Committed Capital invests in MR Marine Group

"We were referred to the company by a trusted adviser," Daan Freriks told Unquote. "We had a strong connection with the founder, who knew the envisaged new CEO well."

Committed Capital plans to assist the company with its growth plans and the expansion of its services, according to a statement.

"We focus on companies that want to transition to being a management-led company on a day-to-day basis, so MR Marine Group was a perfect match for our strategy," said Freriks. "We look at companies that are fast-growing in any sector that need support in attracting the right people and managing the growth, while keeping the founder on board."

Committed Capital has secured bank financing for the deal.

MR Marine Group is the GP's second investment from its third fund, which held a final close in January 2020 on €55m, as reported. The fund plans to make 8-10 platform investments and targets Netherlands-based companies with enterprise values of €5-30m that report EBITDA of €1-5m and revenues of at least €5m.

Committed Capital acquired ID-ware in May 2020, as reported.

Company
MR Marine Group provides services for ships and marine vessels, including inspections, certifications and maintenance for marine elevators. It also provides spare parts and ballast water treatment systems. Based in Rotterdam, the company was founded in 2002 and provides services in 134 ports globally, working with 150 engineers. MR Marine Group has 30 employees and has seen double-digit top-line growth in recent years.

People
Committed Capital – Albert van der Wal (partner); Daan Freriks (investment manager).
MR Marine Group – Nick Bosch van Rosenthal (founder); Karel Peters (CEO).

Advisers
Equity – De Breij (legal); JSA (tax); Sincerius (financial due diligence).

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