The Riverside Company has acquired a majority stake in Kaul , a producer of polishing, anti-sticking and release agents for the confectionary, agricultural and pharmaceutical industries.
Equity for the deal was provided by Riverside’s European Fund, with the acquisition debt provided by Unicredit Markets and Investment Banking and Berenberg Bank, Hamburg.
Volker Schmidt, a partner at Riverside, said, “Kaul fits perfectly into our target profile of “Hidden Champions”, well managed companies with a strong market position and further growth potential.”
The Riverside Company invests in mid-market companies with enterprise values of under €150 million and has 18 offices across North America, Europe and Asia.
It recently acquired Blendco Systems LLC, a manufacturer of car wash detergents, as an add-on acquisition for DuBois chemicals, another Riverside investment.