FRANKFURT/ZURICH (Reuters) – Acrotec, which makes components for watchmakers including Rolex and Patek Philippe, is being readied for a sale worth up to 950 million Swiss Francs (773 million pounds) including debt by its private equity owner Castik Capital, three people close to the matter said.
Although the Swiss watch industry saw demand collapse during the COVID-19 pandemic as stores around the world closed and Chinese tourists no longer flocked to shopping hubs like Paris, sales have since recovered.
As a result, the Swiss maker of oscillating weights, escapements and shock absorbers for luxury watches is expected to launch an auction early next year, the sources told Reuters.
Castik and Rothschild ROTH.PA, which is working with it on the planned sale, declined to comment.
Acrotec, which also makes medical implants as well as high precision components for the electronics, aerospace and automotive industries, has