Partners Group said it anticipated a 25 per cent IRR on its investment in AHT, which it made alongside Quadriga in January 2007.
AHT has increased its annual revenues by more than 50 per cent in that time to over €300m, and almost doubled its employees from 650 to more than 1,100.
Walter Keller, Partners Group partner and chairman of its private equity directs investment committee, said, “In our initial investment thesis AHT represented an attractive acquisition due to its leading products and strong positioning with customers in a growth segment.
“We are very pleased that, throughout the duration of our investment in AHT Cooling, we have been successful in supporting the continued internationalization of the business by expanding into China, Brazil and other emerging markets and established, for example, a new production facility in Changzhou, China.
“Furthermore, we were able to successfully leverage our global platform and network to introduce both new suppliers as well as new clients on a global scale.”
Marc Zügel, who is jointly responsible for Bridgepoint’s investment activities in Germany, Austria and Switzerland, said: “AHT is at an attractive point in its development given the already solid continued growth of its core product offering.
“It is poised for further expansion with its new, world leading plug-in wall technology that will target a significantly larger international market.
“Bridgepoint will work with AHT’s management, backed by continued innovation, to build on an already strong installed base and to accelerate its growth internationally.”
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