Funds managed by Equistone Partners Europe, a mid-market private equity investor, have agreed to sell a majority stake in Karl Eugen Fischer, a manufacturer of cord-cutting machines for the tire industry. Equistone acquired Karl Eugen Fischer in August 2013 and is now selling its stake to DBAG Fund VII, managed by Deutsche Beteiligungs. Management will retain a shareholding in the company.
Karl Eugen Fischer began developing cutting and pressing machines in 1949 and has produced cord-cutting machines for the tire industry since the mid-1970s. Tire manufacturers use Karl Eugen Fischer’s cutting machines predominantly to produce tire plies and breakers, components that give the tire shape and driving stability.
Dr Marc Arens, partner at Equistone, said, “Karl Eugen Fischer’s strong position in the cutting systems market has been key to its expansion. Since Equistone’s investment in 2013, the functionality of the machinery has improved and there has been a steady increase in its level of automation. The company has also successfully extended its servicing business and broadened its customer base with internationally renowned companies.
“With a growth strategy focused on sustainability and stability, Karl Eugen Fischer’s excellent reputation as a premium manufacturer of cutting systems has continued to grow. It represents the gold standard in this machinery segment. We are confident that Deutsche Beteiligungs is the right partner for Karl Eugen Fischer to ensure its continued success going forward.”
Rachel's career in journalism began around five years ago when she started working for UKi Media & Events, having recently graduated from Coventry University where she studied the subject. Her favourite aspect of the job is interviewing industry experts, including researchers, scientists, engineers and technicians, and learning more about the ground-breaking technologies and innovations that are shaping the future of the automotive and tire industries.
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