Investindustrial announced yesterday the final closing of its Investindustrial Growth Fund at 375 million euros. The new fund is focused on European investments in the lower European mid-market (see here the press release).
The Fund was raised in less than three months and oversubscribed on the back of significant interest from existing investors. The investor base is made up of 20 long-term investors, of which 66% of the capital comes from Europe and 34% from the United States. Paul Hastings acted as legal advisor.
The fund has already two companies in itws portfolio having bought stakes both in Benvic, a leader in European PVC compounding with headquarters in France, and OKA, a leading home furnishings and lifestyle brand headquartered in the UK.
Andrea C. Bonomi, managing principal at Investindustrial commented: “In recent years we have remained active in the lower mid-market through add-ons for our core mid-market portfolio companies and have now returned to making platform investments in this space with Investindustrial Growth. The lower mid-market is attractive for Investindustrial given the large opportunity set, which allows us to be highly selective, the nature of the companies, which are ripe for professionalisation and internationalisation, and the significant frequency of inbound interest from high-calibre entrepreneurs seeking to partner with our firm. Recently we announced the acquisitions of HTL Strefa/PIC and lifebrain in Italy”.