IK Investment Partners agrees acquisition of Vemedia

The auction process was run by ING and Michel Dyens. Damier NV (controlled by Vemedia's CEO), Indufin Capital Partners and Leeward Ventures are the selling shareholders and owned 78.4% of the company prior to the sale agreement. IK already owns a 21.6% stake in Vemedia. The offer is based on a share price of €2.80.

Following the acquisition, Vemedia will be able to develop its product range and explore new markets.

In July 2008, Vemedia received acquisition finance support from an equity and mezzanine syndicate including Indufin, KBC Private Equity and Leeward Ventures Managament. Dexia, KBC and Rabobank provided debt for the transaction valued at less than €25m.

Company
Vemedia is a supplier of over-the-counter pharmaceuticals and vitamins. It concentrates on sleep-inducing and calming products. The company is based in Kortrijk and generates around 80% of its sales in the Netherlands and Belgium. Its next largest distribution markets are Spain, Italy and Portugal. The company was founded in 2002.

In the past six years, Vemedia has acquired 10 companies.

People
Remko Hilhorst, partner and fund adviser, led the deal on behalf of IK. Yvan Vindevogel is CEO and majority shoreholder of Vemedia.

Advisers
Equity – Bank Degroof (Corporate finance). 

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