IK Partners’ (IK) IK Small Cap II Fund (IK SC II) is to sell 2Connect to Rivean Capital alongside management who will be reinvesting.
Financial terms of the transaction have not been disclosed.
2Connect designs, develops and produces innovative and customised interconnection solutions for original equipment manufacturers (OEMs) and original design manufacturers (ODMs) globally.
Founded in 2000, the Company prides itself on setting new standards for interconnection solutions by designing high-quality and cost-effective units in partnership with its long-term client base. 2Connect employs over 450 people across its headquarters in Waalwijk, the Netherlands and three manufacturing sites in Romania and Germany. Their market reach spans over 40 countries.
IK invested in 2Connect in November 2018 and since then, the Company has more than doubled its revenues, completed two add-on acquisitions in both Germany and the Netherlands, expanded internationally and showed strong capability to scale its operations.