Essen, 18 April 2013. Funds advised by CVC Capital Partners are acquiring a majority stake in ista. CVC signed an agreement yesterday with the existing majority owner, Charterhouse Capital Partners. CVC has held a stake in ista since 2003 and now extends its minority stake held since 2007 into a majority. ista's management will retain an interest in the company. The closing of the transaction is expected to take place by mid-year.
Marc Strobel, Partner at CVC, said: "We have been successfully invested in ista for the last ten years and look forward to maintaining our relationship with the company as it continues to implement its growth strategy in the years ahead. ista does not only have an excellent position with outstanding growth prospects in the field of energy efficiency but also has a very experienced management team and highly dedicated employees."
Walter Schmidt, CEO of ista, said: "In CVC, we have the ideal partner for continuing ista's success story into the future. CVC knows our company extremely well, and as a shareholder in ista has stood for continuity for about ten years. Over the past six years we have - together with Charterhouse and CVC - impressively succeeded in making ista the global market and innovation leader while at the same time setting the course for the future. We will now continue on this growth path with CVC as majority owner."
ista is a global market leader for energy management services to increase the energy efficiency of buildings. As key partner for reducing CO2 in the building sector, ista is making a crucial contribution to lowering energy consumption.