Active Capital Company acquires Codi Group

The vendor had been the majority owner of Codi since 2013. The deal will see Active take a majority stake, with the company's management remaining as minority shareholders.

Active typically invests in medium-sized companies based in the Netherlands that operate within the industrial goods and services and technical wholesale sectors.

The acquisition of Codi comes shortly after Active closed its third buyout fund with €45m in commitments, a step up from the fund's predecessor, which had a €30m target. The fund will focus on companies with revenues of €10-80m. The fund was largely funded by returning investors, with a mixture of institutional investors and entrepreneurs.

Earlier this year, Active sold its stake in non-woven fabrics maker Lantor to Cathay Investments. Current portfolio companies include Food Technology Noord Oost and Hendrik Veder Group, among others.

With Active's support, Codi, which currently employs 60 people and generates €60m of revenues, is hoping to increase its sales to €100m. It will consider external acquisitions, according to the GP.

Previous funding
In July 2013, Value Enhancement acquired Codi for an estimated €9.2m. The company has also been backed by Gilde Investment Management and ABN Amro Bank, who invested in it in 2001, according to unquote" data.

Company
Founded in 1978 and based in Veenendaal, the Netherlands, Codi Group manufactures wet wipes for personal and household use. Since 2013, Codi Group (previously known as Cogitandum) has been managing three subsidiaries: Codi International, Incare Wet Wipes and Sweeps.

The company currently employs 180 people and generates a €60m turnover.

People
Active Capital Company – Mels Huige (partner); Victor Schols (investment director). 

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• Topics
• Buyouts
• Exits
• Benelux
• Consumer
• Benelux
• Secondary buyout