Parcom's MGG Group buys Eurotech
Parcom Capital-backed Dutch aluminium castings developer MGG Group has announced the acquisition of Eurotech Benelux.
The acquisition is said to bring MGG's consolidated revenue to around €250m. At the time of Parcom's investment in early 2017, revenues were approximately €100m.
Netherlands-based GP Parcom acquired a majority stake in MGG in Q1 2017. The company's management team also invested alongside Parcom as part of the deal. The GP bought its stake from Limburg Development and Investment Company (LIOF), the private equity arm of the Dutch province of Limburg, as majority owner in the group. LIOF had been a part-owner of MGG since 2010.
MGG specialises in aluminium sand-casting – a metal casting process characterised by using sand as the mould material. MGG was established in the early 1950s and is based in Telegen.
Company
Eurotech designs and manufactures engineered products including steel castings, forgings, various steel fabrications, bollards and marine fenders. It targets the marine, civil engineering, lifting, dredging and offshore industries. Founded in the late 1990s, the company is headquartered in Eersel.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater