Trilantic Europe acquires Axicom from RCP

Trilantic Europe, a leading mid-market, pan European private equity investor with a dedicated energy transition strategy, has acquired 100% of the shares of Axicom HV AG (“Axicom”), a global premium manufacturer of advanced solutions for high-voltage power transmission, from RCP.

This investment will enable Axicom to capture the secular tailwinds in the transmission & distribution industry, which are driven by increasing installations of renewables, growing electricity demand and a refurbishment requirement of the aging electricity grid. The transaction will leave Axicom with a flexible and strong capital structure to invest in growth over the coming years.

Headquartered in Wohlen, Switzerland, Axicom is a leading contributor to the energy transition manufacturing grid components required to transmit renewable power safely and efficiently at high voltage levels. With over 60 years of experience, Axicom is a trusted partner to its international, blue-chip customer base and is known for its best-in-class engineering capability, reliability, and for delivering high-quality solutions for complex power transmission applications.

Ulrich Radlmayr, Managing Partner of RCP, commented: “Under RCP’s tenure over the past four years Axicom’s management team developed Axicom into a superb stand-alone operation, strengthened its position as technology leader for high-voltage solutions and increased its revenues by almost 50%. For its next growth chapter Axicom will now benefit from Trilantic Europe’s energy expertise, industry network and capital base.”

Vittorio Pignatti-Morano, Chairman of Trilantic Europe, remarked: “As a thematic investor, we have identified the transmission & distribution subsegment as instrumental to the energy transition and increasingly attractive in light of the multi-billion-dollar capex programmes announced by Transmission System Operators and utilities across the globe.

Within this subsegment, we have conducted due diligence on several companies, seeking differentiation and a sustainable competitive advantage, which we have ultimately found in Axicom. The company’s unique positioning and its intimate global customer relationships combined with our industry network leave us enthusiastic about the opportunities ahead.”

Axicom marks the third investment by Trilantic Europe’s Energy Transition Investments (“ETI”) fund.

About Trilantic Europe

Trilantic Europe is an international private equity firm with significant expertise in investing across Europe and in energy transition. This investment represents a key milestone in the development of Trilantic Europe’s energy transition franchise and a clear opportunity to meet its sustainable investment goals. Trilantic Europe is managed by an experienced team of over 30 professionals and 15 operating partners and senior advisors. Since 2004, it has invested over €2.7bn in 29 companies and currently manages approximately €2.6bn in assets from a wide range of investors. For further information: www.trilanticeurope.com

About Axicom

Axicom is a market leader developing and manufacturing advanced solutions for high-voltage power transmission. The company enjoys long-standing relationships with international blue-chip original equipment manufacturer (OEM) customers. Its comprehensive product portfolio includes high-voltage components and hollow composite insulators for applications such as air/gas insulated switchgears, dead tank breakers, bushings, and outdoor cable terminations. Based in Wohlen, Switzerland, Axicom employs approximately 190 people and operates with a global salesforce. www.axicom-hv.com

About RCP

RCP is an independent, international private equity firm investing across industries in Europe. Its focus is on special situations and transformational environments, particularly corporate carve-outs. RCP actively develops and transforms businesses through performance improvements and buy-and-build strategies. RCP acquired Axicom in a carve-out transaction from TE Connectivity Ltd. in January 2021. For further information: www.rcp-invest.com

For further information

RCP Portfolio Management & Transaction Services
Branch of RCP Group GmbH
Hackenstrasse 5a
80331 Munich
Germany
info@rcp-invest.com