Global private equity firm Riverside has acquired a majority stake in Kaul, a polishing, anti-sticking and release agent producer for the confectionery, agricultural and pharmaceutical
Global private equity firm Riverside has acquired a majority stake in Kaul, a polishing, anti-sticking and release agent producer for the confectionery, agricultural and pharmaceutical industries.
Kaul develops glazing and polishing agents for sugar confectionery, such as jelly beans, gummy bears, gums and sugar-coated chocolates.
Since its foundation in 1975, Kaul has been providing a broad range of products manufactured in its plant in Elmshorn pursuant to the latest regulatory standards. For most products, Kaul also offers Kosher and Halal as well as TFA, GMO-free and organic product certificates.
Equity for the deal will be provided by Riverside’s most recent European Fund REF IV, and the acquisition debt is provided by Unicredit Markets and Investment Banking and Berenberg Bank, Hamburg.
Volker Schmidt, Riverside partner, says: ‘Kaul fits perfectly into our target profile of ‘hidden champions’, well managed companies with a strong market position and further growth potential. Under the leadership of Mr. Haupt the company has grown to become a global leader in its niche. We look forward to support Mr. Haupt and his management team in the continuous growth.’
Klaus Dieter Haupt, Kaul chief executive, says: ‘With Riverside we have found a partner that operates globally just as we do. I am confident that together we will not only be able to reinforce our leading position but also to explore additional opportunities.’
