Investment Summary

Middleby Invests In Novy

On July 12, 2021, Middleby invested in consumer products company Novy from Sofindev

Investment Highlights
  • This is Middleby’s 4th transaction in the Consumer Products sector.
  • This is Middleby’s 1st transaction in Belgium.

Investment Summary
Date 2021-07-12
Target Novy
Sector Consumer Products
Investor(s) Middleby
Sellers(s) Sofindev
Deal Type Stake Purchase

Target

Novy

Kortrijk, Belgium
Novy is a manufacturer of cooker hoods and hobs. Novy offers a range that offers a solution for every kitchen situation. Novy was established in 1988 and is based in Kortrijk, Belgium.

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Investor(S) 1

Investor

Middleby

Elgin, Illinois, United States
Category Company
Founded 1888
Sector Manufacturing
Employees10,722
Revenue 4.0B USD (2023)
DESCRIPTION

Middleby designs, manufactures, markets, distributes, and services a broad line of food service equipment used in all types of commercial restaurants and institutional kitchens, food preparation, cooking, baking, chilling, and packaging equipment for food processing operations, and premium kitchen equipment including ranges, ovens, refrigerators, ventilation, and dishwashers primarily used in the residential market. Middleby was founded in 1888 and is based in Elgin, Illinois.

DEAL STATS #
Overall 58 of 74
Sector (Consumer Products) 4 of 7
Type (Stake Purchase) 1 of 1
Country (Belgium) 1 of 1
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 United Foodservice Equipment Group

Zhuhai, China

United Foodservice Equipment Group is a manufacturer of global quality foodservice equipment. United Foodservice Equipment Group was founded in 2001 and is based in Zhuhai, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-24 Imperial Range

Corona, California, United States

Imperial Range is a manufacturer of ranges, fryers, ovens, countertop equipment, and other specialty cooking products for the commercial kitchen. Imperial Range was established in 1957 and is based in Corona, California.

Buy -

Seller(S) 1

SELLER

Sofindev

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 600M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

Sofindev Private Equity is a private equity firm focused on providing equity and subordinated debt to fund company expansions as well as buyouts of Belgian based companies. The Firm will consider both majority or minority positions and targets profitable companies with at least €10 million of revenue. Sofindev does not have any stated sector preferences and generally seeks companies exhibiting growth potential, with strong management, and potential to add value. Sofindev was established in 1991 and is based in Diegem, Belgium.

DEAL STATS #
Overall 7 of 11
Sector (Consumer Products) 2 of 2
Type (Stake Purchase) 1 of 1
Country (Belgium) 7 of 11
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-23 Altebra

Waregem, Belgium

Altebra is a specialist in fire protection, Altebra has more than 30 years of experience in design, prefabrication, installation and maintenance of sprinkler and foam extinguishing systems. Altebra was founded in 2011 and is based in Waregem, Belgium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Loyals Group

Mijdrecht, Netherlands

Loyals Group is a full-service brand building and digital transformation agency. Its customers include many small and medium-sized companies, but also (semi) government institutions. Loyals Group is based in Mijdrecht, Netherlands.

Buy -
Mergr

Product

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