New owner for leading group of high-tech precision parts manufacturers: Equistone portfolio company Andra Tech Group and Castik Capital enter into partnership

Funds managed by Castik Capital S.à r.l. (“Castik”) have entered into an agreement to acquire a majority stake in Andra Tech Group from funds advised by Equistone Partners Europe (“Equistone”), Mountainview Capital Partners and management. Management will remain minority shareholders in the business and the Equistone Funds may reinvest as well. CEO Geert Ketelaars will continue to lead Andra Tech Group together with his executive management team, Adwin Kannekens, Eric Urff and Gerben Heideman.

Established in 1973, Andra Tech Group (formerly Kusters Beheer) has developed into a leading group of manufacturers of high-tech precision components and sub-modules. The Group consists of nine operating companies in the Netherlands and Germany with a total of eleven modern and well-invested production sites focusing on the production of high-quality precision mechanical parts and modules. The over seven hundred technical professionals employed by Andra Tech Group serve global customers in various industries, including semiconductor, packaging, food, mobility, medical and aerospace. Andra Tech Group produces parts for prototypes, small to medium-sized batches and large series.

Andra Tech Group plans to continue pursuing an ambitious growth strategy focused on establishing itself as a leading international manufacturer of high-tech precision components and sub-modules. The group plans to invest in its home market of the Netherlands while continuing to grow into new geographies as well as expanding its technological competencies in the field of high-precision manufacturing, both organically and through further strategic acquisitions.

"In Castik, we have found our partner of choice who will support us as we further expand our capacities and capabilities and grow both organically and acquisitively. The experience of the partners and the trust shown in our culture and company DNA convinced us of Castik, and we are looking forward to a close cooperation in the coming years. Equistone staying invested as a minority shareholder shows their continued confidence in Andra Tech Group and our strategy,” says Geert Ketelaars, CEO of Andra Tech Group.

“We would like to thank Andra Tech Group’s management team for the trust they have placed in us, and we are very much looking forward to developing the company together. Andra Tech Group operates in an attractive market that is characterised by a continuously increasing demand for high-tech components and rapid technological advancements. Our goal is to support Geert and the management team in the next phase of growth as the company further expands its customer base and technological competencies,” says Michael Phillips, Partner at Castik Capital.

“It has been a pleasure to support the Andra Tech Group team over the last three years. During the partnership Andra Tech Group acquired four companies, consolidating its position in the Netherlands and entering the German market, making the Group well-placed to extend its strong record of accelerated growth in recent years. We look forward to collaborating with the team and Castik on the next phase of Andra Tech Group’s journey,” adds Hubert van Wolfswinkel, Partner in Equistone's Amsterdam office.

Andra Tech Group and Equistone were advised on the transaction by William Blair (M&A), BCG (Commercial), PwC (Financial & Tax), A&O Shearman(Legal), and Tauw (ESG). Castik Capital S.à r.l. was advised by Lincoln International (M&A and Financing), Roland Berger (Commercial and Operational), PwC (Financial, Tax, ESG), Skadden, Arps, Slate, Meagher & Flom (Legal), Houthoff (Legal) and White and Case (Financing legal)