Punch Powertrain secures € 24 million capital
Antwerpen, Belgium: 31 March 2010 - Punch Powertrain is an independent manufacturer of Continuously Variable Transmission systems (CVTs) for cars. The company was acquired by Punch International in 2006. In May 2009, LRM carried out a capital increase of € 7 million and obtained 30% of the shares in return. Recently, LRM exercised its option on the remaining 70% of the shares, causing Punch International to disappear from the Punch Powertrain shareholding. In order to support its further growth, Gimv and Capricorn jointly invest € 24 million in the company today. LRM remains a reference shareholder.
More info on the press release or on Punch Powertrain's website.
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