"This is a highly strategic addition to KEYMILE,” said Riverside Partner Peter Schaberger. “Hytec delivers some outstanding patents and product-development capabilities not previously within KEYMILE’s scope..."
(PRWEB) December 11, 2013
The Riverside Company has added Hytec Gerӓtebau GmbH (Hytec) to its KEYMILE platform. KEYMILE is a manufacturer of data transmission systems, principally serving utility companies, oil and gas operators, other mission critical networks and public telecommunications providers.
Hytec has spent more than 20 years becoming a niche leader in communication networking products designed to withstand harsh environmental conditions. Based in Mannheim, Germany, its product range covers low-data rate modem technologies such as small Ethernet managed and unmanaged switches, analog modem technology, and power line communication.
“This is a highly strategic addition to KEYMILE,” said Riverside Partner Peter Schaberger. “Hytec delivers some outstanding patents and product-development capabilities not previously within KEYMILE’s scope, which will allow KEYMILE to bring advanced new products to market quickly.”
One of the immediate benefits the addition of Hytec brings to KEYMILE is the ability to enter new growing markets in energy, utilities and transportation with highly adapted small devices relevant for the power automation and railway communication market sectors.
“Hytec is an outstanding company and has built up a loyal customer base despite few sales resources,” said KEYMILE CEO Björn Claassen. “Hytec has an excellent team and an efficient R&D process, and we´re excited to have them to join KEYMILE.”
Working with Schaberger on the transaction for Riverside were Vice President Balázs Tahy, Vice President Sven Schulze and Origination Vice President Patrick Schaich.
KPMG, Jones Day and Willis advised Riverside on the transaction.
The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 320 transactions. The firm’s international portfolio includes more than 70 companies.