October 6 2022
PINOVA divests majority stake in WEETECH to Halma
Funds advised by PINOVA Capital GmbH (PINOVA) have sold their majority stake in WEETECH Holding GmbH (WEETECH) to Halma plc (Halma).
Founded in 1973 and headquartered in Wertheim, Germany, WEETECH designs and manufactures electrical testing technology, enabling their customers to test the integrity of both high and low voltage electrical systems, including cabling harnesses, subassemblies and components. Their modular products are used in a range of industries, including by aerospace, avionics and rail manufacturers, the mechanical and electrical engineering industry, and by Tier 1 suppliers to automotive manufacturers.
„We have been very delighted with the growth and development of WEETECH since our investment in 2016 and believe that Halma is a very good owner to support the future growth of the business“, said Martin Olbort, Partner at PINOVA.
“E-Mobility is an important building block for a sustainable and resource-efficient mobility system. The demand has risen substantially and has created new markets and technologies along the way. PINOVA has partnered with WEETECH to support this vision early on and develop products enabling the safe use of high voltage electricity in all means of transportation”, said Bernd Haertlein, Co-Chief Executive Officer of WEETECH.
WEETECH is the leading developer and manufacturer of test systems for cable, component and function tests in industries using low and high voltage applications. In the last 40 years, WEETECH built up a loyal blue chip customers base from the automotive, railway, aerospace and engineering industries. The close cooperation in planning, programming and installation of specific solutions has made WEETECH the benchmark in cable and functional testing. For more information, please visit: www.weetech.com
Halma is a FTSE 100 global group of life-saving technology companies. For more information, please visit: www.halma.com
About PINOVA Capital
PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on “Mittelstand” companies with sales between €10 million and €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche. For more information, please visit: www.pinovacapital.com
PINOVA Capital GmbH