Ergon holds EUR 800m final close for Fund V

ECP V was registered as a Luxembourg-domiciled vehicle in May 2021.

The GP now has EUR 2.5bn in AUM, according to a statement.
Houlihan Lokey acted as placement agent for Ergon, while Kirkland & Ellis and Arendt & Medernach provided legal advice.

The vehicle is an Article 8 fund within the SFDR.

Ergon Capital Partners IV (ECP IV) held a final close in March 2019 on EUR 580m against a EUR 500m target, meaning that its successor fund is almost 40% larger.

In addition to its flagship funds, Ergon manages a continuation fund for fire safety business SVT with total commitments of EUR 270m.

Ergon was formed in 2005 and had invested in 34 companies since its inception. The GP has seven offices and employs 25 investment professionals, according to its website.

Investors
Almost all of Ergon’s institutional investors re-upped for ECP V, according to the statement. The fund is backed by entrepreneur families and family offices, as well as asset managers, pension funds, fund-of-funds and foundations. The LP base comprises investors from Europe, as well as Switzerland, the UK, North America and the Middle East.

LPs in ECP IV included fund-of-funds investor Astorius Capital, the European Investment Fund, and Groupe Bruxelles Lambert (GBL), according to Unquote Data.

Investments
ECP V expects to follow the strategy of its predecessor fund, targeting mid-market businesses in the Benelux region, France, Germany, Italy and Spain. It will focus on the healthcare, media, services and leisure, consumer goods and luxury, and niche industrials sectors.

Ergon generally acquires family-owned businesses with the intention of partnering with family owners, management and entrepreneurs.

The fund’s investments to date includes Spain-based maritime satellite communications business Satlink, which the GP acquired in January 2022 at a reported EUR 200m valuation.

ECP IV made nine platform investments, according to Unquote Data. It deployed equity tickets of EUR 25m-75m and has made one exit to date, selling Spain-based medical equipment producer Palex Medical in a EUR 400m SBO to Fremman Capital.

People
Ergon Capital Partners – Wolfgang de Limburg (managing partner).

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