Atherm has been acquired by APICAP and a manager

The private shareholder of Atherm has sold the company to APICAP and to Romain Lecot, the new manager. Financial details will remain confidential.

Founded in 1988, Atherm is a French leading manufacturer on the market of electrical immersion heaters and is also a main actor on the coolers market, with its cold plates and heat pipe systems. The company, through its two divisions, provides solutions for cooling or heating in extreme conditions, in particular thermal design, mechanical design and engineering, in the medical, military and transport sectors. Atherm serves directly customers located in Europe, Asia, North America, Australia and New Zealand, and has two subsidiaries in China and in India to cover local demand.

Apicap, following the merger between OTC and Agregator Ardens, is a private equity benchmark player that finances and supports French SMEs with turnover between US$1–50 million. The firm's portfolio includes 127 SMEs and the company manages 39 investment vehicles for approximately US$500 million of invested assets.

The former shareholder has reinvested in the new structure.

Oaklins' team in France advised the seller in this transaction.