Brockhaus Private Equity has bought a majority stake in German data management software company Auvesy.
The company, which was founded in 2007, offers data management solutions for automated manufacturers with clients including Volkswagen, Daimler, Siemens, Coca-Cola and Merck. Auvesy has implemented over 1000 projects in more than 40 countries and employs upwards of 65 staff.
The firm’s founder, Werner Schnaebele, is to resign from his post as managing director after giving up his majority stake but will continue on as an advisor with a minority stake in the firm. Management team member Tim Weckerle, who joined the firm in 2011, will take over as CEO and will also acquire a ‘significant stake’ in the firm, according to a release from Brockhaus. Fellow shareholder Thomas Hoerauf will also hold a minority stake.
Weckerle said the new shareholder structure and succession arrangement “puts Auvesy firmly on track to continue sustainably its ten-year success story in the future”.
The purchase is the latest made from the private equity house’s Brockhaus Private Equity III which closed in 2014.
Investment firm Idinvest Partners arranged and underwrote the unitranche financing for the acquisition.