Mentha takes majority stake in petrol supplier Nefco

As a result of the transaction, Mentha will hold a majority stake in the company while the founder and CEO will keep a minority stake.

The investment was made via the firm's fourth buyout fund, Mentha Capital Fund IV (MCF IV), which held a final closing at €107m in March 2015 ahead of its €100m target. The vehicle targets the lower end of the mid-cap buyout market in the Benelux region.

Details of the transaction were not disclosed by the firm, but the firm is rumoured to have paid between €5-15m for its share in the company, according to Real Deals. Mentha Capital invests equity tickets between €5-20m. 

With Mentha's backing, Nefco will continue expanding its business activities in the Netherlands and surrounding countries. The GP said the founder, CEO and co-shareholder, Linze de Vries, will retain his role and help implement the company's growth strategy with his management team.

Another acquisition was made by MCF IV in late May, when Mentha acquired a majority stake in Belgian B2B telecoms company Destiny.

Company 

Nefco supplies LPG (propane and butane) in the Netherlands, Belgium and Germany, including consumers, petrol retailers and agricultural businesses. Its resources come from a network of Benelux refineries and terminals.

Nefco operates via various subsidiaries, including BK Gas, OK Gas and Nefco Sotrage & Trading.

With a turnover in excess of €200m, Nefco announced EBITDA of €7.3m for 2014.

People
Mentha Capital – Jeroen Quaegebeur (partner). 

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• Topics
• Buyouts
• Benelux
• Industrials
• Mentha Capital
• Netherlands
• Belgium
• Germany