Cowen advised Mesa Parts, a manufacturer of turned parts and sub-assemblies, on its sale to Austrian private equity firm Andlinger & Company (“Andlinger”). The management of the Lenzkirch-based company has taken a reverse stake and will continue to run the business.
Managing Director Julian Meyer is the fourth generation already to lead Mesa Parts. The family-owned company is one of Europe’s leading manufacturers of ultra-high precision-turned parts and valves. With the new partner Andlinger, the Meyer family has set the long-term direction for their company to take advantage of growth opportunities in a rapidly changing supplier market. Mesa Parts, with locations in Germany, the Czech Republic and Mexico, offers the best conditions for this: It enjoys an excellent reputation for the manufacture of sophisticated components in applications for the automotive and medtech industries. To this end, the company has also established its own product development capabilities in hydrogen technology in recent years.
With Andlinger and its many years of expertise, especially in the industrial sector, Mesa Parts has found the perfect partner for its growth strategy. Expanding into additional product categories in the automotive and other industries and further internationalization of the company offer a wide range of development opportunities.
With the sale of Mesa Parts, Cowen has already accompanied the 16th transaction in the industrial sector this year and successfully completed it for its client.
Julian Meyer: “With Cowen, we had a partner who had an excellent understanding of our competencies and our business model and who conducted a very targeted approach to potential investors. The whole process was very professionally managed and supported by an excellent team. As there will not be a fifth generation to lead the company in the future, we are glad to have found an investor and partner in Andlinger who sees the opportunities in the current challenging market environment and with whom we want to set the course for the long-term success of the company.”
Gerd Altmutter, Partner at Andlinger, adds: “We are proud that the Meyer family has decided to bring Andlinger & Company on board as majority owner and partner in the 125th year of Mesa Parts’ existence. We are convinced of the competencies of Mesa Parts as one of the best precision parts producers in the world, which has been confirmed by independent experts. Together, we will ensure that the opportunities created by the upheaval in many areas of the global economy are seized and that Mesa Parts can add further chapters of success to its proud history.
Mesa Parts with locations in Lenzkirch (D), Nachod (CZ) and Lerma (MX) develops and produces ultra-precision turned parts and valves for the automotive industry and other sectors. As a specialist for demanding manufacturing processes in terms of geometry and tolerances, the company is an important and reliable development partner for its customers. Mesa Parts offers a broad manufacturing portfolio including turning, grinding, fine machining, laser cutting, laser welding, and assembly with integrated functional testing.
With inhouse engineered equipment and machines, the manufacturer of turned parts and assemblies positions itself at the forefront of international competition. In addition, Mesa Parts has built up development expertise for valves specifically in the area of flammable gases under high pressure. Together with its capabilities in manufacturing, assembly and testing technology, the company has succeeded in developing a complex electromagnetic valve system for hydrogen applications and has positioned itself in the market as a development and manufacturing partner far beyond its original core competencies.
The fourth-generation family business looks back on a 125-year company history and today employs more than 760 people.
Andlinger & Company, established in 1976 by Gerhard Andlinger, is a group of private individuals investing in businesses with growth potential. The partners have held executive positions in various industries. Together with the management of the portfolio companies, they contribute to adding value for the acquired businesses. Andlinger & Company has offices in the United States, Austria, and Belgium.