Gilde Buy Out Partners ("Gilde") has agreed to sell its stake in Betafence to funds advised by CVC Capital Partners ("CVC").
CVC already owns a minority stake in Betafence. Post transaction CVC will own a majority stake in the business. The business will continue to be led by the current management team who will remain shareholders in partnership with CVC. The transaction is subject to customary competition clearances.
Steven Buyse, Senior Managing Director at CVC commented: "Betafence has been successful in gaining market share in the high security segment in recent years - it has developed a leading global position and has strong growth prospects. We look forward to continuing to support the Company's effective strategy."
Leading European private equity fund Gilde, acquired Betafence in 2005 in a corporate carve-out from the listed Bekaert group. Gilde subsequently syndicated part of its participation to CVC. Nicolas Linkens, Partner at Gilde said: "Betafence has performed strongly since 2005 and is now well positioned for future growth. We wish the Company, its management and shareholders the very best for the future."
Michele Volpi, CEO Betafence, echoed Gilde's and CVC's remarks: "This is good news for the company and its employees. The transaction underpins the company's accelerated growth strategy." He added: "We are very grateful to both Gilde and CVC for the great support they provided to Betafence since the buyout and we look forward to further grow this successful Belgian company into a global player with the CVC-team."