Terra Firma invests in Equistone's Sportgroup

Further details of the transaction have not been disclosed except that it is the first investment of its type made by Terra Firma.
The new funding will be used to support the company's recent acquisition of Astroturf. Terra Firma will provide further strategic support and advice but will not be involved in an operational capacity.

Under Equistone's ownership, Sportgroup has made five acquisitions and expanded its revenues from €280m to €500m.

Previous funding
Current owner Equistone purchased Sportgroup for an undisclosed sum from IK Investment Partners in April 2015.

Sportgroup was created as the result of a buy-and-build strategy after the acquisitions of Polytan in 2003 and Melos and PolyComp in 2004 by ECM. ECM then sold 100% of the new company to IK with debt provided by Nordic Mezzanine and Dresdner Kleinwort for an undisclosed sum in 2006.

Company
Founded in 2003 and based in Burgheim, Sportgroup is a manufacturer of artificial turf systems and synthetic floor coverings. The company employs around 1,000 people and generates a turnover of €500m.

Advisers
Equity – Shearman & Sterling (legal).
Debt – Milbank Tweed Hadley & McCloy (legal).

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• Topics
• Expansion
• DACH
• Industrials
• Germany
• Investor Growth Capital
• Equistone Partners Europe
• Terra Firma