BE Beteiligungen, Novum exit Vulkatec to trade

The company’s management and founding family also sold their shares.

Asked about the sale process, Felix Homann, partner at Novum Capital, told Unquote: “We had incoming interest from strategic buyers, and on the back of that we decided to run a process with Quarton. There was some interest from German and international sponsors, but the fit with Bauder was very good, so they were ahead.”

A source familiar with the situation told Unquote that the company’s margins are above industry standards.

BE Beteiligungen Fonds and Novum Capital bought a 75% stake in Vulkatec in July 2015.  Novum invested via Novum Capital I, which held a final close in February 2017 on €75m. The fund still has equity remaining for one investment. The GPs said in a statement at the time that they intended to support the company’s national and international growth.

Homann also told Unquote that Novum Capital has held a final close for Novum Fund II. Asked about the strategy and the fundraise, he told Unquote: “The new fund will follow a similar strategy to the previous vehicle, targeting deals above €30m EV and around €5m EBITDA. It was a quick process to reach our target of €150m.” Acanthus Advisers acted as placement agent.

Company
The company produces volcanic and igneous building materials, plant substrates and green roof products.

Vulkatec generated revenues of €25m in 2019, compared with €17m in 2014. It is based in Kretz and was founded in 1986. It has a headcount of 75 staff, compared with 50 in 2015.

People
BE Beteiligungen – Rolf Brodbeck, Roland Eschmann (managing directors).
Novum Capital – Felix Homann (partner).

Advisers
Vendor – Quarton (corporate finance); Classen Fuhrmanns and Partners (legal); Taxess (tax).
Acquirer – EY (corporate finance, legal, tax).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• DACH
• Industrials
• Trade sale
• Germany