Torqx buys Diamond Tools Group

Financial details were not disclosed, beyond the fact that Torqx secured a majority stake in the buyout of DTG. The investor stated it was attracted by DTG's market position, its track record and its team.

Newcomer Torqx manages one fund, Torqx Capital Partners Fund I; the vehicle was launched in 2017, with a target size of €150m. The fund seeks to make 10-12 investments in medium-sized companies in Benelux.

This is the second deal from Torqx Fund I, following the buyout of motorcycle parts wholesaler Hoco Parts in September last year.

Company
With roots going back 100 years, DTG manufactures diamond cutting and printing tools, as well as diamond wire dies. The company is headquartered in Valkenswaard, the Netherlands, and operates further facilities in countries including Spain, the UK, the US and China. It employs around 460 staff.

According to publicly available documents, DTG posted a €40m turnover in 2016, in line with the previous five-year period. It made an operating loss of €3,000 that year, although the company used to generate between €2.5-3.5m in operating profit annually prior to that.

People
Torqx Capital Partners – Harmen Geerts (managing partner); Marnix Berger (partner).

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• Topics
• Buyouts
• Benelux
• Industrials
• Netherlands