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de Sede AG

Capvis to acquire de Sede

Zurich/Klingnau (ots)

Capvis, the Zurich-based private equity
firm, has agreed to acquire de Sede, a leading manufacturer of
premium quality upholstery and seating furniture from the two current
private entrepreneurs, Hans-Peter Fässler and Bernhard Schüler. The
transaction sets the course to strengthen the position of the
international top-brand and to preserve the future of de Sede, a
company steeped in tradition and located in the Swiss canton of
Aargau. The transaction forms part of the company's succession plan;
the two entrepreneurs and current owners will retain operational
responsibility and a minority shareholding in the company.
Capvis, the leading Swiss private equity firm, has agreed with the
current owners to acquire de Sede. de Sede is an internationally
leading manufacturer of premium quality upholstery and seating
furniture, based in Klingnau, in the Swiss canton of Aargau. The
private entrepreneurs and current owners, Hans-Peter Fässler and
Bernhard Schüler, will remain with the company and in charge of
business operations. They will also retain a continuing interest in
the company.
Swiss succession solution
With Capvis as de Sede's new strong financial partner, the company
will be able to offer continuity in its successful strategy based on
prestige products. Moreover, the transaction sets the course for the
company's mid- to long-term future and ensures the succession
solution for the current owners.
"It was of great importance to us to safeguard the future of our
long-standing and renowned Swiss company in a sustainable way. We
firmly believe that with Capvis we have found a Swiss investor who
shares our values and strategic objectives concerning the positioning
of the brand and the company," says de Sede's Hans-Peter Fässler as
to why Capvis was selected.
"As entrepreneurs and current owners of de Sede, we wanted to lay
the foundations for the long-term prosperity of our company. We also
wanted to present our highly trained and committed staff with new
opportunities for the future. We will remain actively involved in the
management and operations of the company and will retain a
significant minority share to underpin our commitment," adds Bernhard
Schüler.
Capvis boasts strong expertise in Europe's upholstery furniture
industry
Capvis has extensive experience in the furniture industry and
currently holds a majority stake in Germany's Machalke
Polsterwerkstätten. Located in Germany's Hochstadt, Machalke develops
and manufactures hand-made high-end upholstery furniture based on
leather and fabric for wholesale and retail furniture shops. de Sede
and Machalke are a perfect strategic fit, but will continue to
operate as independent companies on the market.
For Tobias Ursprung, partner of Capvis, the transaction perfectly
rounds off the private equity firm's current portfolio, "de Sede is
Switzerland's premier furniture brand and one of the most renowned
international upholstery furniture manufacturers. Thanks to its stake
in Germany's Machalke, Capvis can already rely on solid industry
knowledge and can put this expertise to work for the strategic
development and growth of both companies. As complementary brands, de
Sede and Machalke however will act independently in the market."
Signing the contract, the parties have agreed not to disclose the
transaction price. The planned take-over is subject to the consent of
the respective trade commissions' approvals.
Sal. Oppenheim Corporate Finance acted as exclusive financial
advisor to Hans-Peter Fässler and Bernhard Schüler.
About Capvis
Capvis is the leading private equity house in Switzerland and
among the top players in German-speaking Europe. Capvis invests in
market-leading midsize firms with headquarters in Switzerland,
Germany or Austria, typically as part of succession solutions or
corporate spin-offs. Total investment funds exceed CHF 800 million.
Since 1990, the Capvis team has completed 37 transactions with a
total volume exceeding CHF 3.5 billion. The current Capvis fund II
has majority holdings in Orior (CH), Lista (CH), Ticketcorner (CH),
Benninger (CH), WMF (DE) and ACP (A) amongst others, and a minority
holding in Stadler Rail (CH). Capvis' strategy aims to acquire
substantial ownership in attractive firms, to support management
teams in releasing new entrepreneurial potential, and to steer the
businesses to new levels of excellence. www.capvis.com
About de Sede
de Sede is one of the world's leading manufacturer of premium
quality leather upholstery and seating furniture. de Sede distributes
its products under the two brands "de Sede" and "FSM". The brand de
Sede stands for excellence in upholstered leather seating furniture
and the brand FSM is a trend-setter in the field of functional
leather seating furniture. de Sede, which was founded in 1965, is
based in Klingnau, in the Swiss canton of Aargau and employs 220
people worldwide. www.desede.com
To the attention of editing staff:
Picture material on de Sede is available at
www.desede.com/desede/html/GetHTML?page=popup_download.jsp&lang=de

Contact:

Further information
Capvis: Tobias Ursprung
Talacker 42, Postfach
CH-8023 Zürich;
phone: +41/43/300'58'58
E-Mail: tobias.ursprung@capvis.com

de Sede: Hans-Peter Fässler
Oberes Zelgli 2
CH-5313 Klingnau
phone: +41/56/268'01'11

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