Borromin-, Kempen-backed Wilvo acquires GFM

The add-on is intended to enhance Wilvo's product portfolio, expanding on its turning and milling components offering.

The acquisition was financed in part via an additional equity contribution from Borromin.

Borromin (formerly Steadfast Capital) and Kempen Capital acquired Netherlands-based Wilvo in May 2019 in a deal valued at €50-100m. The company's management retained a 30% stake in the business. The GPs said in a statement at the time that they intended to support the company's organic growth, as well as its growth via add-ons.

Borromin invested via its fourth fund, which held a final close on €297m in 2019. The fund was 37% deployed as of January 2020 and made its latest platform investment in August 2019, acquiring Netherlands-based groundwater purification company Koop Group.

Kempen invested in Wilvo via Kempen European Private Equity Fund, which held a final close in December 2019 on €192.5m.

ABN Amro and Robeco's Dutch Loan Fund provided a senior debt package to support the original buyout.

Company
Metalworking company GFM produces turning and milling components for machine builders used in the medical, packaging, mechanical engineering and semiconductor industries. Founded in 1992 by the Guedens family, the company is headquartered in Bergeijk and employs 39 people.

People
Borromin – Nick Money-Kyrle (founding partner).
Kempen – Sven Smeets (co-head private markets); Bram Bikker (director).
Wilvo – Rob Lemmens (chief commercial officer).

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• Topics
• Expansion
• Benelux
• Industrials
• Build-up
• Acquisition finance
• Netherlands
• Steadfast Capital GmbH