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.
capiton acquires Cedes from Assa Abloy (www.assaabloy.com), 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).