SFC KOENIG (formerly KVT-Koenig) is a leading global supplier of expanders and flow control technology. The company is headquartered in Dietikon, Switzerland and has subsidiaries in China, Germany and the US.
EQT Expansion Capital II supported the LBO of SFC KOENIG, formerly a unit of listed German steel and metal distributor, Klöckner & Co AG, by Capvis and Hg Capital through providing mezzanine capital and taking a minority shareholder position.
At the end of 2012, SFC KOENIG sold its fastening solutions division to Bossard AG, a Swiss strategic player in the fastening space. The net cash proceeds allowed a significant deleveraging of the company. The sale of the fastening division also allowed management to fully focus on the promising and more profitable expander segments, offering higher growth and increased EBITDA margins.
During the investment period, EQT supported the development of new products and the expansion into new geographies, particularly USA and China.
In 2016, EQT Expansion Capital II sold its minority share alongside majority owners Capvis and Hg Capital to Idex Corp., a listed US industrial conglomerate.
Key events during EQT's ownership
Establishment of new senior management including CEO, CFO and COO
Expansion of international sales force to capture both new clients as well as intensify coverage of existing customer base
Disposal of fastening division to allow to focus on more promising, and more profitable, expander segments, offering higher growth and an increased EBITDA-margin