Erhvervsinvest sells Damolin to French industrial

The exit comes six years after Erhvervsinvest first backed Damolin in a management buyout financed with commitments from the private equity firm's DKK 732m 2007-vintage Erhvervsinvest II vehicle.

Erhvervsinvest and Damolin did not disclose any financial terms and Imerys's notice to the stock exchange did not contain any information on pricing either. However, Erhvervsinvest partner Thomas Marstrand said in a statement that the investment had been a good one for his firm.

Previous funding
In December 2010, Erhvervsinvest tapped its 2007-vintage second fund to acquire a majority stake in Damolin, investing alongside the company's management.

Company
Founded in 1942, Damolin is a producer of minerals. The company's main products are based on the mineral moler, which is mined and refined by Damolin. Moler has absorptive properties and is used in absorption of chemicals and oil, and is also used for animal feed and cat litter.

Damolin is based in Fur, with two production plants in Denmark as well as subsidiaries in France and Germany. It employs a staff of 154 and generated DKK 330m of revenue in the 2015 financial year, with DKK 57.3m of EBITDA, according to the Danish companies registry.

People
Erhvervsinvest – Thomas Marstrand (managing partner).

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