Agilitas backs military vehicle, soldier armour developer TenCate

Nov 5, 2020 | News, SEAPEC

Pan-European private equity firm Agilitas has agreed to buy soldier and military vehicle protection specialist TenCate Advanced Armour from Royal TenCate, a textile manufacturer backed by Gilde Buy Out Partners and Parcom Capital.

Headquartered in Nijverdal, The Netherlands, TenCate produces lightweight, protective armour systems for people, vehicles, aircraft and ships. It develops, tests and manufacture protection products in-house, from its facilities in Denmark, France and the US and has 300 employees.

Financial details of the transaction, Agilitas’ sixth investment made from its second fund, were not disclosed.

Agilitas was set up in 2011 and invests in companies which have limited cyclical exposure and are defensible, with enterprise values of €50m to €300m. Main targets are in the environmental services and technologies, technology, media and telecommunications, healthcare and aerospace sectors.

In a recent deal, the firm acquired education and training specialist Learning Curve Group (LCG) from MML Capital. The deal for the UK business had an enterprise value of about £150m PEN reported.

Source: Financial Times

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