Silverfleet has agreed to sell CoreDux to Arcline Investment Management

CoreDux

CoreDux is a vertically integrated provider of mission-critical flexible gas and fluid artery systems used in high-tech applications such as semiconductor production equipment and aerospace equipment. The firm employs approximately 300 staff and has manufacturing facilities in the Netherlands and France with further sales and engineering support activities in Germany and the United States.

The Deal

In 2019, Silverfleet acquired a majority stake in CoreDux in a carve-out of two entities from the BOA Group. Since the acquisition, Coredux has invested significantly in capacity expansion and business development, which has helped drive a revenue CAGR of more than 20 percent. Having outpaced the growth projections and with strong momentum in new applications, such as space and clean energy, the shareholders decided to look for a new owner which could continue this growth trajectory and accelerate it in the United States. Lincoln ran a targeted process from which Arcline Investment Management emerged as the preferred partner. The consultation process of CoreDux’s work councils is to be launched shortly. Completion of the transaction is subject to customary regulatory approvals.

Our Perspective

Sibert Meulenbelt, Managing Director in Lincoln’s Amsterdam office, commented, “CoreDux is an excellent example of a company that uses its expertise from the very demanding semiconductor equipment market to be successful in other niche markets. We see strong demand from specialist strategic and financial investors for companies that manage the strong growth and technological requirements of the world’s leading semiconductor original equipment manufacturers. We approached a targeted list of potential investors that could add value to Coredux’s growth story and would fit with the company’s culture.”

Silverfleet CoreDux Arcline Investment Management 2022
  • 2022
    Close Year
  • Industrials
    Industry
  • Private Equity
    Client Type
  • Financial | Cross-border
    Transaction Type
  • USA | Netherlands | United Kingdom
    Countries
Lincoln served as a trusted partner to the shareholders at each stage of the process, providing invaluable insights based on deep industry knowledge, intimate buyer relationships and strong process expertise and complemented this with a high-quality, hardworking team at all levels to assist with all of the process documentation.
Rob Knight
Partner at Silverfleet

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