The Riverside Company, a global private equity firm focused on the smaller end of the middle market, and co-investors have sold RE Panels S.A., parent company of EPCO and TECSEDO, to THI Investments. As the European leader in panels for overhead doors, EPCO makes sandwich panels for residential, commercial and industrial sectional overhead doors. The company completed the add-on of Swiss manufacturer TECSEDO in 2018, cementing RE Panels’ leadership position in the European market.
During Riverside’s investment, consolidated sales and EBITDA doubled while its manufacturing, distribution and sales forces grew significantly.
“It’s been a pleasure working with the EPCO and Tecsedo teams,” said Riverside Managing Partner Karsten Langer. “Partnering with such experienced professionals, we were able to expand the group’s geographic reach, product portfolio and customer base to become the undisputed leader in their field.”
Riverside invested in EPCO in 2016, impressed with the company’s unique production technology and close customer relations.
“Riverside worked diligently with the EPCO team to scale the business based on its exceptional production efficiency and transformed a local leader into a best-in-class European platform,” said Riverside Principal Damien Gaudin.
“We are thankful for the tremendous contribution brought by The Riverside Company,” said RE Panels CEO Luc De Deygere. “We’ve made a jump in just three years, achieving so many strategic and operational initiatives, including greenfield expansion in Poland and an add-on investment in Switzerland. Now starts another exciting chapter for our team and business.”
Working with Langer and Gaudin on the investment for Riverside were Senior Operating Partner Fabio Pesiri and Senior Associate Gaspard d’Avout d’Auerstaedt. The investment was originated for Riverside by Vice President Jeroen Lenssen.
Rothschild & Co acted as exclusive sell-side M&A advisor. Allen & Overy, WalderWyss and Advocatenkantoor Parmentier provided legal counsel on the transaction for Riverside; Deloitte advised on financial and tax vendor due diligence, and Munich Strategy Group assisted with commercial vendor due diligence.
About The Riverside Company
The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 600 investments. The firm’s international private equity and structured capital portfolios include more than 100 companies.