Parcom Capital takes majority stake in MGG Group

Company management is also investing alongside Parcom as part of the deal. The GP buys 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.

The Parcom investment is intended to provide MGG the opportunity to expand its activities, the company said in a statement.

Previous funding
LIOF had been a part-owner of MGG since 2010. Other shareholders included entrepreneurs Paul Hendriks and Emiel Van Dommelen, through the investment vehicle ECF, Mergermarket reported.

Company
MGG specialises in aluminium sand-casting. It supplies various assemblies from sand-casting for commercial vehicles, heat exchangers and various other applications. Sand-casting, also known as sand-moulded casting, is a metal casting process characterised by using sand as the mould material.

Established in the early 1950s and based in Telegen, the Netherlands, the company currently generates annual revenues of approximately €100m.

People
Parcom Capital – Gijs Vuursteen (partner).

Advisers
Equity – Goetzpartners (corporate finance).

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