Cognetas buys German metals firm

Cognetas, a pan-European mid-market firm previously known as Electra Partners Europe, has acquired Gebrüder Gienanth-Eisenberg, a German specialty metals and mouldings manufacturer.

No financial details were disclosed. The transaction is expected to be completed in early 2008 subject to merger clearance being granted by the relevant authorities. Société Générale advised Cognetas on the transaction.

Gienanth, which originated in 1735 and is headquartered in Eisenberg, Germany, produces engine blocks for medium to large diesel and gas engines and of compacted granite iron products for use in clutch and transmission systems in the automotive industry.

The company has approximately 900 employees, clients including LuK, Cummins, Tognum (formerly MTU Friedrichshafen), General Electric, Daimler, MAN and Deutz Power Systems. Gienanth had revenues of approximately €150m (US$221m) in 2007.