Mentha buys Fri-Jado

Fri-Jado was previously in the portfolio of companies owned by TBI Techniek, a Dutch holding company for technical services and construction businesses. TBI employs 8,000 staff overall and generated almost €2bn in turnover last year.

TBI has retained a minority shareholding in the company. ABN Amro has provided a debt package to support the deal.

Mentha recently held an interim close for its Mentha Capital Fund IV (MCF IV) on €70m in August, having held a first close on €51m in February. The fund has a target of €100m and a hard-cap of €120m.

MCF IV invests in the lower end of the mid-market, with a typical equity ticket from the fund sitting between €5-15m in companies with enterprise values of €15-75m, revenues of €25-75m and EBITDA of €2-10m.

Company
Founded in 1937, Fri-Jado is headquartered in Etten-Leur with an office in nearby Moordrecht, and international offices in Illinois in the US, Middlesex in the UK, and Shanghai in China. The company is a manufacturer of equipment for the food service and retail industries. Its business is split into three operations.

Fri-Jado Euro Products is a manufacturer of equipment designed for use in the preparation, storage and merchandising of hot and cold food products. Products include commercial rotisseries, bakery ovens and combi-steamers.

Fri-Jado Retail installs refrigeration and freezer units in supermarkets, serving the Dutch, Belgian and Czech markets. The company also provides consultancy services regarding maintenance and engineering of the products.

Fri-Jado Super Service provides maintenance services for professional equipment used by retailers, large kitchens and catering companies.

Overall, the company employs 500 staff. It reportedly generates €100m in turnover.

People
Gijs Botman is the managing partner of Mentha.

Advisers
Equity – De Breij Evers Boon (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

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