Brynwood Partners has sold its minority position in Royal Boon Edam Group Holding BV to majority owner Kareni BV. No financial terms were disclosed. Royal Boon is a Dutch maker of automatic revolving doors and security entrance products.
Brynwood Partners L.P. (“Brynwood”) announced today that it had completed the sale of its ownership position in its portfolio company, Royal Boon Edam Group Holding B.V. (“Royal Boon Edam” or the “Company”) to majority shareholder Kareni B.V.
Royal Boon Edam, headquartered in Edam, The Netherlands, is a global leader in the manufacturing and marketing of automatic revolving doors and worldwide security entrance products. The company has manufacturing facilities in China, The Netherlands and in the U.S.
Hendrik J. Hartong, Jr., Senior Managing Partner of Brynwood, stated, “In 2005, Brynwood merged its portfolio company, Tomsed Corporation, a U.S. manufacturer of turnstiles into Royal Boon Edam. During the past years, the Company’s management, its majority shareholder Kareni B.V. and Brynwood built Royal Boon Edam into a significant and dominant global manufacturer of automatic revolving doors and security access products.” Hartong further stated, “It was time for Brynwood to exit this very good investment in this superb company.”
Founded in 1984, Brynwood Partners is a private equity fund which invests in lower middle market companies over a long-term horizon targeting consumer products, light industrial manufacturing, specialty retailing and business services. The principals of Brynwood Partners have made investments in 22 portfolio companies and have successfully partnered with management to grow their businesses through the financial and operating support that Brynwood Partners uniquely provides.