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Advised by Germany-based Ventizz Capital Partners, Ventizz Capital Fund IV LP has acquired Zett Optics, a supplier of medical and laboratory lighting, from private equity house Allegra Capital.

Zett Optics was acquired for an undisclosed sum with funds from Ventizz’ Fund IV. Ventizz has four funds, with total capital under management of more than €650 million (£499 million). Ventizz Capital Partners advises funds, which are invested in buy-outs and growth equity for small and medium-sized high tech companies primarily in German-speaking Europe.

Headquartered in Braunschweig, Germany, Zett Optics has grown more than 20 per cent per annum and is reported to be considerably profitable. The company designs, develops and manufactures lighting products ranging from entire lighting systems to plastic optical components.

The acquisition is the fund’s first and was closed in December. Reinhard Löchner, managing partner, said: “With its excellent know-how in the field of LED technology as well as its high quality injection moulding, Zett Optics is best-positioned in its market. We will invest further capital to accelerate the company’s future growth.”

To date, funds advised by Ventizz have invested in 31 companies with a focus on renewable energy/solar power and high value add engineering, medical technology and ICT. In addition to a variety of trade sales, Ventizz funds have also achieved three successful IPOs.

The acquisition of Zett is one of several investments in medical technology and is expected to give Zett Optics a substantial platform to strengthen its market position, allowing the company to offer its customers a broader innovative product offering.

Franz Legal provided German counsel to the fund. Christian Franz, partner, and Axel Staudt, senior associate, led the legal team with the assistance of labour law specialist and partner Ute Spiegel.

The technology team in the Munich office of Mummert & Company, an international corporate finance adviser with offices in Germany, US, UK and Austria, acted as the exclusive financial adviser to the vendor.

The team was led by managing partner Harald Maehrle and associate Monika Friedrich. “This transaction is a great example of a successful secondary buy-out. The professionalism of the vendor and buyer throughout the entire process enabled us to close the transaction in less than three months after initially approaching the buyer,” Maehrle said.

Zett has 50 employees and since the Leica spin-off in 2004, the company has focused on market segments, which have yielded over-average domestic and international growth rate.

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