MUNICH--(BUSINESS WIRE)--The EQT Mid Market Europe Fund (“EQT Mid Market”) today announced that it is partnering with co-founders Josef Wildgruber and Uwe Behr to invest in BBS Automation GmbH (“BBS Automation” or “the Company”) to support the further expansion of the business.
BBS Automation is a leading provider of flexible and high-quality automation solutions for complex manufacturing and testing processes. The Company develops, builds and installs high-quality automated systems for a wide range of industries and requirements. With more than 600 employees across production sites in Germany, China, Malaysia and the US, BBS Automation partners with blue chip customers on a global scale.
EQT Mid Market intends to leverage its long-term experience in the Industrial Technology space to assist BBS Automation’s growth ambitions both organically and through add-on acquisitions in new end markets. Furthermore, EQT’s global network, in particular the presence in China and the Americas, will support the Company in further expanding its geographical foot-print to reach blue chip customers on a global scale.
Josef Wildgruber, CEO of BBS Automation, comments: “Our customers increasingly request us to partner with them on a global scale. We are therefore looking to expand our international delivery capabilities without compromising on the entrepreneurial mindset and flexibility that customers value in BBS Automation today. We view EQT Mid Market as a very strong partner for these growth ambitions, as they not only provide the required capital for our expansion, but also a network of highly relevant Industrial Advisers as valuable sparring partners for building the presence in our growth markets as well as a governance concept that allows us to further build on our strengths.“
Andreas Fischer, Partner at EQT Partners and Investment Advisor to EQT Mid Market, adds: ”EQT Mid Market is seeking to partner with inspiring founders and strong management teams who have a clear vision for their business. We are deeply impressed by the entrepreneurial spirit with which Josef Wildgruber, Uwe Behr and their team have built a true German Mittelstands-Champion over the last years. Very rarely do we find businesses of this size that operate as a truly global platform like BBS Automation. EQT Mid Market is delighted to partner with the co-founders of BBS Automation and their team to further develop this key enabler of Industry 4.0 production systems.“
The transaction is subject to customary regulatory approval. The parties have agreed not to disclose financial details of the transaction.
EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
About BBS Automation
BBS Automation is a leading provider of flexible and high-quality automation solutions for complex manufacturing and testing processes. With close to 550 employees across production sites in Germany, China, Malaysia and the US, BBS Automation partners with blue chip customers on a global scale.
More info: www.bbsautomation.com