Industrials

The Industrials sector is one of the world's largest and includes many activities, applications and end-markets. Cinven covers a broad range of Industrials sub-sectors:

  • building materials and construction, from the light to the heavy end of the building materials product range;
  • energy and natural resources, including metal and mining, oil and gas, utilities and renewables, and chemicals; and
  • engineering and manufacturing, including industrial machinery, power and infrastructure equipment, and supply to the transport, aerospace and defence end-markets.

Our sub-sector coverage reflects the end-markets served by individual companies. These markets follow different industrial cycles, and we believe it is necessary to understand their dynamics and trends in order to pick winning businesses. We usually invest in industrial businesses that display the following characteristics:

  • defensive market leadership, high barriers to entry and strong as well as relevant technologies, all giving ground to proven pricing power;
  • a supply chain structure that supports long-term, partnership-like relationships;
  • exposure to dynamic end-markets, with opportunities to promote superior organic growth and/or sector consolidation; and
  • a profitable and sustainable growth profile with an appropriate return on capital.

Most industrial companies are facing significant changes within their markets due to current macroeconomic conditions. When evaluating potential transactions, we take a highly selective approach and focus mainly on businesses with strong recovery potential.

We have been active in the Industrials sector for more than 25 years and have undertaken over 100 transactions in this sector. Our sector team has built up extensive knowledge and experience and we have established a global network of company executives and industry participants in the sub-sectors we cover. This helps us work proactively to originate transactions and develop early insights into potential acquisitions.

Selected investments

Name Activity Country
Ahlsell Building materials distribution Nordic region
Avio Design and production of propulsion systems for space launchers and satellites Italy, Global
Foseco Industrial consumables UK
CeramTec Manufacturer of high performance ceramics Germany, Global
Tractel Manufacturer of working-at-height products Luxembourg, Global
Smurfit Kappa Packaging Netherlands
Frans Bonhomme I Plastic pipe distribution France
Frans Bonhomme Plastic pipe distributor France, Spain
Klöckner Pentaplast Plastics films manufacturer Germany
SLV Provider of residential and technical lighting products Germany, Global
CHRYSO Specialty chemicals France, Global
JOST Truck component manufacturer Germany, Global
Industrials
Bruno Schick
Bruno is Head of the Frankfurt office, a member of the Industrials sector team and the regional team for Germany and Central Europe. He has been involved in numerous transactions, including CBR, CeramTec, JOST, Maxeda, SLV, STADA and Viridium Group.
Xavier Geismar
Xavier is a member of the Consumer and Industrials sector teams and the regional team for France. He has worked on a number of transactions, including Amadeus, Camaieu, CHRYSO, Numericable Group and Tractel.
Caspar Berendsen
Caspar leads the Financial Services sector team and the Industrials sector team. He has worked on a number of transactions, including Avolon, ERGO Italia, Guardian Financial Services, Maxeda, NewDay, Partnership, PCL, Viridium Group and Ziggo.
Pontus Pettersson
Pontus leads the Nordic regional team and is a member of the Industrials sector team. He has been involved in a number of transactions, including CeramTec, Prezioso and Tractel.
Eugenio Preve
Eugenio is a member of the Industrials sector team and the regional team for Italy. He has worked on a number of investments, including Amadeus, Avio, ERGO Italia and Medpace.
Julien Lammoglia
Julien is a member of the Industrials sector team and the regional team for France. He has worked on a number of transactions, including CeramTec, CHRYSO, Sebia and Tractel.
Anthony Cardona
Anthony is a member of the Industrials sector team. He has been involved in a number of investments, including CPA Global, Visma and Ziggo.
Jan-Nicolas Garbe
Jan-Nicolas is a member of the Healthcare and Industrials sector teams and the regional team for Germany and Central Europe. He has most recently worked on the AMCo, CeramTec, SLV, STADA and Synlab transactions.
Massimiliano Mascolo
Massimiliano is a member of the Industrials sector team and the regional team for Italy. He has been involved in a number of transactions, including Avio. Prior to joining Cinven, Massimiliano worked at J.P. Morgan as a member of the EMEA Diversified Industries coverage team in London. Massimiliano advised on M&A and IPO transactions.
Rui-Yang Ang
Rui-Yang is a member of the Industrials sector team. Prior to joining Cinven, Rui-Yang worked at Goldman Sachs in London within the Private Equity Group.