CGS Said to Mull Sale of Injection Moulds Maker Schoettli
Swiss buyout company CGS Management is considering a sale of its majority stake in Schoettli, five years after it started investing in the injection moulds maker, according to three people familiar with the matter.
The company hired advisers to help with a potential sale and is marketing Schoettli to industrial and financial buyers, the people said, asking not to be identified as the talks are private. A sale may value Schoettli at as much as 200 million francs ($220 million), they said. CGS declined to comment.
Established in 1952 and based in Diessenhofen, Switzerland, Schoettli makes injection moulds which are used in the production of syringes, plastic bottle caps and food packaging. Pfaeffikon-based private-equity firm CGS, founded by Rolf Lanz, Peter Gloor and Peter Giesinger, started investing in Schoettli in 2008.
Schoettli has 320 employees across America, China and Switzerland after the acquisitions of Magor Mold Inc., based in San Dimas, California, and China’s s-mouldtech, according to the company’s website.
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