Accursia acquires GA Actuation Systems

The deal came about via a structured auction process, managed by sell-side adviser Carlsquare. The company has an enterprise value of less than €10m.

General Aerospace took over the business in 2017. The company was subsequently acquired by private group Jaedo, which has now sold its stake in the company.

Accursia makes acquisitions on a deal-by-deal basis, generally investing in underperforming companies with revenues of €20-200m, with the intention of assisting portfolio companies to operate viably and sustainably.

"We see GA Actuation Systems offering significant growth and value creation potential going forward," Oliver Wuertenberger, senior adviser at Accursia, told Unquote. "The acquisition fits right into our approach as an industrial holding and we have already identified major operational synergies with our existing portfolio companies as part of our due diligence."

"We have proven to be a reliable transaction partner with less than eight weeks from term sheet to closing," he added.

The deal is Accursia's fifth acquisition in 2020.

Company
GA Actuation Systems is an original equipment manufacturer for the automotive and aerospace industry. It produces products including cables, handbrakes and pedal systems. According to its website, its clients include BMW, Daimler and Renault. GAA has also recently developed a product line for the outdoor sector, according to a statement.

Founded in 1961, the company is based in Zillertal, with an additional site in Sura Mica in Romania. GA Actuation Systems employs 130 people and generates revenues of €17m.

People
Accursia Capital – Martin Scheiblegger (CEO); Oliver Wuertenberger (senior adviser).

Advisers
Equity – Dentons (legal).
Vendor – Carlsquare (corporate finance).

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