Transaction Details

May 14, 2019
Zurich, Frankfurt

Sector

Technology, Industrials and Industrial Technology

Deal Type

M&A

Deal Value

N/D

Deal Team

Alexander M. Grünwald, Thomas Egli, Geoffrey Baldwin, Thorsten Weber, Mario Schlup, Daniel Schreiber, Adrian Nowitzki, Bernhard Trösch, Jannik Bold, Peter Latka

GCA Altium advised the shareholders of Xovis on the sale to Capvis

GCA Altium advised the shareholders of Xovis, the Swiss 3D sensor and analytics company, on the sale to Capvis, a Switzerland based private equity firm.

The funds advised by the Munich investment company EMERAM Capital Partners GmbH have agreed to sell their stake in Xovis AG to Capvis Equity V LP, a fund advised by the Swiss private equity firm Capvis AG. The parties have agreed not to disclose any financial details of the transaction.

Xovis is the worldwide market leader for the analysis of people flows and waiting times. EMERAM acquired a stake in the company in August 2016. In close cooperation with the founding team, Xovis became the leading provider in its business segments and markets. In the business segment "Airports", the number of customers has tripled within the last three years. Approximately 75 of the world's largest airports use Xovis' technology, including the airports in Atlanta, Dubai, Frankfurt, Paris, and Delhi. The "Stationary Retail" business segment has also developed very successfully, with three of the world's largest supermarket chains among Xovis' customers. In addition, the business segment "Public Transportation" has been established as a further growth area. As part of the strengthening of worldwide sales, an office in Boston has been opened in order to access the US market. In the course of the positive operational development of the company, the number of employees rose from 34 in June 2016 to almost 90 today. Moreover, investments in innovations increased and, in 2018, Xovis celebrated a world first with the introduction of the first sensor with AI characteristics.

David Studer, CEO of Xovis, commented: "Together with the EMERAM team, we have strategically and operationally developed Xovis over the past three years. We have further professionalized our financial aspects and consistently strengthened our sales and marketing activities. As a result, we have significantly increased our market penetration with an average growth rate of 40%. In the process, the EMERAM team supported us both as a financial partner and as a valuable sparring partner. We will continue our successful path with our new owner."

Volker Schmidt, founding partner of EMERAM Capital Partners, added: "We would like to thank the management team and all employees for their great cooperation and commitment. Today, Xovis is excellently positioned as a technology leader in a dynamically growing industry. It was our pleasure to support the company for parts of this journey. We are convinced that Xovis will continue its success story.”

The three founders and managing directors – Christian Studer, David Studer and Markus Herrli – will remain shareholders of Xovis and will continue to lead the company in the next growth phase.

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