BELGIUM - Gimv leads EUR 10m VCST investment

Following the transaction, which also included a restructuring of the company's debt, Gimv becomes the majority shareholder of VCST, with LRM as the second largest shareholder. Discussions concerning the participation by a third private equity provider are ongoing.

Headquartered in Saint-Truiden, VCST designs and produces precision gears for engines and transmissions, and transmission shafts and brake system components, for cars, trucks as well as off road vehicles. VCST is active in the European as well as the North American market with factories in St-Truiden, Belgium, Reichenbach, Germany, and León, Mexico. Customers include, among others, Continental, Volkswagen, ZF, Caterpillar, Paccar and Ford. In 2008, the group achieved a turnover of EUR 136m and currently employs over 1,000 people.

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