Gimv - Divestment of 3rd largest portfolio company Coolworld
Gimv sells the 3rd largest portfolio company Coolworld to Arcus Infrastructure Partners.The transactions provides an IRR of >15% with proceeds estimated at EUR 75-90m (DPe) or about 5-6% of GAV. This is good news for Gimv as this comes after a period of mainly investments and barely any divestments which resulted in a significant net debt position. This transaction will help with that.We believe it will take more than 1 transaction to turn sentiment in the sector but it is nonetheless a step in the right direction. We expect more deals to come towards the end of the year. WeGIMV is a listed investment company, specializing in private equity and venture capital and active in small and medium buyouts, growth financing and technology investments. Co. is also present with technology investments across Europe and in Israel, Japan and the USA. Co. invests in ICT (Technology), environmentally friendly technology (Cleantech) and Life Sciences.
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