Triton, together with co-investor Capvis, has agreed to sell Wittur, one of the world's largest independent suppliers of elevator components and systems, to the U.S.-based private equity group Bain Capital. Triton was advised by Linklaters and Wolf Theiss (on all Austrian law aspects of the transaction), while Bain Capital was advised by Kirkland & Elis and Hengeler Muller.
Founded in 1968, Wittur's products include lift machines, elevator doors, hydraulic devices, safety components, gearless drives, and slings, all produced for well-known international brands. According to a statement released by Wolf Theiss, following Triton's acquisition of the company (from Goldman Sachs, Cerberus, and Credit Suisse) in 2010, "Wittur was able to significantly develop its leadership position as one of the world's largest independent suppliers of elevator components and systems and substantially increased its business particularly in Asia.” The owners decided to sell Wittur in August 2014.
Wolf Theiss performed a vendor due diligence and advised on all legal aspects of the sale under Austrian law. Partner Benjamin Twardosz said of the deal that: "We are delighted to have worked with Capvis, Triton and Wittur on the purchase and sale of Wittur over several years and through two private equity investment cycles.”
The Wolf Theiss team consisted of Partners Twardosz, Horst Ebhardt, and Matthias Unterrieder, Counsels Hartwig Kienast and Karl Binder, Senior Associates Katrin Bernadette Stauber, Matthias Schimka, and Wolfram Schachinger, and Associates Eva Heil and Sandra Spitzer.