NewPort Capital closes maiden buyout fund on €90m

The vehicle held its final close last month and has comfortably exceeded its original target of €50m.

At the time of the fund's announcement in September 2017, the vehicle had already secured €50m in commitments exclusively from Dutch investors.

Subsequently, via London-based placement agent FirstPoint Equity, the GP attracted international LPs, a spokesperson for NewPort Capital confirmed to Unquote. 

The firm underlined in an announcement its plans to originate and execute proprietary investments.

Investors
The fund attracted commitments from a combination of Dutch entrepreneurs and family offices, as well as four institutional investors based in Germany, Scandinavia and the US, Unquote understands. 

The NewPort team also backed the fund.

Investments
NewPort Buyout Fund I will target companies operating in the manufacturing, business services, financial services, food and packaging sectors. The businesses, all based in the Netherlands, could already have started an international expansion by the time they are backed by NewPort.

The fund will target businesses with an annual operating profit ranging between €2-7m and an enterprise value in the €10-50m range. 

The GP will look into acquiring majority stakes exclusively, providing equity tickets in the €5-15m range. 

The vehicle has completed three investments to date: Cow Hills Retail is a supplier of international omnichannel software services for the retail industry; Clifford Electronics Benelux provides automotive telematics and technology-based safety & security services in the Netherlands, Belgium and Luxembourg; and Lamme Textile Management is a textile services industry specialist, providing both industrial laundry services and linen supply (rental and sales) to customers in the international airline industry, hospitality and food & beverage markets.

People
NewPort Capital – Rob van der Laan (founder, managing partner); Melvin Sie, Dennis Hofmans (investment directors).

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• Topics
• Funds
• Buyout
• Benelux
• Netherlands