Bain Capital €600 million acquisition of Wittur

Overview:

• US private equity firm, Bain Capital, acquired German elevator parts manufacturer, Wittur, for €600 million from its financial sponsors Capvis and Triton. 
• Triton was the majority shareholder in the business.  
• Bain financed the deal by borrowing €260 million in senior term and revolving credit facilities and issuing a €225 million senior subordinated bond.
• Wittur's two financial sponsors put the business up for sale in August 2014, enlisting Deutshce Bank to assist with the transaction. 
• Capvis and Triton acquired Wittur from Cerberus, Credit Suisse, and Goldman Sachs in 2010 for an undisclosed amount.

Ben Naylor - Regional Editor