Dutch PE firm Torqx Capital Partners has backed Sonic Equipment, a producer and seller of professional hand tools and storage products.
A statement by Torqx states that the GP has entered in partnership with the owners of the bsuiness, suggesting they have retained a stake in the company.
Torqx will help Sonic Equipment accelerate its international expansion.
The GP was not available for comment at the time of publication.
Torqx is currently investing via its debut fund, a €150m vehicle closed in 2017. The fund should make 10-12 investments in total, Unquote previously reported.
Some of the GP’s previous investments include motorcycle parts wholesaler Hoco Parts (2017), food preparation equipment manufacturer Fri-Jado (2018) and party goods and accessories manufacturer Folat Group (2018).
Founded in 2004, Sonic Equipment specialises in the development and sale of professional hand tools and storage products acquired by automotive parts resellers and automotive original equipment manufacturers (OEMs), among others. End customers include automotive garages, dealers, and other industrial customers.
The business, headquartered in Purmerend, also exports to countries including Sweden, Norway, Belgium, France and Germany.
Sonic Equipment - Remko Papenburg, Niels Veldt (founders, owners).
Torqx Capital Partners - Harmen Geerts (managing partner).
Vendor – KPMG (financial due diligence); Lexence (legal).
Equity - PwC (financial due diligence); Houthoff Loyens&Loeff (legal).
Genesis Capital registered the fund in May 2018 and is targeting €40m for the vehicle
Hiro Capital I is a fund focused on the games and digital sports technology sectors
Apax Partners, which holds a 26.5% stake in the cybersecurity firm, will sell its holding
De Montgolfier joins from Brussels-listed investment firm Gimv, where he was partner and head of France