New partner for Andra Tech Group: Equistone Funds sell Dutch portfolio company to Castik Capital
March 2021 marked the start of the partnership between the Equistone Funds and the Netherland-based Andra Tech Group. In the three years since, with Equistone’s support, Andra Tech Group has succeeded in positioning itself as a leading manufacturer of high-tech precision components and submodules in the Netherlands and Germany. Following a successful three-year partnership, the Equistone Funds are now selling their majority stake in Andra Tech Group to funds managed by Castik Capital S.à r.l. ("Castik") whilst reinvesting a minority stake in the business.
A top international player
Consisting of nine operating companies across the Netherlands and Germany and a total of 11 modern, fully invested production facilities, the Andra Tech Group (formerly Kusters Beheer) produces parts for prototypes, small to medium-sized batches and occasionally larger series. The over 700 technical professionals employed by Andra Tech Group serve global customers in various industries, including semiconductor, packaging, food, mobility, medical, and aerospace. With the support of Equistone, Andra Tech Group is now positioned as one of the leading players in the manufacturing of high-tech precision components and sub-modules in its core markets.
Ambitious growth trajectory through targeted buy-and-build
During the partnership with Equistone, Andra Tech Group was able to realise a total of four acquisitions – all of which marked strategically important milestones in driving forward the Group’s ambitious growth trajectory. With the acquisition of precision-metalworking specialist Meyer Feintechnik in late 2022, the Group succeeded in entering the highly attractive German market. Shortly thereafter, Andra Tech Group acquired metalworking specialists DKH Metaalbewerking and Lemmens Metaalbewerking. With these two important add-ons, the Group further expanded both its product portfolio and its technological expertise, as well as strengthened its already leading position in its home market the Netherlands. A third notable acquisition in the Netherlands was that of long-standing partner company Lucassen Groep in March 2024, with which Andra Tech Group once again expanded its expertise in the field of high-precision manufacturing.
Successful exit and reinvestment
The sale of the majority stake in Andra Tech Group to Castik by the Equistone Funds concludes a highly successful partnership, after a holding period of three years and six months. Given the long-term positive prospects of the Dutch precision manufacturing specialist, both organically and through further buy-and-build in existing as well as new markets, Equistone’s Reinvestment Fund – launched in 2021 - is reinvesting in a minority stake in Andra Tech Group. Also the Andra Tech Group management was highly supportive of a reinvestment by Equistone to enhance continuity and continue the successful collaboration of the past years.
It has been a great pleasure for the Equistone Funds to support the Andra Tech Group on its journey over the past three years. The reinvestment in the group shows how much Equistone believes in the business, its strategy and its vision for growth.
Under the new majority owner Castik Capital, Andra Tech Group intends to continue the growth trajectory initiated with Equistone by further expanding its technological expertise, customer base and international presence.