a significant presence within the market. In the last 18 months the Company has been strengthened through four add-on acquisitions, further cementing its market-leading position in Switzerland.
Stefan Blaser, CEO and Chairman of the Board of Roth Group, commented: “On behalf of Roth, I would like to thank the team at Ufenau Capital Partners for its support and for what has been achieved during our partnership. We look forward to working with Equistone, an established mid-market investor that specialises in supporting companies to achieve their growth strategies, both organically and through acquisition. Recent macroeconomic developments and an increase in the Swiss population have strengthened the real estate and construction sectors. This, combined with an increasing number of regulatory requirements in fire protection and insulation, provides enormous opportunities for Roth.”
Philippe Stüdi, Partner at Equistone Partners Europe, said: “Thanks to the dedication and ability of Roth’s long-serving employees as well as its sustainable corporate policy, the Company has been able to achieve an excellent position within the Swiss market. Going forward we see potential for further expansion in the current fragmented market and we are confident that we will be able to support the Company’s growth strategy.”
Dr. Peter Hammermann, Philippe Stüdi, Roman Emanuel Hegglin and David Oliver Zahnd led the transaction for Equistone Partners Europe. Equistone was advised by PwC (Commercial), Ernst & Young (Financial & Tax), Lenz & Staehelin (Legal) und Willis (Insurance).
The financial terms of the deal are undisclosed.