Gilde buys majority stake in Eichholtz

Eichholtz posted an EBITDA of approximately €30m, according to a report by Unquote sister publication Mergermarket earlier this month.

The auction process was controlled, with a select pool of candidates, a source close to the situation disclosed to Mergermarket. The vendor was angling for a valuation of at least 8x EBITDA (€240m) for Eichholtz.

Gilde is currently investing via its €1.1bn Gilde Buy Out Fund V fund, which closed in 2015. The vehicle deploys equity tickets of €30-120m in deals with enterprise values of between €100-250m.

The GP will help the business to accelerate its growth via international expansion, particularly in the US and Asia.

Company
Eichholtz is a designer and wholesaler of luxury furniture, lighting and accessories, selling to corporate clients. The company's in-house design team creates individual luxury furniture pieces.

The company services around 5,000 customers in retail, interior decoration and real estate, and has furnished hotels, restaurants, clubs and stores globally. Founded in 1992, the business is based in Noordwijkerhout and employs 130 people.

People
Eichholtz – Theo Eichholtz (founder).

Advisers
Vendor – Rothschild & Co (corporate finance); Van Doorne (legal); KPMG (financial due diligence); Bain & Company (commercial due diligence).
Equity – De Brauw Blackstone Westbroek (legal); Clifford Chance (legal); PwC (financial due diligence); BCG (commercial due diligence).

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• Topics
• Buyouts
• Benelux
• Consumer
• Netherlands
• Gilde Buy Out Partners