Capvis becomes majority owner of Thermamax
Swiss private equity firm Capvis has become the majority owner of Germany-headquartered high-temperature insulation system specialist Thermamax.
Capvis take the lead from previous majority owners, Jochen and Klaus Darmstädter. CEO of Thermamax, Ralf Großhauser, will continue to lead the company together with the existing management team.
He said: “Thermamax has successfully established itself as leading OEM and Tier-1 partner in the automotive industry. With a strong financial partner like Capvis, Thermamax can seize further growth opportunities in its existing market segments, broaden the scope of its offering and target new expansion areas.”
Thermamax’s high-temperature insulation systems range from insulation fabrics and integral insulation solutions to complex insulation claddings.
Apart from the original production site Thermamax Hochtemperaturdämmungen GmbH, which was founded in Mannheim in 1976 and Thermamax, Inc. located in Aurora/llionois (USA), the Group has further sites in Frankenthal (Germany), Taicang (China) and Železnička (Serbia).
Eric Trüeb, partner at Capvis, which has a current fund volume of €720m, commented: “We aim to further strengthen the Company’s position together with the existing management team and the highly-qualified workforce, as the importance of high-temperature insulation and acoustic protection is rising globally due to manifold efficiency, security and safety as well as environmental reasons.
Financial details of the deal were not disclosed.
Brockhaus Private Equity III Fund will remain a minority shareholder in Thermamax.
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