Riverside sells DPA to PE-backed RCF Group

Oscar Geen
11 December 2018

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The Riverside Company has sold high-end microphone manufacturer DPA Microphones to Italian PE-backed audio equipment company RCF Group.

Riverside said the company's sales and EBITDA nearly doubled during its five-year tenure.

The GP brought in former Bang & Olufsen CEO Kalle Hvidt Nielsen to lead DPA, and supported the expansion of the product portfolio.

The company was put up for sale by Riverside with Alantra advising in June, according to Finans.dk. The report added that DPA employed 200 people and reported EBITDA of DKK 42m for 2017.

RCF is a Bologna-based producer and distributor of audio amplification equipment. It sold a minority stake to Amundi Private Equity and Palladio Holding for approximately €60m in 2017.

Previous funding
Riverside acquired the business alongside the management team in December 2013.

Company
DPA was founded in 1992 and is headquartered in Allerød. The company manufactures high-end microphones for professional users in areas such as theatre, broadcast, public address and studio use. The company also makes adapters and accessories.

DPA sells its products through its own sales offices in Denmark, the US and Hong Kong, as well as through an international network of 2,000 licensed distributors.

People
The Riverside Company – Karsten Langer (partner); Jonathan Roos (vice-president); Jeroen Lenssen (vice-president); Dan Parksjö (associate).
DPA Microphones – Kalle Hvidt Nielsen (CEO)

Advisers
Equity – Gorrissen Federspiel (legal); Peter Parmentier (legal); Alantra (corporate finance); Rautenberg Moritz & Co (commercial due diligence); PwC (financial due diligence).