Kempen European Private Equity Fund acquires interest in GSRI
GSRI, originally a French company founded in 1997, offers inspection, diagnostic, and advisory solutions to optimise the management and maintenance of existing infrastructure projects during their entire life cycle.
The participation of the Kempen European Private Equity Fund is a co-investment with investment company Sparring Capital, www.sparringcapital.com, and the original founders. The management team of GSRI has also invested with its own resources. As a result, the interests of the various investors are equally represented.
Sven Smeets, Managing Director of Kempen Private Markets, explained: ‘We are pleased to announce our investment in GSRI. GSRI is a unique company with significant knowledge and experience in innovative infrastructure management. The company inspects and captures the state of repair and maintenance of infrastructure assets, such as water mains, sewer systems, bridges, roads, and power plants. Their analysis allows for much more effective and efficient planning and execution of preventive maintenance works. Our objective is to ensure that GSRI can grow further on an international scale through a targeted buy-and-build strategy, and to focus on targeted acquisitions within the industry.’
Bram Bikker, Director of Kempen Private Markets, added: ‘GSRI has a solid client base consisting of water supply companies, municipalities, (semi)government institutions, and utility companies. Yet another important group of clients are concessionaires, such as electricity companies, airports, railway companies, motorways, and toll road operators. In many European countries, the infrastructure is obsolete, presenting interesting opportunities for GSRI’s international growth. We see significant opportunities in granting our clients access to such a company.’
This is the second participation of the fund in 2021 after acquiring an interest in the British software company Eque2 in February of this year. This is the eighth direct private equity deal of the Kempen European Private Equity Fund and the second deal for the fund in France.
GSRI was founded in 1997 and is a supplier of testing, inspection, and engineering services. The company tests and analyses the structural integrity of civil engineering infrastructure such as water mains, sewerage systems, bridges, roads, power plants, and public buildings. GSRI heeft 380 FTE’s in dienst en heeft in totaal 15 kantoren in Frankrijk en heeft daarnaast een kantoor in België.
About the Kempen European Private Equity Fund
The Kempen European Private Equity Fund was launched at the start of 2019 and is a closed-end investment fund with a minimum duration of ten years. The fund focuses on the small and lower mid-sized segment of the European buy-out private equity market in five regions: the Benelux, the German-speaking countries, France, the United Kingdom and Scandinavia. The aim is to construct a broad investment portfolio over a period of three to five years by diversifying across the listed regions and a range of sectors. The reason for this is risk diversification.
As of March 2021, the portfolio already contained eight direct investments in companies and nine partnerships with local European investment partners that are well established in their respective regions. The fundraise for the Kempen European Private Equity Fund was successfully completed in 2019 on a total committed capital of € 192.5 million.The Kempen European Private Equity Fund has now been closed to new participants/entrants.
The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Subfonds is registered for offering in a limited number of countries. The countries where the subfund is registered can be found on the website.
The value of your investment may fluctuate. Past performance provides no guarantee for the future.
About Kempen Capital Management
Kempen Capital Management is a specialist asset manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Kempen provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 31 December 2020, Kempen Capital Management had a total of €86.2 billion in client assets under management.
Kempen Capital Management, part of Van Lanschot Kempen Wealth Management NV, is a specialist and independent wealth manager. Kempen Capital Management NV is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. Kempen Capital Management (UK) Ltd is licensed as a manager and subject to supervision by the Financial Conduct Authority.
For more information, please visit: kempen.com