Tag Archives: Industrie

Ferd acquires 33 percent of the diagnostics company Aidian

Nordstjernan

The Finnish company Aidian develops, manufactures and sells instruments and tests that are used in such fields as primary care to provide quick and accurate test results. Aidian’s range of tests addresses several global health problems, such as antimicrobial resistance (AMR), diabetes and colorectal cancer. Aidian has tests that are intended to reduce unnecessary prescriptions of antibiotics, which is a driver behind the growing threat from AMR and antibiotic-resistant bacteria.
“Finnish company Aidian has built up a leading, global position in point-of-care diagnostics. The company’s instruments and tests are a key part of meeting global health-related challenges. Together with the majority shareholder Nordstjernan we want to develop the company further, with the aim of continuing to build up a leading player in point-of-care diagnostics”, says Morten Borge, CEO of Ferd.
Earlier this year, the Swedish family-controlled investment company Nordstjernan announced that it had acquired 100 percent of the shares in Aidian. Ferd is now purchasing 33 percent of the shares, thus becoming a part-owner of Aidian.
“We are very pleased to have Ferd as a partner in Aidian’s further development and growth journey. Nordstjernan and Ferd share many similarities in that we are family-controlled companies that both apply a long-term approach to our investments. We both also see great potential in the healthcare sector”, says Peter Hofvenstam, CEO of Nordstjernan.
The parties have agreed not to disclose the conditions of the transaction.

Peter Hofvenstam
President and CEO
Nordstjernan AB
Questions will be answered by:
Stefan Stern, Head of Communications, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se
 
Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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Francks Kylindustri acquires Kylfokus

Segula

Francks strengthens its position within industrial service in the Western part of Sweden through the acquisition of Kylfokus, based in Mölndal, Gothenburg. Kylfokus installs refrigeration systems and heat pumps as well as offers industrial service of chillers. The current owners will continue to develop the company in collaboration with Francks.

We are very pleased that Kylfokus – with its long experience and impressive track record of profitable growth – has chosen to join Francks. The acquisition of Kylfokus is a strategic cornerstone to establish a strong position within industrial service in the Southwestern part of Sweden. Kylfokus is a well-established business with strong local roots and three owners with a unique experience in the field. We look forward to continue the journey together.” says Mikael Syrén, Regional Manager, Francks Kylindustri.

”We are very pleased to be part of Francks and to be part of a larger group from a technical and market perspective. We are convinced that this will give us the opportunity to offer improved customer service and to be a more attractive partner for bigger national clients. We look forward to exchange experience and expertise to accelerate our growth together”. says the Founders of Kylfokus.

Francks Kylindustri is the leading Nordic provider of industrial and commercial refrigeration solutions with approximately 40 offices in both Sweden and Norway.

For further information, please visit www.francksref.com or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB
+46 70 229 11 85, planting@segulah.se

Mikael Syrén, Regional Manager, Francks Kylindustri Sweden AB
+46 73 543 00 25, mikael.syren@francksref.com

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IK Partners enters into exclusive negotiations with LGT for the acquisition of Batisanté

London, 26 April 2022 – IK Partners (“IK”) is pleased to announce that the IK IX Fund has entered into exclusive negotiations with LGT Capital Partners (“LGT”) to acquire a majority stake in Batisanté (“the Company” or “the Group”) alongside management who will be reinvesting. Financial terms of the transaction are not disclosed.

Founded in 1987 and based in Neuilly-Plaisance, France, Batisanté is a leading compliance and safety services provider, primarily servicing residential buildings and professional customers.

With approximately 500 technicians, the Company offers four main services: fire protection, pest control, diagnostics, and maintenance works. Batisanté is the leading player in the Paris area and is expanding into other French regions.

The Group has been able to differentiate itself with its full-service offering, a KPI-orientated approach, and solid tech-enabled capabilities. Batisanté has grown considerably over recent years, organically and via M&A. In December 2021, Batisanté completed the transformative acquisition of Bouvier, a sizeable competitor in Paris. The Company benefits from a large base of contracted revenues.

The next phase of the Company’s journey will see IK working alongside management to pursue organic growth in core verticals, cement its leadership position in the Paris area and expand into other regions.

Nicolas Milesi, CEO at Batisanté, said: “Having joined the Company in 2019, I have had the pleasure of leading the Group through a significant period of growth. Our success is due to the vast range of services we provide and our best-in-class operations. We rely on a dedicated team of experts who provide unrivalled support to all our clients. We thank LGT for their support to date and warmly welcome IK as we continue on our journey. I have no doubt that their experience and expertise will help us take the Company even further.”

Rémi Buttiaux, Managing Partner at IK and Advisor to the IK IX Fund, said: “We have been impressed with Batisanté’s journey to date and are very happy to be partnering with Nicolas and the team in the next step of their journey. The Company plays an important role in offering services that are critical for the maintenance of buildings and we have observed their resilience over time. We look forward to supporting the team with their ambitious M&A strategy.”

Etienne Haubold, Partner at LGT, said: “It has been fantastic to work with Nicolas Milesi and the wider team at Batisanté. We are delighted that we have been able to support the Company’s growth over the years; creating the French leader of the residential building protection market. We wish the team every success for the future and strongly believe that with the support of the IK team, Batisanté is very well positioned for its next phase of growth.”

For further questions, please contact:

IK Partners
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com

Batisanté
cdellan@batisante.fr

LGT Private Debt
Phone: +33 1 81 80 56 00
guillaume.claire@lgtcp.com

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Blanchon, a leading European player in protective and decoration coatings and paints for the home improvement market, accelerates its international growth with the acquisition of RIGO in the Netherlands

IK Partners

Lyon, April 20th 2022. Blanchon Group announces the acquisition of Rigo Verffabriek and Rigo Verfcentrum, a Dutch family-owned business (“the Company”, “the Group” or “RIGO”), specialising in the design and manufacturing of finishing products for wood and paints for heritage buildings, dedicated to professional customers.

This acquisition is part of the Blanchon Group strategy to accelerate its international growth and become a European leader in protection, maintenance, renovation and decoration of indoor and outdoor wood surfaces and vinyl flooring. With very strong product brands, including Skylt, Step, Royl, Toplin and Skyn combined with significant sales growth over the last decade, RIGO has become the market leader in the wooden floor segment in the Netherlands. The Company operates from Ijmuiden, Netherlands and this site will be added to the well-established European subsidiaries of Blanchon, to accelerate the group international business growth.

Leveraging on the complementary combination of the Blanchon and RIGO product lines and strong brands awareness, as well as on their respective client portfolios, this acquisition allows Blanchon Group to become the wooden floor market leader in The Netherlands for professionals. Further to the acquisition of Ciranova in June 2021, the Blanchon Group is fully established as the market leader in the Belgium, Netherlands and Luxembourg area, representing the largest region, next to France.

RIGO’s previous owners and top management will remain fully involved in the company and takes over the overall responsibility for the Benelux region, and have invested into the Blanchon group alongside with current shareholders.

Guillaume Clément, President and CEO of the Blanchon Group, said: “We are very pleased to welcome the talented RIGO team to Blanchon Group. The acquisition of RIGO is a perfect match. RIGO has family roots like Blanchon and a deep entrepreneurial spirit forged by three generations since 1938. RIGO’s product quality and brand reputation, combined with its strong expertise in flooring and furniture, are key success factors. Furthermore, RIGO has invested substantially in developing a sustainable product offering, which includes the iconic Toplin product range. We are now in a position to offer the largest wood care product offering, both for indoor and outdoor applications, under three complementary and highly recognised brands: RIGO, Blanchon and Ciranova. All products will be locally available in the Netherlands with the ambition to fully support our Dutch professional customers’ business growth.”

Toon Van Westerhoven, Co-owner of RIGO, said: “We are very pleased to join Blanchon Group as we share the same DNA and values. It is for this reason that myself and my brother, Machiel Van Westerhoven, decided to sell our shares to Blanchon. We have succeeded in building a strong brand in the Netherlands to date and it is now time to build a stronger company. By joining Blanchon Group, we can benefit from the combined knowledge, techniques and assets.”

Michael Van Westerhoven, Co-Owner of RIGO, added: “The acquisition will allow RIGO to expand into new market segments and countries while leveraging the Blanchon Group organisation and indeed, it will further strengthen RIGO’s position in the Benelux region. This is a great journey to embark on and a promising new chapter for our company.”

Contact Details:
Blanchon Group: Alexia Fleury – afleury@blanchon.com,
Rigo Verffabriek: Toon Van Westerhoven – toon@rigoverffabriek.nl

About Blanchon

Founded in 1832, Blanchon is a specialist in protective and decoration coatings for wood and vinyl substrates for indoor and outdoor applications. The group services more than 8000 customers globally with its brand ‘Syntilor’ – dedicated to DIY, ‘Blanchon’ and ‘Ciranova’ and ‘Carver’ – for professionals, and ‘Blanchon Industrie’ and ‘Ciranova Industrial Finishes’ – for flooring manufacturers. The group is recognized for its high quality and sustainable product offerings, and its local technical expertise to support customers. Blanchon group was first to launch in 2020 a complete wood care Bio-based product offering for professional and end-consumers. It operates through 7 subsidies in France, Belgium, Italy, Poland, UK, USA and China and employs approximatively 400 people. For more information, visit www.groupeblanchon.com

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About RIGO Verffabriek

The Rigo Verffabriek Group is specialised in the development and production of finishing products for parquet, furniture and wood for more than 80 years, with a focus on professional segment in the Netherlands. It is a family company, run by the third generation Machiel Van Westerhoven and Toon Van Westerhoven, together with their partners Amanda and Henriette. The Group consists of a production and distribution company in the Netherlands, located in Ijmuiden, NL. It employs ~55 people, all based in the Netherlands. Rigo’s values and culture are characterised by product quality, and innovation, and sustainable growth and strong customer relationships with high service level to craftsmen. ‘Alles voor het meesterwerk’ (‘All for the masterpiece) is the company moto. For more information, visit www.rigoverffabriek.nl

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Ampersand Capital Partners Invests in Syft Technologies, Leading SIFT-MS Solutions Provider

Wellesley, MA, 18 April, 2022 – Ampersand Capital Partners, a private equity firm specializing in growth equity investments in the life sciences and healthcare sectors, today announced a minority investment in Syft Technologies Limited, a world leading provider of Mass Spectrometry (SIFT-MS) solutions. Ampersand’s investment will allow Syft to accelerate their progress in the semiconductor market and develop the next scalable opportunity in life sciences.

Canterbury, New Zealand-based Syft develops SIFT-MS, a form of direct mass spectrometry that analyses volatile organic compounds (VOCs) in air with typical detection limits at parts-per-trillion level (by volume; pptv). Realtime, quantitative analysis is achieved by applying precisely controlled soft chemical ionization and eliminating sample preparation, pre-concentration and chromatography. Syft’s SIFT-MS instrumentation is industry-proven, providing non-technical operators with laboratory-grade chemical analysis presented in a format that they can understand and act on.

Alex Fala, CEO of Syft, comments “We are excited to partner with Ampersand and benefit from the firm’s expertise and networks as we continue to build on Syft’s momentum and develop our next scalable opportunity in life sciences.”

David Patteson, Partner at Ampersand, shared “Syft has a remarkable technology and product platform, with notable traction in semiconductor and adjacent segments. Their life science market pull, applications, and commercial expertise, combined with Ampersand’s investments, should allow for meaningful penetration and adoption rates. We are thrilled to partner with their executive team, board, and shareholders to help realize the full potential.”

As part of the investment, Syft will also welcome David Patteson to the Board. David leads Ampersand’s Portfolio Acceleration team, and currently serves as Chairman of US headquartered Alliance Pharma. He has over 30 years of experience in Board and CEO roles, scaling businesses built on mass spectrometry, and other analytical instrumentation technologies.

About Syft Technologies Limited

Syft is a world leading provider of Selected Ion Flow Tube Mass Spectrometry (SIFT-MS) solutions. Revolutionizing the trace analysis world, Syft’s instruments enable the rapid, targeted and comprehensive analysis of compounds in air to a parts-per-trillion level. Syft’s technology is used in industries including semiconductor, energy, life sciences, environmental, consumer products, laboratory and research, security and air quality monitoring. Based in Christchurch, Syft trades on New Zealand’s Unlisted Securities Exchange (USX: SYF). Further information is available at syft.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector.  With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors.  Additional information about Ampersand is available at ampersandcapital.com.

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CVC Fund VIII to acquire the Neolith Group, the global leader in sintered stone surfaces

The company is pioneer in the creation of sintered stone and a global leader with business in over 100 countries

CVC Capital Partners VIII, a global private equity platform, has agreed to invest in the Neolith Group, the global leader in the sintered stone industry, that has been controlled by Investindustrial and its founders, the Esteve Family, until now.

Neolith, pioneer in the creation of sintered stone and a global leader with business in over 100 countries, leads the ongoing process of transformation in the stone surfaces industry with innovative and sustainable solutions that combine design and functionality for a wide range of applications; from kitchens, bathrooms and designer furniture to building façades and coverings for the most cutting-edge architecture projects.

Neolith’s strong organic growth and profitability in recent years alongside a unique market position were key factors in the acquisition. Jose Luis Ramón, CEO of Neolith Group said: “It is a privilege to welcome CVC into the great Neolith project and its arrival will no doubt represent a new turning point in the group’s history, accelerating our ambitious strategic objectives. Its extensive experience and global presence will be a great help to us in developing our enormous potential”. He went on to add: “We are grateful for the confidence and constant support of Investindustrial and the Esteve Family in making Neolith a unique platform that has enabled us to consistently expand the business with a firm commitment based on innovation, branding, sustainability and a straightforward approach based on open collaboration.”

Javier de Jaime, Managing Partner at CVC, said: “We are thrilled to have materialised this investment in Neolith so we can continue leading this industry together and undertake the next stage of the investment, which will allow the company to continue accelerating its international expansion and multiply its growth behind the unique value proposition and position it enjoys in the market. CVC funds invest in companies with outstanding track records that are leaders in their respective industries. Neolith symbolises what we look for in any investment: a growing global market, a unique business model and a multi-disciplinary team that is highly skilled, motivated and international. Our vision is to multiply value in the long term and help the company to unleash its full potential, behind sustainable growth, by committing to technology, research and development of advanced materials, design and branding.”

In turn and on behalf of the current investors, Andrea C. Bonomi, the Chairman of the Industrial Advisory Board of Investindustrial, which became a majority shareholder in 2019, said: “We identified the sintered stone sector as the fastest growing niche within high-end design surfaces solutions, due to its strong technical and sustainable features. Within the sector, Neolith is a global leader based on a strong culture of quality and R&D built by the founding Esteve family, and carried on by the excellent management team in place.”

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3i announces the sale of QSR to Datwyler for $625m

3I

3i Group plc (“3i”) today announces that it has agreed to the sale of Q Holding’s QSR division, a leading developer and manufacturer of electrical connector seals, to Datwyler, a leading provider of high-quality, system-critical elastomeric components.

Proceeds from the sale of QSR will be used to retire the Q loan facility and return substantial capital to 3i and other investors. Following the transaction, Q Holding will consist of the current Q Medical Devices business, a leader in the production of outsourced medical devices for the cardiovascular and endosurgical markets, as well as critical silicone and other elastomeric components for the medical device and pharmaceutical markets.

Headquartered in Ohio, United States, with operations in North America and Asia, QSR’s sealing technologies offer world class and mission-critical solutions designed to safeguard electrical connections in the harshest environments such as mobility, industrial and aerospace settings. QSR’s products support a greener, safer and more connected world and are widely adopted in electric vehicles, autonomous driving applications and connectivity applications. QSR has unmatched material science, tooling, product engineering and process technology, and a history dating back to 1966.

3i invested in QSR parent Q Holding in 2014 and during its ownership has invested significantly to build and expand QSR’s manufacturing footprint in Mexico and China, grow QSR’s capabilities serving fast-growing markets such as high voltage EV applications, and support deployment of best-in-class manufacturing solutions to deliver the highest quality products to QSR’s customers.

Rich Relyea, Partner, 3i, commented: “QSR’s offering and expertise are unmatched and we are proud to have supported the tremendous QSR leadership team in executing its strategy. The Company has achieved significant growth globally, has provided its industry-leading customers with advanced solutions for exciting markets such as the electric and hybrid-electric vehicle industry, and has created a pathway for continued future growth for its new owner. We are simultaneously excited to continue our partnership with Mauricio and the rest of the Q team in expanding Q Medical’s world-class offerings to the high-growth global medical device industry.”

Mauricio Arellano, CEO, Q Holding, added: “We are incredibly proud of the business we have built and the quality of the team we have assembled to serve our customers. We are confident QSR’s team, capabilities and expertise will be a strong fit with Datwyler and we are looking forward to taking the next step in Q’s development with our partners at 3i.”

The transaction is expected to complete in Q2 2022, subject to customary antitrust approvals.

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Elkem, Hydro and Altor partner to accelerate growth of Vianode, producer of sustainable battery materials

Altor

Elkem, Hydro and Altor (Altor Fund V) today announced a partnership with the intention to accelerate the growth of Vianode, a producer of sustainable battery materials. An investment decision for a potential first-phase plant at Herøya, Norway, is expected in the first half of 2022.

Vianode has developed a range of synthetic graphite products for batteries with unique performance characteristics and produced with significantly lower CO2 emissions than today’s standard materials – supporting the ambitions of leading battery cell and automotive manufacturers. Today, an electric vehicle (EV) contains on average 40-70 kg of graphite, representing a vital component of the battery. Vianode’s products are developed based on specialized know-how in high-temperature processes, closed production systems, lower energy consumption and access to renewable energy.

Founded in 2021, Vianode currently has around 50 employees. The company builds on Elkem’s experience in advanced material solutions, its in-house research and development resources, as well as the strong performance of Vianode’s industrial pilot plant in Kristiansand, Norway. After this transaction, Hydro and Altor will each have 30% ownership in Vianode, while Elkem will retain the remaining 40% ownership.

“I would like to congratulate the parties on a very exciting industrial collaboration! The Norwegian Government has great ambitions for a green industrial boost where batteries are one of six focus areas. The purpose is to create new, green jobs, increase mainland investment, increase exports outside oil and gas and reduce greenhouse gas emissions. These are the kind of projects and partnerships we want more of when we now will go through the biggest restructuring of the Norwegian economy ever,” says Norwegian Minister of Trade and Industry, Jan Christian Vestre.

An investment decision for a potential first-phase plant for Vianode is expected during the first half of 2022. This plant will have approximately 100 employees and produce graphite for more than 20,000 EVs per year. A potential full-scale plant will produce graphite for more than 1 million EVs per year and is expected to increase the number of employees in Vianode to around 300, enabling more than 1,000 green jobs including external effects.

The total investments in the first-phase plant and preparations for a potential full-scale plant are estimated at around NOK 2 billion. The plant development is pending clarifications related to framework conditions, including public support mechanisms and long-term access to competitive renewable energy and grid infrastructure.

“The market for battery materials is growing at an exponential rate and developing sustainable value chains is critical for the green transformation. Vianode aims to become a leading producer of sustainable battery materials, and this represents an attractive growth opportunity for Elkem. Hydro and Altor both add significant experience and expertise in developing large-scale industrial projects in the battery value chain. Through complementary skillsets, the partnership with Hydro and Altor will contribute to making Vianode a highly valuable contribution to the European battery value chain,” says Elkem CEO Helge Aasen.

“We are excited to partner up with Elkem and Altor to industrialize Vianode. We look forward to utilizing our industry scaling capabilities including project execution for large industrial projects, our material and process competence and experience as well as our track record from serving the car OEM segments for decades. Vianode is a good fit for our strategic direction of growing in renewable energy and new-energy solutions,” says Hilde Merete Aasheim, Hydro President & CEO.

“We are thrilled to partner with Elkem and Hydro on this very exciting opportunity. Vianode is perfectly positioned to shape the future of the automotive industry and will be an important contributor to the green transition and a carbon neutral future. We have experience from partnerships in other green transition projects where entire industries are being reshaped, and with Vianode we will build a new green EV supply chain in Europe. We are very impressed by the work Elkem has done with Vianode, and we think it will be a very exciting partnership with both Elkem and Hydro,” says Tom Jovik, Principal at Altor.

The transaction is subject to formal approval by all parties and regulatory approvals, including competition authorities.

Press meeting
Elkem CEO Helge Aasen, Hydro CEO Hilde Merete Aasheim and Altor principal Tom Jovik will together present the partnership and be available for questions in a press meeting today at 10:00-10:45 at Vækerø Hovedgård (Drammensveien 256, 0277 Oslo, Norway). Please sign up in advance via Maria Melfald Tveten (Maria.Tveten@hydro.com).

For further information, please contact:
Tor Krusell, head of Communcation Altor: +46705438747

About Vianode
Vianode, founded in 2021, is a producer of sustainable battery materials. The company is built upon technological advancements and experience developed over several years. Vianode’s range of synthetic graphite products offers unique performance characteristics and are produced with significantly lower CO2 emissions than today’s standard materials – supporting the ambitions of leading battery cell and automotive manufacturers. An investment decision for a potential first-phase battery materials plant at Herøya, Norway, is expected in the first half of 2022. Vianode is backed by Elkem (40%), Hydro (30%) and Altor (30%). www.vianode.com

About Altor
Since its inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 75 companies. The investments have been made in medium-sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are H2 Green Steel, OX2 and Helly Hansen. For more information visit www.altor.com

About Elkem
Elkem is one of the world’s leading providers of advanced material solutions shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,000 people has a joint commitment to stakeholders: Delivering your potential. In 2021, Elkem obtained a Platinum score from EcoVadis, which rated the company among the world’s top 1% on sustainability transparency, and the company achieved an operating income of NOK 33.7 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK). www.elkem.com

About Hydro
Hydro is a leading industrial company that builds businesses and partnerships for a more sustainable future. We develop industries that matter to people and society. Since 1905, Hydro has turned natural resources into valuable products for people and businesses, creating a safe and secure workplace for our 31,000 employees in more than 140 locations and 40 countries. Today, we own and operate various businesses and have investments with a base in sustainable industries. Hydro is through its businesses present in a broad range of market segments for aluminium, energy, metal recycling, renewables and batteries, offering a unique wealth of knowledge and competence. Hydro is listed on the Oslo Stock Exchange (ticker: NHY). www.hydro.com

Author: Katarina Karlsson
Date: 2022.04.06
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Audax Private Equity Announces Strategic Investment in Flow Control Holdings

Audax Group

Audax Private Equity (“Audax”) today announced it has completed a strategic growth investment in Flow Control Holdings (“FCH” or the “Company”), a premier provider of sanitary flow components to producers of foods, beverages and pharmaceuticals. Financial terms of the transaction were not disclosed. Phil Pejovich, CEO of FCH, will continue to lead the Company alongside the existing management team.

Based in Chicago, FCH specializes in providing highly engineered sanitary and high purity flow components (e.g. fittings, valves, hoses, pumps, and other components) for market-critical applications within the food, beverage and pharmaceutical industries around the world. The Company’s brands and products, including Steel & O’Brien and Ace Sanitary, encompass a broad assortment of highly engineered sanitary and high purity flow control components and services.

Mr. Pejovich said, “We are thrilled to have the backing of an experienced partner like Audax. With their support, we will be well-positioned to continue to expand our best-in-class portfolio of highly engineered flow control solutions to better serve our customers, suppliers, and employees.”

“We are excited to work with Phil and the management team at FCH. Under their leadership, the Company has differentiated itself in a large and highly fragmented market by establishing a broad portfolio of comprehensive solutions,” said Ryan Bruehlmann, Managing Director at Audax Private Equity. “We look forward to leveraging our prior experience to drive growth both organically and through strategic M&A.”

Don Bramley, Managing Director at Audax Private Equity, added, “FCH has built a solid business that is underpinned by a strong, dedicated sales team and a growing customer base. The Company is well-positioned to continue its strong momentum with our support.”

Baird served as financial advisor to Audax and KPMG served as financial advisor to FCH. Ropes & Gray served as legal counsel to Audax and Dentons LLP served as legal counsel to FCH.

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CVC and Greenbriar announce recapitalisation of Radwell International

CVC Capital Partners

CVC and Greenbriar to support continued rapid growth and expansion

CVC Capital Partners VIII (“CVC Fund VIII”), has invested in Radwell International, LLC (“Radwell” or the “Company”), a global distributor of new and surplus industrial automation components. CVC Fund VIII is acquiring an interest in the Company from founder & CEO Brian Radwell and Greenbriar Equity Group, L.P. (“Greenbriar”), both of whom will remain significant shareholders going forward. Financial terms of the private transaction were not disclosed.

Founded in 1979, Radwell is a leading specialty distribution and light manufacturing business that provides new and refurbished industrial automation components for the repair and maintenance of production and processing equipment on plant floors. The Company focuses on the aftermarket for mission-critical components and is dedicated to keeping customers’ facilities operating efficiently. Headquartered in Willingboro, NJ, the company operates nine facilities in the United States, Canada, United Kingdom and Germany.

The investment from CVC Fund VIII will support Brian Radwell and the management team in executing against their multi-year expansion program focused on domestic and international growth as well as selective M&A opportunities across the business’s geographies and product sets.

Brian Radwell, President and CEO of Radwell, commented, “We have truly enjoyed working with Niall McComiskey and the Greenbriar team and are thrilled that they have reinvested in Radwell. Our partnership with Greenbriar enabled Radwell to significantly accelerate growth and innovation which allowed us to scale rapidly. We are also very excited to bring on CVC as a new partner, whose global resources and experience building businesses will enable us to pursue new avenues of growth in the US and worldwide. CVC’s values are fully aligned with our business and I am confident that we have chosen the perfect partner for the next stage of our development.”

James Christopoulos, Senior Managing Director at CVC, said, “Radwell is a fantastic business which has evolved into a leader, well-known for providing its customers with a unique and critical service. We value its employee-centric culture focused on continuous improvement and are delighted to partner with Brian and his excellent team. We look forward to supporting the next stage of Radwell’s growth domestically, internationally and through strategic acquisitions.”

Niall McComiskey, Managing Partner at Greenbriar, said, “Radwell is an incredibly special business and we are honoured to have supported Brian and the Radwell team as their first institutional partner. The Radwell team has built a market-leading automation MRO platform that is underpinned by unparalleled proprietary data and a passionate team with deep technical expertise. We are proud of our partnership with the management team, and we are excited to support the next chapter of growth alongside Radwell and CVC.”

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