Riverside backs E&A Scheer MBO

The Riverside Company acquired a majority stake in the business, drawing equity from its Riverside Europe Fund V, closed on $340m in 2017, Unquote understands. 

The main sellers were E&A Scheer’s founding families, a person familiar with the situation told Unquote. The management team, a partial owner of the business prior to the transaction, retained a similar stake in E&A Scheer. 

The deal was sourced via a sell-side adviser, Unquote understands.

Debtwire, Unquote's sister publication, reported in November lat year that E&A Scheer was being marketed based on an EBITDA in the €7-10m range.

Financing for the transaction was provided by Blackrock and Rabobank, according to a statement.

The Riverside Company, which has offices in Brussels, previously invested in the Benelux region backing Alter Pharma in 2017 and European Panel Company in 2016, according to Unquote Data. 

Company
With origins dating back to 1712, Scheer specialises in the sourcing and custom blending of rum. Scheer’s blending operation is located in Amsterdam and aging facilities reside in Liverpool, where its subsidiary the Main Rum Company is located.

The business connects the output of rum distilleries with rum brand owners. Its inventory includes high-quality rums, cachaças and Batavia arracks sourced from around 25 countries.

People
The Riverside Company - Damien Gaudin (principal).
E&A Scheer - Carsten Vlierboom (managing director).

Advisers
Equity - Allen & Overy (legal); Advocatenkantoor Parmentier (legal); Deloitte (financial due diligence, tax); Bain & Company (commercial due diligence); PwC (debt advisory).
Company - Rabobank Corporate Finance (corporate finance); CORP (M&A). 

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