Holland and Dolfin sell Esdec to Gilde

Financial details of the transaction remain undisclosed, though Gilde invests in companies with enterprise values of €75-500m, with typical investments being in the €100-250m range. It provides equity cheques of up to €160m per transaction.

During the vendors' holding period, Esdec invested in product development, started construction on a new research and development facility, and tripled its headcount. It also hired sales managers across the EU and US to boost its international revenues.

Under its new ownership, the company will continue to invest in product development and international expansion.

Gilde is currently investing from its fifth fund, a €1.1bn vehicle that held its final close in November 2015.

At the time of publication, Unquote was awaiting a response from Gilde to a request for details of the deal valuation and debt related to the transaction. It was also awaiting a response from Holland Venture to a request for details of returns generated from the sale.

Previous funding
Holland Venture and Dolfin acquired Esdec in a management buyout in June 2015. Holland Venture has an investment range of €250,000-6m while Dolfin invests €500,000-5m.

Company
Founded in 2004 and headquartered in Deventer, Overijssel, Esdec produces and installs mounting systems for solar panels.

People
Holland Venture – Hubert Verbeek (managing partner).
Gilde Buy Out Partners – Maurits Boomsma (partner).
Esdec – Stijn Vos (CEO).

Advisers
Company – Deloitte (corporate finance).

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• Topics
• Buyouts
• Exits
• Benelux
• Industrials
• Netherlands
• Gilde Buy Out Partners
• Secondary buyout
• Deloitte