Gilde's Raak Metals buys Stolwerk Metaal

Gilde acquired a majority stake in Raak in February 2020 via GEM Benelux Fund IV, which held a final close in November 2017 on €300m. The fund targets businesses with enterprise values of €20-200m.

Stolwerk is the first add-on acquisition during the investment period; the deal was financed with both debt and equity.

Following the acquisition, Raak is projected to produce more than €40m in revenues in 2020, according to a statement.

Company
Stolwerk is a metal recycling company based in Breda, the Netherlands. The company collects metals to recycle via container services and demolition projects. Founded in 1967, the company was formerly owned by the Stolwerk family. It employs 25 people and reported 2019 revenues of €15m.

People
Gilde Equity Management – Gerhard Nordemann (managing partner).
Raak Metals – Maarten van Raak (CEO).
Stolwerk Metaal – Ronald Stolwerk (CEO).

Advisers
Acquirer – Corp (legal); EY (financial due diligence); JSA (tax).
Vendor – Rassers Advocaten (legal); Van Oers (corporate finance).

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• Topics
• Expansion
• Benelux
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• Acquisition finance
• Build-up
• Benelux
• Gilde Equity Management Benelux