Cobepa and Management acquire HG International from Gilde Buy Out Partners
Utrecht and Brussels – Cobepa today announced the acquisition of HG International B.V. ("HG"), a leading supplier of specialty cleaning products marketed under the HG brand in The Netherlands, Belgium, the United Kingdom, France and other European countries, from its former shareholder Gilde Buy Out Partners ("Gilde"). The management team will continue to be a significant shareholder in the company. The terms of the agreement have not been disclosed and completion of the transaction is expected to take place in February 2017.
HG International is a leading European supplier of specialist consumer cleaning and maintenance products marketed under the HG brand name. Already a strong household name in The Netherlands and Belgium, HG continues to expand its sales in, amongst others, food- and DIY-retailers throughout Western Europe with firm footholds in other countries such as the United Kingdom, France, Germany, Spain and Italy. Headquartered in Almere, The Netherlands, HG manufactures, distributes and sells a comprehensive assortment of over 200 specialty cleaning and maintenance solutions, including products for bathrooms, kitchens, fabrics, gardens, floors and furniture.
Peter de Heer, CEO of HG International, explains:
"With Gilde as a partner we have been able to further strengthen our leading market position in the Benelux as well as accelerate our growth throughout other European countries such as France and the United Kingdom in particular. We are very happy with Cobepa as our new financial sponsor who fully supports the continuation of our successful growth strategy. In the years to come, HG will continue to further strengthen its reputation as the leading brand in specialized cleaning and maintenance products. Our long-term vision, which has resulted in constant and sustainable growth of the HG brand over decades, fits perfectly with the long-term investment policy of Cobepa."
Jean-Marie Laurent Josi, Managing Director of Cobepa, added:
"We are very pleased to become the new partner of Peter de Heer and his management team, and we are looking forward to participating in the next development phase of HG by providing financial support and access to our network. I am sure that HG's management will be able to prolong their continuous growth track record both in the Benelux and in the core neighboring countries to further reinforce HG's position as the clear European market leader in specialty cleaning and maintenance products."
With offices in Brussels and New York, Cobepa is an evergreen investment company with a net worth of €2 billion. Since 2004, its shareholder base is comprised solely of several industrial families thereby providing Cobepa with the stability to have a medium- to long-term investment horizon. Cobepa has gradually and consistently grown its investment portfolio, with a clear focus on investing in national or global leaders operating in growing industries. For more information, please visit www.cobepa.com
About Gilde Buy Out Partners
With offices in the Benelux and DACH region, Gilde Buy Out Partners is a leading European private equity investor in mid-market transactions. Founded in 1982, Gilde has been supporting management teams in over 250 companies across a diverse range of sectors. Today Gilde manages funds in excess of €3 billion and has a controlling interest in companies such as Royal Ten Cate, t-groep, Reesink, Amor, Losberger, Enkco, Comcave, Riri and Teleplan. For more information, please visit www.gilde.com
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