Evoco AG – a leading European private equity investor focused on primary portfolio transactions – has sold its majority holding in Plumettaz S.A. after a very successful six-year journey transforming the business.
Plumettaz engineers, manufacturers, and sells high-tech cable-laying solutions across the globe with a focus on digitally enhanced machinery for the telecom and energy industries. Evoco has led and accelerated the transformation of the company since 2015 and supported the management team along various initiatives. During Evoco’s ownership the company grew its revenues by >50% and was able to re-invest heavily into the future of the business. Plumettaz also extended its international footprint with a subsidiary in the USA and add-on acquisitions in the Netherlands.
Investments into new product development, digitalisation, and environmentally-friendly solutions were accelerated, all with the goal of shaping and maintaining Plumettaz’ position as the leader in cable laying applications in over 100 countries enhancing the backbones of their respective telecom and energy networks. Philippe Prat, CEO of Plumettaz says: “Together with Evoco, the Plumettaz team has strengthened the PLUMETT brand around the world as the preeminent provider of high-quality cable-laying solutions.”
The Evoco team is now happy to pass the baton to Invision to continue Plumettaz’ success story in an attractive market supported by strong macro-trends in connectivity and infrastructure investments. The investment was very successful for Evoco, whose funds have realised a significant multiple on invested capital.
Michel Galeazzi, Founder/Partner at Evoco: “Plumettaz’ employees are rightfully proud of developing the best solutions possible to enable modern communication networks across the globe.”
Felix Ackermann, Founder/Partner at Evoco: “The company’s development has been immense thanks to its innovative power. We are proud to have been serving and contributing to what Plumettaz is today: an innovative market-leading provider of high-tech cable laying solutions.”
Lorenzo Gregory Sormani, Director at Evoco: “While keeping true to Plumettaz’ almost centenary DNA, we have had a tremendous journey setting the foundations for Plumettaz’ next steps of growth.”
Evoco is a private equity house focused on lower-mid market majority investments in Germany, Switzerland, and surrounding countries. The team is focussing on acquiring strong brands and businesses from vendors that are interested in selling several investments in one single transaction. Since 2012, Evoco has invested in 24 companies, made 5 add-on transactions, and exited 13 businesses. The current portfolio includes reBuy (recommerce of consumer electronics, EUR 180m turnover), Frank Gruppe (a European leader for wear parts in the agricultural industry, EUR 35m turnover), and Picanova (global player for customised home décor, EUR 200m turnover). The team of 9 investment professionals operates out of Zurich, has raised over EUR 250 million since inception and is currently investing out of its third institutional fund.