Private equity firm Ambienta has sold Lakesight Technologies for €140 million (£125 million), generating a 10x return on investment.
The business was sold to TKH Group, a technology company.
Lakesight provides machine vision services to the industrial and mobility markets, offering solutions for inspection, measurement and process control.
Machine vision helps businesses improve the efficiency of their production processes, for example through better use of raw materials, and so reduce the impact on the environment.
Lakesight was established as a buy-and-build platform to consolidate smaller players in the industry and currently encompasses three companies – Italian firm Tattile and German firms Mikrotron and Chromasens.
It is based in Germany and has 169 employees across three sites. During the investment period it had a compound annual growth rate of 26% and in 2017 it had sales of €41 million (£23 million).
Mauro Roversi, Partner and Chief Investment Officer at Ambienta, said: “With Lakesight, Ambienta has created an innovative European leader in the machine vision sector which has delivered return on the invested capital of more than 10 times to Ambienta with an IRR of better than 50%. This demonstrates our belief that backing businesses and technologies that promote efficiency, cut wastage and costs and therefore reduce emissions is both good for the environment and a sustainable investment strategy.”
Ambienta focuses on investing in European companies which are driven by environmental trends and has so far completed 28 investments in the areas of resource efficiency and pollution control.