15 September 2009 - The Riverside Company, the largest and oldest global private equity firm investing in companies with enterprise values of under Euro 150 million, has acquired a majority stake in Kaul GmbH, the leading polishing, anti-sticking and release agent producer for the confectionery, agricultural and pharmaceutical industries, with a global leadership position in the development of glazing & polishing agents for sugar confectionery, e.g. jelly beans, gummy bears, gums and sugar-coated chocolates.
Since its foundation in 1975, Kaul GmbH has been providing a very broad range of products manufactured in its plant in Elmshorn pursuant to the latest regulatory standards such as ISO 9001, IFS, HACCP and BRC. For most products, Kaul also offers Kosher and Halal as well as TFA, GMO-free and organic product certificates. Along with the standard products, Kaul GmbH produces more than 250 tailor-made products to meet special requirements of individual customers. The Company’s customer base is extremely stable and diverse and includes almost all major confectionery companies. Kaul services its customers directly as well as through agents and distributors in over 60 countries globally.
Equity for the deal will be provided by Riverside’s most recent European Fund REF IV, and the acquisition debt is provided by Unicredit Markets and Investment Banking and Berenberg Bank, Hamburg.
Volker Schmidt, Riverside Partner, said:
“Kaul fits perfectly into our target profile of “Hidden Champions”, well managed companies with a strong market position and further growth potential. Under the leadership of Mr. Haupt the company has grown to become a global leader in its niche. We look forward to support Mr. Haupt and his management team in the continuous growth”.
Dipl. Ing. Klaus Dieter Haupt, Kaul GmbH CEO, said:
“With Riverside we have found a partner that operates globally just as we do. I am confident that together we will not only be able to reinforce our leading position but also to explore additional opportunities.”