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Swiss investment firm Jadeberg Partners is planning to exit all investments from its latest and last fund, Mountain Cleantech Fund II, within the next three years, Managing Partner Juergen Habichler said.
Jadeberg is in talks to sell one of the eight remaining investments in the next two months, and is prepping two to three portfolio companies now as it heads towards realising the fund “no later” than 2021, he said, declining to provide more details on the upcoming asset sales.
The firm is handling transactions in-house, he said.
The fund successfully sold energy-saving lighting specialist Grünspar in 2015 to utility company EWE, generating a 2.3x return, Habichler said. Grünspar is the first exit from the fund.
It acquired Geppert, an Austrian maker of small hydropower plants, and reBuy, a German used electronics reseller, over five years ago. Since 2015 it has held shares in Belgium digital advisor and software specialist MCS Solutions; German industrial filter product maker ENTECCOgroup; German agricultural products supplier Pessl Instruments; and Ascon, a German recycling services provider. It acquired Swiss marketing software specialist CS Group and Austrian governance and compliance software maker Avedos in 2017.
The fund's focus was on acquiring minority stakes of companies based in Switzerland, Germany or Austria with a broad emphasis on software and technology. The “sweet spot” for investments for the fund was between EUR 3m and EUR 5m, Habichler said. Jadeberg raised EUR 44m for the fund, he added.
Jadeberg is not looking to raise a new fund but will continue to invest on a deal-by-deal basis, he added.
Jadeberg Partners' current portfolio
*Overall EUR 6m was invested in the company together with PE Group
**Overall EUR 5m was invested in the company together with Iris Capital
***Overall EUR 15m was invested in the company together other investors
Source: Mergermarket (an Acuris company)
Updated on 21 August 2018
by Johannes Koch and Mate Taczman
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