In August 1998, CVC Funds completed the acquisition of the Rhiag, a distributor of replacement automotive components to after-market wholesalers in Switzerland, Italy, the Czech Republic, Slovakia and Ukraine.
Rhiag was founded in 1962 and is headquartered today in Baar, Switzerland. Today, around 80% of group sales and earnings are generated in Italy. In October 1999, the company acquired the components manufacturer Bertolotti Pietro & Figli from the US Federal Mogul group. Bertolotti was an Italian competitor of Rhiag operating in the same sector. The group currently employs around a total of 1,400 staff.
The sale of Rhiag to French mid-cap fund Alpha Associates was completed in July 2007. Rhiag operates today as part of Rhiag Group Ltd., the holding company.