Cognetas, a European mid-market investment firm, has bought German metal moulding company Gebruder Gienanth-Eisenberg from family holding company Fink for an undisclosed sum.
Gienanth was founded in 1735 and is a producer of engine blocks for medium to large diesel and gas engines as well as of clutch and transmission systems in the automotive industry.
It also sells products used in various sectors including power generation, mining and the oil and gas industry. The company had revenues of approximately €150 million ($220.7 million) in 2007.
Andreas Kraemer, a principal at Cognetas, said: “The company has been on a growth path during the last couple of years under the current management and we want to support them in that.” This would involve developing the company’s existing sites and helping it grow internationally, he said.
Last month Cognetas bought Italian food and beverage vending machine operator Gruppo Argenta and sold outsourcing company Global Solutions for £355 million ($696.7 million; €473.6 million). A source close to the Gruppo Argenta acquisition said Cognetas paid around €700 million.
Cognetas has bought other companies in the automotive sector, acquiring metal supplier KSM Casting – formerly ThyssenKrupp Fahrzeugguss – in 2004, and hydraulic and vacuum pump supplier ixetic in 2005, both for undisclosed sums.
Cognetas was advised by European bank Société Générale.
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