The firm also said that the investment produced an impressive IRR of 70 per cent.
The company produces and markets buffers and couplers for goods and passenger rolling stock.
Its customers include Swiss Federal Railways, Deutsche Bahn, Australia’s ÖBB and the National Railway Company of Belgium.
Since the acquisition by Cross in January 2009, Schwab has achieved a significant increase in turnover – which reached €98m last year – and profitability, the firm said in a statement.
Cross Equity Partners managing partners Michael Petersen said, “As a leading pan-European business, Schwab’s logical next step is to take its successful products into new and emerging markets in the global arena, such as China, Brazil, India and Russia, with Faiveley as a strong partner.”
Copyright © 2013 AltAssets