Private equity firm Equistone Partners Europe has acquired a majority stake in German machinery manufacturer RENA.
RENA was founded in 1993 and manufactures machinery for wet-chemical surface treatments for customers in the semiconductor, medtech, green energy, and glass and sapphire sectors.
It is based in the Black Forest in Germany and employs around 800 people worldwide. The business generates an annual output of over €120 million (£104 million).
As part of the transaction, RENA’s CEO Peter Schneidewind and its management team will become shareholders in the company.
Stefan Maser, Partner at Equistone, said: “We are impressed by RENA’s leading market position, which is based on innovative technology, high quality, long-standing customer relationships and a strong management team.”
Peter Schneidewind, CEO of RENA, added: “Together with our customers, we will continue to develop customized applications and launch new intelligent solutions for wet-chemical surface treatments worldwide.”