Swiss buyout firm Argos Soditic has sold domestic cable machinery producer Maillefer Extrusion to Alpha Groupe. Terms were undisclosed but the firm said in a statement it had made a 10 times return on its investment.
Argos Soditic bought Maillefer in 2001 as a spin-off from Nokia-owned manufacturer Nextrom in a management buyout.
Maillefer provides machinery used to manufacture wire, cable, tubes and pipes. It was suffering from the downturn in the telecoms industry at the time of the initial deal, the statement said.
Argos Soditic and Maillefer’s management team restructured the business model from a manufacturer to an out-sourced provider of services to the wire and cable industry.
Maillefer’s sales grew from CHF100 million ($91 million; €63 million) in 2001 to CHF270 million in 2007.
In March last year Argos Soditic made its first ever ten times return through the sale of Kermel, which provides aramid fibers used in heat and fire protective clothing.
Guy Semmens, the partner at Argos Soditic who led the transaction, said in a statement: “Despite difficult market conditions from 2001 to 2004, the management team at Maillefer stuck to the long-term strategy of moving to a flexible, out-sourced model which would create value once the markets recovered.”