Nordic Capital Funds VI and VII (“Nordic Capital”) have reached an agreement to sell Brink Group B.V. (“Brink”), a leading manufacturer of towbars, to H2 Equity Partners Fund IV (“H2”). The new owners will continue to support the company’s growth and strategy.
Brink is one of the global market leaders in towing systems. Brink develops, manufactures and sells fixed, detachable and retractable towbar systems in all major Western European aftermarkets and internationally to all major car manufacturers. Brink has approximately 600 employees in seven countries and five manufacturing locations in the Netherlands, France, UK and South Africa.
“During Nordic Capital’s ownership Brink has continuously invested in innovative projects as well as in expansion and renewal of the production setup. Since the spin-off from Thule Group, Brink has been able to continue developing its operations with full focus on its core business, which has benefitted the company”, says Hans Eckerström, representing Nordic Capital and Board member of Brink.
Gerrit de Graaf, CEO of Brink Group, comments: “We are pleased with this important step in the history of Brink Group. H2 is a leading European investment company with a hands-on attitude, connecting well with our ambition. The direction of the company set in the recent years, to provide and support our OE and AM customers with a ‘perfect fit’, will be rolled out further. I would like to thank Nordic Capital for their continuous support in the rollout of our strategy and accompanying investments during their ownership.”
Harmen Geerts, partner of H2: “The investment in Brink Group fits in the strategy of H2. Brink Group is a strong company, expanding and strengthening its leading role in the European tow bar market through a focus on innovation, marketing and product development. In line with this direction, substantial opportunities are apparent to further develop Brink Group.”
Brink Group is a spin-off of the towbar division from Thule Group. The spin-off took place in September 2014, and was in line with the strategic direction to allow both companies to continue with full focus on their respective core businesses.
The transaction is subject to fulfilment of various conditions, including clearance of relevant competition authorities.