goetzpartners advised Equistone on the acquisition of a majority stake in RENA with a Commercial Due Diligence
goetzpartners' Private Equity consulting team supported funds advised by Equistone Partners Europe (“Equistone”), one of Europe’s leading mid-market private equity firms, on its acquisition of a majority stake in the RENA group (“RENA” or “the Company”) with a Commercial Due Diligence.
The Commercial Due Diligence includes a detailed assessment of RENA’s business with a particular focus on the Company’s technological competencies in its various end-markets and the sustainability of its business model and value chain. goetzpartners has built a comprehensive bottom-up market model for each of RENA’s addressed technologies, end-markets for wet chemical surface treatment by region to evaluate future growth potential for RENA while considering underlying market trends. A thorough assessment of the management’s business plan has been conducted considering findings of the market model and a detailed benchmarking of key competitors.
Founded in 1993, RENA is one of the leading manufacturers of wet chemical surface treatment technology and machinery and employs around 800 people worldwide. As a global player, RENA provides high-tech solutions to clients in the semiconductor, medtech, green energy, and glass & sapphire sectors. The company has a strong international presence, with three production and R&D facilities in Germany and Poland, as well as sales and service locations across both Asia, including China and Singapore, and North America. RENA generates an annual output of over €120 million.
Equistone is an independent investment firm, which operates across France, Germany, Switzerland and the UK, investing as a strategic partner alongside management teams. With more than 150 transactions since 2002, Equistone is one of the leading and most active European capital investors.
Dr. Sigurd Kitzer
Dr. Norbert Danneberg