Benelux buyouts buoyed: largest deal of 2009

The buyout sector has been showing encouraging signs, though it continues to lag behind its growth counterpart. In terms of volume, the Benelux region saw buyout figures remain steady from six to five deals between Q4 2008 and Q1 2009, in marked contrast to other European markets, where figures fell off a cliff. We now know Benelux did not escape this freefall, it merely experienced it later than others, with zero buyouts done in March.

The second quarter is getting off to a stronger start, with two buyouts completed: Gimv and LRM, a venture capital investor, purchased a majority share of Belgian auto parts manufacturer VCST with a EUR10m capital increase. Meanwhile, in the Netherlands, Cyrte Investments completed the purchase of Bol.com in what is the largest deal so far this year, estimated to be EUR100-120m. The investor acquired the online media retailer from German media group Holtzbrinck Networks and Verlagsgruppe Weltbild in an auction set up by Goetz Partners. The company sells books and electronic equipment over the internet and recorded a turnover of EUR224m last year.

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• Benelux
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