M&A Deal Summary

Rivean Capital, Parcom Capital and Capital A Acquire TenCate Protective Fabrics

On July 20, 2015, private equity firms Rivean Capital, Parcom Capital and Capital A acquired apparel/textiles company TenCate Protective Fabrics for 675M EUR

Acquisition Highlights
  • This is Rivean Capital’s 2nd, Parcom Capital’s 3rd and Capital A’s 3rd transaction in the Apparel/Textiles sector.
  • This is Rivean Capital’s 0th, Parcom Capital’s and Capital A’s 0th largest (disclosed) transaction.
  • This is Rivean Capital’s 1st, Parcom Capital’s 2nd and Capital A’s 1st transaction in the United States.
  • This is Rivean Capital’s 1st, Parcom Capital’s 1st and Capital A’s 1st transaction in Georgia.

M&A Deal Summary

Date 2015-07-20
Target TenCate Protective Fabrics
Sector Apparel/Textiles
Buyer(s) Rivean Capital
Parcom Capital
Capital A
Deal Type Going Private
Deal Value 675M EUR

Target

TenCate Protective Fabrics

Union City, Georgia, United States
TenCate Protective Fabrics designs, develops, manufactures, sources and sells fabrics used by garment makers for high-performance (protective) clothing. The fabrics provide protection against flame, heat, molten metal, chemical and other acids, achieved by strong know-how in blending fibres to incorporate, often patented, functionalities. TenCate Protective Fabrics is based in Union City, Georgia.

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Buyer(S) 3

Buyer

Rivean Capital

Amsterdam, Netherlands

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Gilde Buy Out Partners (GBO) is unit of Gilde Investment Management, a Dutch private equity group. Gilde Buy Out Partners (GBO) targets investments in larger businesses valued from €75 and €600 million with at least €8 million in cash flow. Broad sectors of interest include services, consumer goods, manufacturing, and industrial products. GBO looks for investments across Western Europe, with an emphasis on opportunities in Belgium, The Netherlands, Luxembourg, France, Germany, Switzerland and Austria. Gilde was formed in 1982 and has offices in Utrecht, Paris, Brussels, and Zurich.


DEAL STATS #
Overall 41 of 76
Sector (Apparel/Textiles) 2 of 2
Type (Going Private) 4 of 6
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-12 Ammeraal Beltech

Heerhugowaard, Netherlands

Ammeraal Beltech is a manufacturer, distributor and services conveyor belts for a diverse range of applications in light industries, including food processing, automotive, logistics and textiles. Ammeraal Beltech was founded in 1964 and is based in Heerhugowaard, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-23 AXA Stenman Industries NV

Veennendaal, Netherlands

AXA Stenman Industries NV is a manufacturer of safety and security products.

Sell €185M
Buyer

Parcom Capital

Amsterdam, Netherlands

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Parcom Capital is a Dutch middle-market private equity group focused on opportunities in the Netherlands. The Firm targets companies with €50 to €500 million of revenue and €10 to €50 million of EBITDA. Sectors of interest include oil & gas, industrial, distribution, and manufacturing. Parcom Capital operates as a subsidiary of financial services firm ING and is based in Amsterdam.


DEAL STATS #
Overall 20 of 43
Sector (Apparel/Textiles) 3 of 4
Type (Going Private) 2 of 2
State (Georgia) 1 of 1
Country (United States) 2 of 2
Year (2015) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-08 MAIN Energie BV

Amsterdam, Netherlands

MAIN Energie BV is a provider of energy to the corporate market providing 100% green electricity and gas to its clients. MAIN Energie supplies c. 50,000 connections with electricity and gas and has a strong focus on customer service through its experienced sales force and specific solutions for insights in energy consumption and flexible billing structures. MAIN Energie was established in 2003 and is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-31 Qizini Losser B.V.

Losser, Netherlands

Qizini Losser B.V. is the Benelux market leader in freshly packed sandwiches, wraps, roles and ready-to-heat products such as panini and toasted sandwiches.

Sell -
Buyer

Capital A

Amsterdam, Netherlands

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Capital A Investment Partners is a private equity firm specializing in management buyouts, management buy-ins, expansion/growth financing, shareholder replacement, and turnarounds. Capital A Investment Partners targets mid-sized Dutch companies invest in mature companies with positive and consistent cash generation that belong to the top of their sector. Capital A Investment Partners invest across all sectors. The Firm typically invests in a broad range of industry sectors with an investment of €5 - €50 million per transaction.


DEAL STATS #
Overall 40 of 72
Sector (Apparel/Textiles) 3 of 4
Type (Going Private) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2015) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-08 Acertys Healthcare

Aartselaar, Belgium

Acertys Healthcare is an organisation active in consulting, sales, integration, training and technical support in the fields of medical technology, software, equipment and materials for selected fields in both public and private healthcare practices. Acertys Healthcare is based in Aartselaar, Belgium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-29 Claymount Assemblies BV

Dinxperlo, Netherlands

Claymount Assemblies BV is a manufacturer of high-voltage cable connection systems and system components for X-ray equipment manufacturers serving both healthcare and industrial applications.

Sell €50M