Gimv sells Brakel via trade sale

Gimv bought a 75% stake in the company in 2015. The GP stated that over the entire holding period, the investment in Brakel generated a return above Gimv's long-term average return.

Kingspan is an Ireland-based insulation manufacturer founded in 1965, with revenues of €3.11bn and an EBITDA of €404.1m in 2016. Headquartered in Kingscourt, the group has operations in the UK, Ireland, the Netherlands, Germany and central Europe, and employs 11,000 staff globally.

Previous funding
Nordian became a shareholder in Brakel in March 2011. The transaction, valued at a reported €45m, saw Nordian carve the business out from Irish parent CRH alongside the management team.

In December 2015, Gimv acquired a 75% stake in Brakel. The management team, who were shareholders prior to the deal, increased their previous minority stake. The deal was leveraged at a "moderate level", according to an unquote" source at the time.

In June 2016, Brakel acquired Argina Technics in a bolt-on transaction with support from Gimv's listed vehicle Gimv NV. Following the deal, the GP held around two thirds of the share capital in the combined group, with the balance going to management. 

Company
Headquartered in Uden and founded in 1977, Brakel operates in the Benelux region and the UK in the field of glass daylight constructions (glass roofs and skylights), ventilation systems (top hung windows and flap ventilators) and fire safety systems (fire detection, smoke and heat extraction installations) in commercial and industrial buildings.

People
Brakel – Ton van Gerwen (CEO).  
Gimv Sustainable Cities platform – Rombout Poos (principal). 

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• Benelux
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• Netherlands
• Gimv
• Nordian Capital Partners