Gimv has invested in Netherlands-based smart electronics producer AME (Applied Micro Electronics).
The GP has acquired a majority stake, with the company’s management and a small number of shareholders retaining a minority stake, a source close to the situation told Unquote. The GP will also take a seat on the company’s board.
The source said that the deal came about via an introduction from advisers and an informal management meeting in summer 2019.
The GP will assist the company with its growth and professionalisation, according to a statement. International expansion will also be considered, the source said, with an initial focus on Germany and a longer-term focus on the US. The source added that international add-on acquisitions may be considered.
Growth is also expected to come from the company’s latest vehicle-to-grid system, to manage the demands placed on electricity networks by electric-car charging, the same source said.
The investment is part of Gimv's Smart Industries platform. The initiative has made 10 investments so far.
AME produces and designs smart electronic components for power conversion, internet-of things technology and sensing. Its products are used in electric vehicles, home appliances, industrial automation, and offshore oil and gas data and monitoring systems.
The company employs 250 people and reports turnover of €40m. It was founded in 1996 and is based in Eindhoven Brainport. The source close told Unquote that the company has reported double-digit revenue growth each year since its inception.
AME (Applied Micro Electronics) – Gerrit van der Beek (CEO).
Company – Lincoln (M&A).
Equity – Vriman (legal); NIBC (corporate finance).
Deal comes a year after Nordic Capital acquired Signicat from Viking Ventures
Fund is larger than its predecessor, Impresa Italia Private Debt I, which raised €70m in 2016
Data software company was valued at $1bn post money in its 2019 round and is now valued at $2.3bn
FVS invests for minority stakes in Italian companies operating in a wide range of sectors