Deutsche Beteiligungs (DBAG) has sold its stake in Germay-headquartered ProXES Group to Swiss private equity firm Capvis Equity Partners.
The purchase price has not been disclosed but DBAG said that the divestment will result in proceeds of approximately €9m.
ProXES is a provider of machines and production lines primarily for the food industry.
The group’s products are used to make and process liquid and semi-liquid food, cosmetics and pharmaceutical products in a variety of processes.
DBAG and DBAG Fund V invested in the nucleus of the group, Stephan Machinery, four years ago in a management buyout.
After that, the company bolted-on three business, creating the ProXES Group.
ProXES has forecast revenues of approximately €141m for this year, more than triple the sales Stephan Machinery had in 2013.
ProXES is the fourth divestment made from the DBAG Fund V in the past three months.