Frankfurt (Germany), 6 October 2020 – Rebecca BidCo AG, a subsidiary held by the "Triton V" fund advised by Triton ("Triton"), has today completed the acquisition of a majority stake in Renk Aktiengesellschaft (“RENK AG”).
In addition to the 76 percent stake in RENK AG held by Volkswagen Vermögensverwaltungs-GmbH, a subsidiary of Volkswagen AG, 14.2% of shares were acquired through a voluntary public takeover offer. The offer to acquire shares against payment of a cash consideration was made to all remaining shareholders of RENK AG and the offer price was determined in accordance with the German takeover law and published in the offer document.
Triton and RENK AG are pleased to enter the next phase of their partnership and to finally join forces to continue realizing RENK AG’s growth strategies.
About RENK AG
Headquartered in Augsburg, Germany, RENK AG is a globally leading global manufacturer of high-quality automatic transmissions, gear units, slide bearings, suspension systems, couplings and test systems. It serves a diverse range of end-markets with a particular focus on armored vehicles, defense and civil marine, energy production, plastics, oil & gas and others. With over 2,600 employees, RENK AG generated EUR 559 million of revenues in 2019.
About Triton Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton Partners has over 150 investment professionals and value creation experts across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.