An affiliate of Dallas-based Lone Star Funds has acquired ERIKS N.V., a specialized pan-European industrial components distributor and engineering service provider.
“ERIKS represents an exciting investment opportunity and a valuable addition to our European investment portfolio. This acquisition aligns with our strategy of investing in market leading businesses that exhibit both growth and operating improvement potential,” Donald Quintin, CEO and global president of Lone Star, said in a statement. “We are excited to work alongside the ERIKS team to further scale the business and accelerate the delivery of innovative solutions to their customers.”
Terms of the deal were not disclosed. The acquisition of ERIKS was completed after approval by regulatory authorities, Lone Star said.
Founded in 1940, ERIKS is a provider of specialized industrial services with more than 200 locations in 12 countries.
Lone Star said that ERIKS’ deep industry experience, technical knowledge, local distribution network and dedicated engineering facilities allow it to develop advanced, customized solutions that drive performance improvements, deliver cost savings and add measurable technical and commercial value for its customers.
“Joining forces with Lone Star is a significant milestone that propels our strategic vision forward,” ERIKS CEO Stepan Breedveld said in a statement. “This partnership will enable us to leverage Lone Star’s vast resources, sector expertise and strategic support, and better positions ERIKS to enhance our service offerings and better serve our customers around the world.”
$87 billion in capital commitments
Lone Star is a private equity firm advising funds that invest globally in corporate equity, credit, real estate and other financial assets.
Since the establishment of its first fund in 1995, Lone Star said it has organized 23 private equity funds with aggregate capital commitments totaling approximately $87 billion.
It organizes its funds in three series: the Opportunity Fund series; the Commercial Real Estate Fund series; and the U.S. Residential Mortgage Fund series.
Lone Star said it invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes.
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R E A D N E X T
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Donald Quintin has been appointed chief executive officer and global president of Dallas-based Lone Star, a global private equity firm. Quintin joined Lone Star in 2010 and has served in multiple leadership positions, most recently as president of opportunity funds overseeing the origination and operations of the Opportunity Fund and the Residential Mortgage Fund strategies. Before Lone Star, Quintin was a managing director at Merrill Lynch and managed various businesses and legacy portfolios. He began his career at Bankers Trust and then Salomon Brothers. Lone Star invests in real estate, corporate equity, credit, and other financial assets. Since the establishment…
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