Bolster backs buyout of Esschert Design

Esschert is the first investment Bolster has made directly from its new fund after spinning out of private bank Van Lanschot in late 2017. However, the previous four investments will also be transferred to the new vehicle.

The latest fund hit its hard-cap of €160m in February 2018 after holding a first close on €135m in December 2017. It expects to make 12-15 investments in total and is not yet 50% deployed, Unquote understands.

Esschert generates revenues of approximately €40m and employs 120 people. Bolster plans to support the company in both its organic and acquisitive growth.

Company
Esschert was founded in 1990 and is headquartered in Enschede. It designs furniture and accessories for gardens, including outdoor fire places, watering cans and candles. All its products are designed in-house and produced in factories that work exclusively with Esschert. Its products are sold in 65 countries.

People
Bolster Investment Partners – Mark Van Rijn (partner); Hanneke Modderman (investment manager).
Esschert Design – Arend Mosterd (CEO).

Advisers
Company – Marketlink (corporate finance).
Equity – Alvarez & Marsal (financial due diligence); De Breij (legal).

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• Topics
• Buyouts
• Benelux
• Consumer
• Netherlands