Triton and Paragon to sell Europart to Alpha Private Equity
Hagen (Germany), 12 May 2017 - Triton Fund II ("Triton II") and Paragon Fund I ("Paragon") signed an agreement to sell Europart Holding GmbH ("Europart"), the European market leader in spare parts for commercial vehicles and other workshop equipment, to Alpha Private Equity Funds ("Alpha"). The parties have agreed not to disclose the purchase price. The transaction is subject to regulatory approval in the relevant jurisdictions.
"Over the past five years, Europart has positioned itself as the clear European market leader in the distribution of spare parts for commercial vehicles. Along with improving the sales mix and product assortment and pushing private label, the company has streamlined the business through sourcing optimization and logistics centralization. Europart has invested in a strong future by expanding its geographical footprint in the Nordic region through the acquisition of Swedish parts dealers LVD and Trailereffekter. We are very confident that the business will continue to prosper under its new owner, Alpha, and its industry experienced team. We would like to thank the management team and the employees for their valuable contributions to the company's development", said Peder Prahl, Director of the General Partner for the Triton funds.
Edin Hadzic, Partner at Paragon, commented: "We remain impressed by the company’s progress over the last five years and what the management team and Europart’s employees have achieved to date. As the firm enters a new phase in its development, Alpha, as the new shareholder, will have ample opportunity to support the future growth with its industrial network."
Luca Zacchetti, Senior Operating Partner for Alpha, stated: "Alpha is delighted to work together with the current management team of Europart with the goal to grow the business further, to satisfy employees, customers and suppliers and to support accretive acquisitions."
Pierre Fleck, CEO of Europart, added: "Thanks to the support of our shareholders Triton and Paragon, the management and the employees of Europart have accomplished the tremendous task of repositioning and developing the company during the last five years. The new partnership between Europart and Alpha, an investor which will bring its strong industry experience as well as financial capability, will allow Europart to further accelerate its development."
EUROPART is the leading trading company for spare parts and accessories for commercial vehicles, buses and special vehicles of all classes in Europe. In addition, EUROPART supplies its main customer groups in vehicle garages, transport companies and fleet operators with a wide range of workshop requirements: This includes the areas of chemicals, workshop/office equipment, fastening technology, operational safety equipment etc. for day-to-day work. EUROPART has an international network and is with more than 300 sales outlets represented in 28 countries.
For further information: www.europart.net
Alpha invest in mid-sized companies in Italy, France, Germany, Benelux, and Switzerland, focusing on either business services, retail or capital goods businesses with the goal of achieving a long-term sustainable growth for its investments. Alpha is based in Luxemburg and is advised by a team of dedicated executives based in Italy, France, Germany and Benelux.
Paragon Partners, founded in 2004, is a leading private equity group in the German speaking countries with more than EUR 650m of equity capital under management. To date, the firm has completed twenty investments, of which fourteen have been fully or partially exited. Paragon Partners works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. Paragon Partners looks to unlock value in fundamentally attractive businesses, leveraging its ability to address transactional and operational complexity and transform companies through tailored value creation programs. The firm is based in Munich, Germany.
For further information, please visit www.paragon.de
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales of around €13.9 billion and around 86,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
For further information: www.triton-partners.com