Riverside acquires European Panel Company

Following the transaction, Riverside will hold just over two thirds of the business, a source close to the matter said. The deal is said to be worth less than €250m.

The GP intends to boost the company's production and expand its sales force, aiming to strengthen the group's reputation, mainly in France and the Benelux region, where it is already well established.

The deal was sourced by Riverside vice-president Jeroen Lenssen, the GP said in a statement. Financial details of the transaction were not disclosed.

The acquisition was made through buyout fund Riverside Europe Fund V (REF V), for which the GP announced in January it had raised "at least" €125m.

Debt
Senior debt for the transaction was provided by CBC Banque and Belfius, with a leverage representing about 40% of the deal value. 

Company
EPCO makes sandwich panels and overhead door panels for residential, commercial and industrial use. The panels are typically metal skins around a polyurethane foam core, and are finger safe.

The company owns an automated manufacturing plant in Tournai, located in the Belgian region Wallonia.

People
Riverside – Karsten Langer (partner); Damien Gaudin, Jeroen Lenssen (vice-presidents).

Advisers
Equity – Advocatenkantoor Parmentier (legal); Deloitte (financial due diligence); Allen & Overy (legal).
Munich Strategy Group (commercial due diligence).
Vendor – NautaDutilh (legal); Abundanza Corporate Finance (corporate finance).

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• Topics
• Benelux
• Buyouts
• Industrials
• Benelux
• Belgium
• Riverside