Technological services for Automotive industry

Established in the early 70s, Primat is nowadays a leading group in the advanced technological services market, addressed mainly to the automotive sector.

Specifically, the group’s technology allows the realization of special surface treatments with high added value on fastening systems (so-called “fastener”).

Optimization of the buyout operation through HAT’s support in the transaction scouting and the development of portfolio clients.

The transaction, a buyout operation presented by an advisor of the Management Team network, has consisted of the acquisition in April 2017 of 100% of Primat through a special purpose vehicle owned 20.3% by HAT Fund 2 and for the remaining part by the funds Tendercapital Ltd and Compagnie Financiere Saint Exupery Sicav-Sif and by the company’s management. HAT’s investment was equal to €6.1 million.
HAT contributed to the value growth of Primat through the support in the scouting and evaluation of potential extraordinary transactions, the support to the organic growth through the development of customers’ portfolio and the support in the preparation and implementation of an important investment plan in Automation & Robotics.

6,1mln/€

Invested capital 2017

13,1mln/€

Realized value 2022

2,2x

MOIC

Exit strategy and investment enhancement

Irrevocable call option on HAT’s stake. The exit was achieved following the exercise of the irrevocable call option by Tendercapital Ltd on HAT’s stake. The transaction generated a return equal to 2.2x times the invested capital.

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