Gilde Equity Management Benelux ("Gilde") is pleased to announce the acquisition of Sovitec from its former shareholder Value Enhancement Partners ("VEP"). Sovitec is the European market leader in the manufacturing of high quality glass beads mainly used as reflective material in horizontal road marking, but also for industrial surface treatment and as additive to provide materials with specific technical properties. The company’s beads are mainly sold to customers located in Europe, and further to customers in Asia and the Americas. Sovitec has its headquarters in Fleurus, Belgium and operating facilities in Belgium, France, Germany, Spain and Argentina. Sovitec realised sales of approximately €42 million in 2011. The acquisition by Gilde is an important step in Sovitec’s growth strategy which focuses on growing sales by expanding its geographic reach and exploring new end-markets with innovative product applications. With Gilde’s commitment to growth it has clearly demonstrated itself to be the preferred partner for Sovitec in this next phase of the company’s development. VEP fulfilled an important role through its strong level of support over the last few years, without which the company was not able to embark on its future strategy. The transaction is subject to customary competition authority approval. Value Enhancement Partners was advised by Deloitte Corporate Finance and NautaDutilh. Gilde was advised by Allen & Overy and PwC Transaction Services. Belfius Bank is the sole arranger of the senior debt in the transaction.
Gilde Equity Management Benelux is a private equity investor, focused on realizing midmarket management buy-outs in the Benelux region, with EUR 500 million of assets under management. Examples of investments include Salad Signature, the leading Benelux salad producer and marketer, owning strong brand names like Delio, Johma and Hamal; Dunlop Protective Footwear, the European market leader in protective footwear operating under the Dunlop brand; HG International, a branded supplier of specialist cleaning products and Actief Interim, one of the largest independent staffing companies in Belgium.
Value Enhancement Partners is a privately owned investment company that manages a EUR 105 million private equity fund raised from a strong institutional investor base. VEP focuses on complex investments in medium-sized companies that undergo a period of change and to which VEP can add value by means of the financial and strategic expertise available within VEP and its network.