ABN AMRO does two deals in one day

ABN AMRO Capital has bought Dutch manufacturer Vetus Den Ouden and a stake in Dutch media company Sdu on the same day. The investments are the firm’s second and third domestic deals of 2007.

Allianz Capital Partners and ABN AMRO Capital have each bought a 50 percent stake in Sdu, a publishing and security identification company, from the Dutch state. 15 parties, including both trade buyers and other private equity firms, competed in the auction.

 

The acquisition by Sdu of rival Dutch publishing company Wolters Kluwer’s 25.9 percent minority stake in Sdu Publishing is part of the €415 million ($544 million) deal. It is expected to complete toward the end of this month.

 

Sdu generated more than €200 million of sales in 2006 from two different businesses – Sdu Publishing, which prints legal journals and books, and Sdu Identification, which manages systems that link people and their identities. Founded in 1998, Allianz Capital Partners makes direct private equity investments for global insurer Allianz and has €2.4 billion under management.

 

ABN AMRO’s previous deals in the media sector include the acquisition in 2002 of Puzzler Media, a UK publisher of puzzle magazines, and the acquisition in 2000 of Quantum Business Media, a UK publisher of business to business magazines.

 

The firm has also bought Vetus Den Ouden, a Dutch manufacturer of nautical equipment and marine diesel engines, from Amsterdam-based AlpInvest Partners for an undisclosed amount. Various other private equity firms but no trade buyers competed in the auction.

 

Founded in 1964, Vetus generated sales of €54 million in 2006. It operates from the Netherlands, the UK, Spain and the US, and sells its products in more than 80 countries worldwide. AlpInvest was founded in 1999 and has more than €30 billion under management.

 

ABN AMRO Capital is the global private equity business of Netherlands-based bank ABN AMRO and has €2.6 billion under management. The firm completed nine European buyouts with an aggregate deal value of €1.3 billion and realised seven exits in 2006.