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Deutsche Beteiligungs exits AvK/SEK Holding

The German investor has sold its interest in the company to Newage International, a British firm.

Deutsche Beteiliungs has sold its stake in AvK/SEG Holding to Newage International in an all-paper deal, the size of which was not undisclosed.

Newage, of Stamford (UK), bought a 50 percent interest in Kempen-based AvK/SEG Holding. The combined company aims to make sales of about E350m.

Deutsche Beteiligungs invested E8.912m in AvK/SEG Holding in 1996 through a capital increase. Since then, revenues have risen 50 percent to about E110m.