Callista acquires MT & C-CON Group from Ayala Corporation
Acquisition of six companies at eight locations
Add-on to the modelling, design and prototyping business of Schäfer Group
Munich, August 18th, 2023. Callista Private Equity GmbH (“Callista”) announces the acquisition of MT & C-CON Group (“Target Group” or “Companies”) from AC Industrial Technology Holding Inc., a subsidiary of AC Industrials (Singapore) Pte. Ltd., a company under Philippines-based conglomerate Ayala Corporation (“Ayala” or “Seller”), and minority shareholders through Callista Asset Management 18 GmbH (“Buyer”).
The Target Group has 313 employees distributed across eight locations in Germany (Ingolstadt, Munich, Lebach, Eitensheim, Garmisch-Partenkirchen, Neuburg, Kinding und Hannover) and generated 46 Mio. Euro in sales in 2022. The Companies serve leading automotive OEMs and suppliers with their expertise in engineering, design, over modelling, a tool shop, special machinery to serial production.
The sale of MT & C-CON continues Ayala’s strategic priority to realize value through a combination of strategic partnerships and divestments from certain non-core assets. Ayala will sharpen its focus on the continued expansion of its core businesses in real estate, banking, telecommunications, and power, and scaling up its emerging businesses in healthcare and logistics.
The Group has suffered from the ongoing crises in the automotive industry, intensified by the Covid pandemic, the Ukraine-Russia war as well as raised energy and raw material costs.
Callista will continue to pursue the ongoing restructuring path and support with its turnaround expertise to bring the Target Group back to profitability. Part of the strategy is also the collaboration with Schäfer Group, which was recently acquired by Callista and is also active in the engineering, design, modelling and prototyping for the automotive industry.
This acquisition already marks the fourth buy-side transaction of Callista in 2023. The investment team expects a continuously strong pipeline of new acquisition opportunities for the remaining year.