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Silverfleet Capital completes Cimbria Group buyout

4 Apr 2013

Storm dark clouds over fieldLondon-based private equity firm Silverfleet Capital has completed the acquisition of Danish seed and grain processing equipment maker Cimbria Group for DKK1bn (€137m).

Silverfleet has bought a majority stake in the business from fellow private equity firm Axcel and members of Cambria’s management, which have reinvested a “significant amount of money” for a minority interest.

The deal was reached in January and has now secured the approval of competition regulators, becoming the sixth investment from Silverfleet’s current €670m fund.

Cimbria’s products include standalone equipment and custom built projects and installations used for seed processing and post-harvest graining. It has two productions facilities in Denmark in addition to one in each Austria, the Czech Republic and Italy.

The company reported an ENIDTA of DKK145m (€19m) on sales of DKK1.05bn (€140m) for the previous year.

Silverfleet’s other recent deals in the Nordic region include the buyouts of Swedish allergy diagnostic company Phadia and bleaching chemicals maker Finnish Chemicals.

Elsewhere, the firm acquired French women’s fashion retailer La Fée Maraboutée for €65m in December.

A research report released by Silverfleet in February showed that 275 add-on deals were completed in 2012, down from 395 in the previous year.

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