Maven makes profitable exit from Transys
Maven Capital Partners UK LLP (Maven) is pleased to announce the sale of its investment in Transys Projects Limited (Transys) to the German engineering concern Vossloh Kiepe, the rail transportation division of MDAX listed Vossloh AG.
Transys is engaged in the provision of turnkey and engineering consulting solutions relating to the maintenance and enhancement of rail rolling stock. Maven client funds supported the original management buyout of the company in April 2002, since when it has significantly increased both its range of products and the depth of its engineering expertise. Over the same period the company has invested in the development of key relationships with the owners and operators of rolling stock in the UK and overseas markets.
Vossloh Kiepe, based in Dusseldorf, specialises in providing control systems and electronic equipment for rail vehicles and industrial plant. The acquisition of Transys will allow the combined businesses to enter into new markets and bid for larger rail enhancement projects supported by the financial strength and technical expertise of the Vossloh group.
The size of the transaction has not been disclosed. Transys is the largest holding of Maven Income and Growth VCT PLC. Consequently, although the vendor is under strict confidentiality in respect of disclosing the transaction size, the materiality of the disposal means that the VCT is required under the listing rules to make a stock exchange announcement about the impact on its net asset value.
Maven was advised by the Birmingham corporate team of Gateley led by Simon Gill. Maven would also like to record its appreciation of the company's management team for their dedication and efforts in establishing Transys as a highly respected operator in the UK rail engineering market.