Riverside sells Repa to Berkshire-backed PT Holdings

Berkshire Partners acquired PT Holdings (known commercially as Parts Town) in a recapitalisation in June 2016. Leonard Green & Partners joined the company's investment base in November 2021.

The company was expected to post revenues of USD 1.2bn in 2021 and was reviewing add-on targets, CEO Steve Snower told Unquote sister publication Mergermarket in November last year.

Snower will lead the combined entity, while Repa CEO Alexander Wiegand will continue to lead the Repa's European operations.

Riverside invested in Repa (then known as TEV) in October 2016. The GP deployed equity via Riverside Europe V, which held a final close in September 2017 on EUR 340m. The fund was fully deployed as of March 2021. Its other realisations include Belgium-headquartered RE Panels, which it sold to THI Investments in September 2019.

During the investment period, Riverside assisted the company with its geographical expansion, making six add-ons in Italy, Spain, the UK, Austria and Australia. The company also established new product categories and strengthened its relationships with original equipment manufacturers (OEM), according to a statement.

Riverside held a final close for Riverside Europe Fund VI in March 2021 on EUR 465m. Its investments to date include Belgium-based security software Cryptomathic, which it acquired in June 2021.

Company
Founded in 1991, Repa supplies spare parts for catering, coffee and vending, refrigeration and household appliances. The company is headquartered in Bergkirchen and employs 700 staff across its operations in Italy (where it operates via its LF and Atel subsidiaries), Germany (GEV), France (EPGC) and the UK (CCS).

People
The Riverside Company – Peter Schaberger (partner).
Repa – Alexander Wiegand (CEO).
PT Holdings – Steve Snower (CEO).

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