Capiton backs Gemaco's MBO

According to a statement, the GP acquired a controlling stake in the business via an off-the-market transaction from the owning family office Saffelberg Investments, while the management team retained the balance of shares.

The company's management team aims to use the capital injection to bolster international expansion, which will also include bolt-on acquisitions.

The deal marks the fourth investment for the GP's fifth vehicle, the 2014-vintage fund Capiton V, which hit a final close on its €440m hard-cap in January 2015. Capiton leveraged its investment with the use of an undisclosed debt package.

Company
Established in 1973, Gemaco provides marketing services, including brand promotions, fulfilment programmes and promotional merchandising.

The company is headquartered in Mechelen and has 13 offices across Germany, France, the Netherlands, the UK, Switzerland, Poland, Italy, Spain, Portugal, China, the US, Mexico and Brazil.

The business employs 290 people and posted a turnover of €90m in 2016.

People
Capiton – Andreas Kogler, Manuel Hertweck (managing partners).
Gemaco Group – Olivier Somers (chair); Alex De Geus (CEO).

Advisers
Equity – CIL (commercial due diligence); EY (financial due diligence, tax); CMS (legal); Tauw (ESG).

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