Sofindev III becomes reference shareholder of the Novy Group alongside Fortis Private Equity
On 25 November 2010, Sofindev III has become the new reference shareholder of the Novy Group, the Belgian manufacturer of cooker hood and other kitchen appliances.
Family shareholders (the Lannoy family) had already ceded majority control to Fortis PE in April 2005, while maintaining an important minority investment in the Company.
With the newly installed management team, Novy has been able to reinforce its position on the Belgian and French markets, as well as successfully introducing the brand in Germany. Its turnover has grown from 24 to 37 MEUR over this period.
Novy wishes to continue investing in further development of its presence in various European markets, in launching innovative products and concepts and in its brand name and image.
It is in this perspective that Novy announces the entry of Sofindev III, a Belgian financial partner, as the new reference shareholder in its capital, alongside Fortis PE which also will reinvest in the company’s growth ambitions. The reinvestment of both the Lannoy family and the management team also is a guarantee to continuity.
This new shareholder structure will allow Novy to successfully meet future opportunities and challenges.
Novy : Philippe Beauduin, Tel. +32 56 36 51 00
Sofindev III : Ghislain Thijs, Tel. +32 2 720 70 07
Fortis Private Equity : Hilde Junius / Jan Bergers, Tel. +32 2 565 47 37
Novy, a Belgian manufacturer of cooker hoods located in Kuurne, has a long history. In 2008, Novy celebrated its 100th anniversary. During recent decades, Novy has developed into a flourishing company, employing 150 people. Thanks to the high quality of its products, the Belgian manufacturer is market leader in its country. Meanwhile, Novy has also established itself as an ambassador of Belgian quality and reliability abroad. (www.novy.be)
Since the start of the 1990s, the Sofindev funds have been one of the key venture capital and buyout capital providers on the Belgian market. Sofindev III provides growth capital to medium-sized companies with high growth potential and assists them in carrying out long-term strategies geared to value creation.
The shareholders of Sofindev III are:
• Sofina, a listed Belgian holding company
• Colruyt, a listed Belgian retail group
• Imocobel, a family holding company belonging to the founders of the Interparking group.
For more information, please go to: www.sofindev.be
About Fortis Private Equity
Fortis Private Equity takes minority shareholdings (via development capital, buy-out capital or venture capital) and provides mezzanine finance to medium-sized companies in both traditional and innovative sectors in Belgium, Luxembourg and the Netherlands. Our goal is to support growth projects.
Companies with a motivated and experienced management team, strong market position and growth potential (through organic growth, international expansion, or acquisitions in consolidating markets) can rely on Fortis Private Equity. The equity or mezzanine investment envisaged ranges from 3 to 50 million EUR. FPE may also join forces with other capital providers, thereby securing a majority interest in a particular enterprise, or take a stake alongside other investors so as to carry out majority deals.
For more information, please go to: www.cpb.bnpparibasfortis.be