Riverside exits Capol

Riverside reaped a 3.6x money multiple and 37.6% IRR on the original investment.

The private equity house originally bought 100% of Capol in 2009 from co-founder Karl-Dieter Haupt and the heirs of one of Capol's founding partners. Debt for the investment was provided by Unicredit and Berenberg Hamburg. 

During its four-year holding period, Riverside supported the firm's add-on acquisition in the US, improved Capol's research and development strategies, aimed to streamline production, and enhanced sales and marketing activities.

The deal marks Riverside's second exit this year after the firm sold its 60.9% stake in Portuguese telecommunications company Oni Telecom in June.

Company
Capol is based in Elmshorn and was founded in 1975 under the name of Kaul. It develops and manufactures polishing, anti-sticking and release agents used in the confectionery, agricultural and pharmaceutical industries.

According to Riverside, the firm's revenues and earnings grew by an annual growth rate of 15% and 12% respectively over the holding period. Its current revenue is said to stand at around €25m–30m. Capol has subsidaries in the UK and Chicago, US.

People
Dominik Heer and Thomas Blomqvist led the deal for Riverside. Hanno Wentzler is CEO of Freudenberg Chemical Specialities. Matthias Seemann is Capol's CEO.

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• Riverside