German yacht customizing company Sinnex Holding GmbH has been acquired by Afinum Management, a German private investment fund. The deal includes two Sinnex facilities located in Steinheim an der Murr, Germany and Griffen, Austria. Afinum apparently looked into acquiring a Sinnex competitor about five years ago but decided the timing wasn’t right.
Afinum plans a five-year horizon for the investment and insists the company’s current management team will remain intact.
Sinnex Holding (www.sinnex.com)
Sinnex is a Steinheim-based custom outfitter of luxury yachts, serving clients in Germany, Austria, the Netherlands, and Italy. The company prides itself on detailed workmanship and a single-contact model for coordinating projects and seeing them through to completion. The 115 Sinnex employees in Germany and Austria produced 2009 turnover of approximately €25 million.
Afinum Management (www.afinum.de)
Afinum Management is a private investment fund established by Thomas Bühler and Gernot Eisinger in 2000. The fund invests across a wide variety of industries, primarily in Austria, Germany, Switzerland, and other neighboring countries. A typical fund investment is a management succession or buy-in/buy-out opportunity in a stable market-leading company with sound capital. Afinum investors include banks, insurance companies, asset management firms, and private entrepreneurs.
30/04/2010
Automotive & Aerospace & Nautical, Germany, Investment, Private Equity News