Riverside Polishes Latest Exit August 08, 2013
Firm Sells German Confectionary Coating Specialist
The Riverside Company has sold Capol to Freudenberg Chemical Specialties, a Business Group of Freudenberg Group of Weinheim, Germany. Based in Elmshorn, Germany, Capol develops and manufactures polishing, anti-sticking and release agents used in the confectionary, pharmaceutical and agricultural industries. Capol boasts more than 250 trademarked products, sells in more than 60 countries, and its coatings enhance some of the best-known candies in the world.
Riverside invested in Capol in 2009. In the four years since, the company grew revenues and earnings by annual growth rates of 15% and 12%, respectively.
“During our ownership, Capol has transformed into a truly international company run by a broad and skilled management team, and is well-positioned to further leverage the multiple growth opportunities ahead,” said Riverside Partner Thomas Blomqvist.
During its ownership, Riverside worked with the company’s new management team to complete a significant add-on acquisition in the U.S., improve R&D, streamline production, and enhance sales & marketing in order to facilitate the company’s international growth.
“Capol has been an exceptional investment,” said Principal Dominik Heer. “We’ve worked with a very talented management team which fortified Capol’s global leadership position in its key regions in DACH and North America, while further developing the business in the growth markets of Asia and Latin America. CEO Dr. Matthias Seemann and his team did a great job preparing the company for the next phase of sustained growth. I would like to thank everyone involved and wish Capol ongoing success as part of Freudenberg Group.”
The transaction was led by Heer and Blomqvist. Working with them on the transaction for Riverside were Vice President Sven-Hendrik Schulze and Associate Xueli Jin.
KPMG and Watson Farley & Williams advised Riverside on the sale of Capol.
The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 310 transactions. The firm’s international portfolio includes more than 75 companies.