Greenfield in first deal post own MBO

The venture capital manager, which in May cut itself loose from the struggling Gold-Zack Group, has invested in a Dutch optronics company.

Greenfield Capital Partners, the Dutch private equity house and corporate finance business which advises a number of early stage investment funds, has invested in Colloseum, a vehicle set up for the purchase of C2V, a planar equity software company formerly known as Alcatel Optronics Netherlands 

Financial details of the deals have not been disclosed.  Two of Greenfield’s funds invested in Alcatel Optronics: NEThave, which has E40m to invest, and Berghave, a E15m vehicle. The funds, which received legal counsel from Simmons & Simmons in Rotterdam, are part of Greenfield Asset Management, which has E150m on its books.  

Greenfield was formed in 1995 and has invested in over 50 companies in the Netherlands, Europe and the US. In 2000, a 75 per cent stake in the group was acquired by Gold-Zack AG, the German financial services business which during the technology boom made an aggressive attempt to built a diversified venture capital investment and corporate finance advisory operation.

Following the market downturn, Gold-Zack has been forced to make significant changes to its business model and dispose of a number of interests in companies it had acquired. In December 2000, Gold-Zack sold mid-market investment bank Altium Capital Partners back to management, only to repeat the exercise with Greenfield six months later. 

Greenfield is now wholly owned by management. Originally offering private equity investment products to high net worth individuals, the firm now focuses on raising capital from banks and institutions in Holland, Belgium and Luxembourg.

According to a Greenfield spokesperson, Greenfield operates in very much the same way as it had done prior to completing the MBO. The group maintains a good, albeit informal relationship with Altium, the source said.

Since buying itself out of Gold-Zack, Greenfield has realised an investment in Contactive, a call centre in Amsterdam.