Silverfleet is to sell CoreDux, a manufacturer of flexible gas and fluid artery systems headquartered in The Netherlands, to Arcline Investment Management.
Completion of the transaction is subject to customary regulatory approvals and is expected by Q1 or Q2 2022.
Founded following a carve-out of two entities from the BOA Group in 2019, CoreDux is a vertically integrated provider of flexible gas and fluid artery systems used in the most demanding high-tech applications such as semiconductor production equipment and aerospace equipment. The firm employs c300 staff and has manufacturing facilities in The Netherlands and France with further sales and engineering support activities in Germany and the US.
Silverfleet acquired a majority stake in CoreDux in 2019, having identified strong growth in the semiconductor equipment specialty parts market and an opportunity to build a leading full-service provider of flexible gas and fluid artery systems with significant application and engineering capabilities. Since then, Silverfleet has supported CoreDux to consolidate the two BOA entities into one group and to invest in capacity expansion and business development, which has helped drive a revenue CAGR of +20 per cent between 2019 and 2021.
