ATESTEO

4.4x money multiple

From an owner-managed diversified engineering company to a world-leading testing and inspection specialist for the automotive industry

Investment date

2013 - 2018

Good to great

money multiple

Strengthened #1 global market leader in independent drivetrain testing services

Over 135 test units across five facilities in Germany and China managed as one test field

IRR

Increased testing capacity by 30%

Grew sales from hybrid and electric vehicle tests by c.70% p.a.

EBITDA growth during investment

Accelerated growth in China, doubling sales from Asian customers

Completed two acquisitions to complement service offering, including road-based tests

Tripled capacity of Chinese operations and opened a new state-of-the-art facility in Germany

Expanded internationally via customer wins in Europe, China and North America

Supported management to successfully grow in hybrid and electric vehicle testing, significantly outperforming its peers in this area

Strengthened senior management team to support growth trajectory and professionalisation

Completed successful refinancings in 2016 and 2017