Parcom Capital today announces the acquisition of a majority stake in MGG Group, a cutting edge and high quality manufacturer of advanced aluminium sand‐castings and sub‐assemblies. MGG Group supplies various assemblies from sandcasting for commercial vehicles, heat exchangers and various other applications. The management of the company will co-invest alongside Parcom Capital.

The company currently generates annual revenues of approximately 100 million euros.

MGG Holding CEO Bart‐Jan van den Boogaart comments: ”The entrance of Parcom as our new majority shareholder gives MGG the opportunity to further invest in the expansion of our activities. OEM customers expect a wide range of capabilities and in-depth knowledge of production processes from their current and future partners. With the support of Parcom we will be able to serve them even better and offer them solutions they need to fulfil their success. Management and staff are looking forward to the new challenges and opportunities.”

Gijs Vuursteen, partner at Parcom Capital, is pleased with the investment in MGG. Vuursteen: “We are impressed by the way MGG’s management team is developing its market leading position as an innovative and high quality partner to its blue chip client base. Parcom will actively support the team in the further development of MGG’s potential.”

Profiles

Since the foundation in 1945, MGG has been at the forefront of the aluminium foundry industry. MGG has a reputation for constant innovation in automotive and other industrial branches. With unmatched commitment and our extensive knowledge of aluminium casting technology (sand casting, LPSC as well as machining and assembly), MGG provides its customers with the very best innovative and cost effective solutions. MGG uses a fully integrated approach so that MGG can deliver "ready-to-install" products, to meet the high customer requirements.

Parcom Capital is a leading mid-market private equity firm and was founded in 1982, focusing on investments in high-quality, leading companies in the Benelux. Over the past 30 years, Parcom Capital successfully invested in more than 75 (international) companies. Recent investments have been made in Jan Snel, Simpel.nl, GoodHabitz and RH Marine Group.

For more information, please contact Bart-Jan van den Boogaart

(e-mail: bvandenboogaart@mgg.com).