Silver Investment Partners-owned PTF Holding has acquired fellow precision manufacturing company Heinz Kehl & Sohn as part of a bolt-on deal.
Silver first invested in the Stolberg-based PTF in March last year for an undisclosed sum. This new deal represents the beginning of the company's buy-and-build strategy.
Frankfurt-based Heinz Kehl & Sohn, which specialises in the manufacturing of turned and milled parts for hydraulic and pneumatic machinery, will continue to operate as an independent company as a member of the PTF Holding Group. Collectively the group is expecting a €5m (£4m) rise in sales to €15m by the end of the year.
Formed in 2009, PTF was the second investment for Silver, which in April acquired German bakery Elmi.