Gimv buys Walkro International

ING Bank arranged the sales process for Walkro International. The company will remain as an independent entity within the Monaghan group and will work to strengthen its market position. The investment was made from the balance sheet.

Debt
ING Bank and Rabobank provided a debt structure for the transaction.

Previous funding
Bencis acquired Walkro in March 2004 in an MBO, backed with a debt structure from ING Bank.

Company
Walkro is based in Venlo in the Netherlands with subsidiaries in Belgium and Germany. Established in 1991, the firm is a producer of mushroom substrate. Walkro generated a turnover of €65m in 2010 and an EBITDA of €18m. The company currently employs 250 staff.

People
Peter Kloeck is investment director at Gimv.

Advisers
Equity – IBI (Corporate finance); Norton Rose (Legal); Linklaters (Legal).
Vendor – Allen & Overy (Legal); ING Bank (Corporate finance).

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• Topics
• Benelux
• Buyouts
• Industrials
• Netherlands
• Gimv
• Allen & Overy
• ING