Capvis acquires majority interest in the Schurter Group
Lucerne/Baar - The owner family of Schurter AG has sold a majority stake in the company to the investor Capvis. The reason for this sale is the lack of a succession plan following the tragic death of Cyrill Schurter in an accident in May 2021. Neither the structural organization nor any jobs will be affected by the takeover.
Capvis, a Swiss investor that specializes in midcap investments headquartered in Baar in the canton of Zug, is acquiring a majority interest in Schurter Holding AG from Lucerne. The transaction will not have any impact on the organizational structure or jobs at the manufacturer of electrical components, further details of which can be found in a press release.
The founding family and current owner of the group, the Schurter family, will remain an important shareholder of the business group and will be represented on the Board of Directors by Thomas Schurter, the press release explains. As was previously the case, CEO Ralph Müller and his management team will retain responsibility for managing the company in future, while no changes are planned at the headquarters in Lucerne or for the Schurter brand.
The reason for the sale is the lack of a successor solution. Cyrill Schurter was supposed to take over the management of the Schurter Group in the medium to long term, but tragically died in an accident in May 2021. Given that all “other members of the fourth generation were already pursuing other career paths”, the owner family decided to sell a majority interest “in order to ensure the company’s continued success”, explains Thomas Schurter, Chairman of the Board of Directors, in the press release.
The parties agreed not to disclose any details regarding the financial conditions of the transaction. Subject to approval by the relevant authorities, the takeover is expected to be completed in the spring of this year.
The Schurter Group employs 2,200 staff across a total of 20 subsidiaries in 17 countries. The company manufactures components for safe power supply, input systems and sophisticated end-to-end solutions. In the 2022 financial year, it generated revenue of around 330 million Swiss francs.
