Bring your vision to life.

Capital with vision

capiton enables small and medium-sized businesses in the DACH region to achieve ambitious goals. Not only do they receive capital from us, they also benefit from our expertise and personal support. We listen carefully, make quick decisions and are accessible, because we know that nothing generates confidence like your own vision in your own hands.



Cedes AG

The company

Cedes AG (“Cedes”), headquartered in Landquart, Switzerland, is a leading sensor technology company in the elevator and access solutions industry. The company’s products, which utilize infrared and image processing technology, provide solutions for the automation of elevators, escalators, and entrances. Cedes generated approximately CHF 55 million in sales in 2019 with 320 employees. The company was established in 1986.


Together with the management team, capiton plans to grow the business organically by leveraging the significant potential of the firm’s innovative new products and by acquiring companies in adjacent niche markets.

The transaction

capiton acquires Cedes from Assa Abloy (, a global leader in access solutions. Financing of the transaction is provided by capiton’s current investment vehicle, capiton VI, as well as Co-investors investing alongside capiton VI. Additional funds have been reserved to finance both organic and inorganic growth initiatives in Switzerland and abroad.


The transaction remains subject to approval from competition authorities. Sellers and buyers have agreed not to disclose the financial terms of the transaction.


capiton was advised by Androschin&Partner (Commercial), KPMG (Financial), EY (Tax), BMH (Legal), Intargia (Carve-Out), Kessler (Insurance), AvS (Management Audit), Tauw (ESG & EDD) and Rautenberg Moritz & Co. (M&A).

Facts & Figures


capiton’s predecessor company was founded in the mid-1980s. capiton AG was established in 1999. The firm became an independent company in 2004, following a Management-Buy-Out.


capiton is managed by 9 partners and is an owner-managed financial investor.

Track record

The capiton team has supported more than 80 companies, and over 70 investments have been realised. At present, the company manages a fund volume of €1.1 billion.

Investment range

capiton invests in small and medium-sized companies in German-speaking countries. We usually invest between €20 and €60 million of our own funds in profitable companies with turnover between €50 and €300 million. We are also able to execute much larger transactions together with co-investors.

What our portfolio companies say

capiton is familiar with the needs of SMEs, understands them, and acts accordingly.

Josef Raith, Founder