Headquarter: Switzerland

Investment Date: 2016

Exit Date: 2021

Business overview

Groupe Acrotec (“Acrotec”) is a Swiss precision manufacturing company that serves customers across three divisions in the luxury watch market, MedTech and several other high tech industrial end markets.

Among Acrotec’s customers are most of the major Swiss luxury watch brands. The company produces critical components for mechanical watches such as shock absorbers, spring barrels and oscillating weights.

Within its MedTech division, Acrotec produces high-quality and high-precision mechanical components such as e.g., implants, pumps and instruments for medical applications.

Within the industrial sector, Acrotec leverages its high-precision manufacturing capabilities to serve customers in attractively growing niche segments that require  sophisticated manufacturing such as aerospace, electronic connectors and niche automotive applications.

Swiss manufacturer of critical components for luxury watches

Growing MedTech capabilities and presence

Over 550 long-term customers

Deal description

Management and Castik pursued an active consolidation strategy to enhance Acrotec’s position as the largest, independent Swiss supplier to the luxury watch industry, MedTech industry and related segmentsCastik completed the acquisition of Acrotec jointly with several key managers of Acrotec under the leadership of CEO François Billig.

After 4.5 years with significant revenue and EBITDA growth, Castik has sold the company to Funds advised by Carlyle in 2021.

  • Revenue growth: +103%
  • EBITDA growth: +97%
  • Number of acquisitions: 12
Value creation

Acrotec more than doubled in size through a combination of organic and M&A growth

  • Organic growth: Increase in organic growth through built-up of commercial functions, broadening of the customer base and expansion of the manufacturing footprint by building new factories and R&D capabilities
  • M&A (consolidation): Further consolidation in the Swiss luxury watch components supplier market which added capabilities or customers that have previously not been covered
  • M&A (expansion): Expansion into MedTech by adding several high-quality businesses to the group which serve blue chip MedTech OEM customers