Transaction Details

August 15, 2019
Zurich

Sector

Industrials and Industrial Technology

Deal Type

M&A

Deal Value

N/D

Deal Team

Alexander M. Grünwald, Daniel T. Fritz, Bernhard Trösch, Guido Viggiani

GCA Altium advises Cross Equity on the divestiture of Swiss Tools to RBC Bearings subsidiary

GCA Altium acted as exclusive financial advisor to Swiss private equity firm Cross and the management of Swiss Tools on the sale of a majority stake in the Swiss Tools Group to Schaublin SA, a subsidiary of NASDAQ-listed RBC Bearings Inc.

Swiss Tools was founded in Thurgau, Switzerland, in 1973 and has an independent sales office in China. Cross, which acquired the company in 2016, has grown Swiss Tools into a global provider of high-precision modular toolholder systems for end markets including the mechanical engineering, aerospace and energy sectors as part of a succession solution for the company. The transformation into a successful internationally oriented Swiss firm was made possible by the enhancement of professional excellence within the organisation and a clear strategic focus on profitable international growth with a particular emphasis on opening up further core markets such as the USA, China, Japan and Mexico.

Schaublin SA is a Swiss subsidiary of RBC Bearings Incorporated, a listed company (NASDAQ: ROLL) and global provider of high-precision and high-specification ball bearing, roller bearing and plain bearing solutions for various industrial markets as well as the aerospace and defence industries. The company is based in Oxford, CT, in the USA and generated revenues of over USD 700 million in the 2019 fiscal year.

Markus Reich, Managing Partner of Cross Equity Partners AG, said: "We are delighted that through partnership with the Swiss Tools management team and executive board we have transformed Swiss Tools into a showcase company for the industry and for the Swiss SME sector in just a few short years. Our strategy of rigorous focus on growth and sustained development of a digital product portfolio ready for Industry 4.0 was received very positively in the market and took the company to the next level."

Dr Michael Petersen, Managing Partner of Cross Equity Partners AG, added: "Above all, effective succession solutions require mutual trust and shared objectives. Our collaboration with Swiss Tools is a shining example of how a succession solution can bring a company long-term success as well as serving the interests of all parties."

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