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Allianz Capital Partners to sell BARTEC to Capvis06/08/2008. Source: AltAssets. 
 Munich-based Allianz Capital Partners, part of Allianz Group, has agreed to sell a majority stake in German industrial safety technology company BARTEC to Swiss private equity firm Capvis. The size of the deal was not disclosed. Sources familiar with the deal said that the transaction was worth around €300m. Company founders and management will remain minority shareholders following the transaction.
BARTEC has production sites in Germany, Switzerland, Slovenia and China; sales units in 25 countries and more than 50 sales representatives worldwide. In the past financial year, the company achieved a turnover of more than €200m, according to a statement.
Allianz acquired BARTEC in 2002, again for an undisclosed sum.
BARTEC CEO Dr Ralf Köster said, 'We rely on investments in new products and services together with the further internationalisation of the Group.'
Capvis manages funds totalling approximately €1bn. In March of this year, the firm closed its Capvis Equity III fund on €600m.
Copyright © 2008 AltAssets
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