GvW advises Capiton on the acquisition of Cedes AG

A fund managed by capiton AG has acquired 100% of the shares in Cedes AG, a leading manufacturer of sensor technology in the elevator and door industry based in Landquart (Switzerland). The company’s products, which utilize infrared and image processing technology, provide solutions for the automation of elevators, escalators, and entrances. With around 400 employees worldwide at locations in Switzerland, Japan, the USA, Singapore and China, the business generated sales of around CHF 55 million in 2019.

Capiton acquires Cedes from Assa Abloy, a Swedish group of companies operating worldwide in the field of entrance technology with sales of over EUR 7 billion. The transaction will be financed by the capiton VI fund and co-investors investing alongside capiton. The parties have agreed not to disclose the purchase price. The transaction is still subject to approval by the competition authorities.

BMH Bräutigam acted as the lead legal counsel on the buyer side. GvW Graf von Westphalen advised capiton from its office in Shanghai on the Chinese legal aspects of the acquisition. The GvW team led by Dr. Dominic Köstner (Local Partner, lead partner) and Managing Partner Patrick Heid included associates Zheng Ye, Kerui Li, Mengyuan Gong and Jiaying Luo (all Corporate/M&A, Shanghai). 

The German and Chinese lawyers of GvW just recently advised capiton in China in connection with the sale of the Trioptics Group. Since 2008, GvW regularly advises European and US companies in their M&A activities and business relations in China from its own office in Shanghai. In addition, the firm's China practice offers Chinese companies comprehensive advice on investments and business relationships in the German and European market.

Key Contact

Dr Tim Nesemann
Lawyer
T +49 89 689077-0
t.nesemann@gvw.com

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