Odewald & Compagnie sells mateco stake to TVH

The transaction remains subject to approval from relevant competition authorities. It is estimated to be worth €150-200m.

The buying party, TVH, is a Belgian supplier of forklifts and industrial equipment based in Waregem. TVH expects to generate revenues of €800m in 2012, excluding the impact of the mateco acquisition.

O&C acquired mateco in 2007. The GP followed a buy-and-build strategy and also put a new management team in place. Capital for the deal was sourced from Odewald & Compagnie Fund III.

Company
Stuttgart-based mateco is an aerial platform rental company. Founded in 1973, the company has 4,800 platforms and 400 variations. Over the past five years it has added operations in 13 locations across Germany, Luxembourg and Poland. The company employs 560 people overall and forecasts revenues of €90m in 2012.

People
Partner Abdreas Fetting led the exit on behalf of O&C. Pascal Vanhalst and Armin Rappen are respectively CEO and chairman of mateco.

Advisers
Equity – Baker & McKenzie (Legal).
Vendor – Canaccord Genuity Hawkpoint (Corporate finance); P+P Pöllath + Partners (Legal).

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