Travers Smith acts on Silverfleet Capital's €137m acquisition of A/S CimbriaSaturday, 10 October 2015
A Travers Smith team led by Head of Private Equity Phil Sanderson has, alongside Accura, advised Silverfleet Capital on the acquisition of A/S Cimbria, a leading manufacturer of equipment and processing lines for handling and processing of seed and grain, for DKK 1,025 million (€137 million).
Cimbria, headquartered in Thisted in Denmark, is a leading global manufacturer of equipment used for either seed processing or post-harvest grain handling. The company's products include equipment for cleaning, drying and storing grain and seed, as well as conveyors linking equipment in a handling or processing line. Cimbria operates two production facilities in Denmark, and one in each of Austria, the Czech Republic and Italy, and today has approximately 740 employees.
Silverfleet Capital will acquire a majority investment in Cimbria from Axcel, a Nordic mid market private equity fund, and members of Cimbria's management team will also reinvest a significant amount of their proceeds for a minority stake. Debt will be provided by Nordea.
Axcel were advised by Christian Schow Madsen at Bruun & Hjejle and Nordea were advised by Kromann Reumert.
The Travers Smith team also included Head of Banking Jeremy Walsh and senior corporate associate Will Yates