European buyout house Silverfleet has agreed to exit hose and subsystem designer manufacturer CoreDux to Arcline IM.
Silverfleet bought into CoreDux in 2019 following a carve-out of two entities form the BOA Group, having identified strong growth in the semiconductor equipment specialty parts market. The company reached a revenue CAGR of 20% during the investment period.
CoreDux provides flexible gas and fluid artery systems used in high-tech applications such as semiconductor production equipment and aerospace equipment. It has manufacturing facilities in The Netherlands and France and sales and engineering support in Germany and the US.
Rob Knight, partner at Silverfleet, said, “Coredux is a differentiated technology business, operating in exciting markets supported by various megatrends, and led by a very high quality management team. It has been a pleasure to work with the team and I wish them well in the next stage of their journey.”
Silverfleet scored a 3.1x return selling its majority stake in 7days, a German supplier of workwear for the healthcare industry, to fellow private equity firms Chequers Capital and Paragon Partners in 2020.
The firm called off its third flagship fundraise last July “due to market circumstances”. The firm said it will instead focus all its future efforts on follow-on investments, value creation and realisation within the existing portfolio of assets.
It closed its sophomore fund on €850m final close in 2015.
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