H.I.G. Backed Losberger Acquires MVD Eventos in BrazilLosberger Group accelerates international expansion through acquisition of leading tent rental company in Brazil
BAD RAPPENAU / HAMBURG, 26th of February 2013 – H.I.G. Europe portfolio company Losberger GmbH acquired a majority stake in MVD Eventos, a leading tent rental company for Brazil’s premium event segment. No financial details were disclosed.
MVD Eventos, headquartered in Rio de Janeiro, is one of the leading tent rental companies in Brazil. It is focused on premium events in the areas of marketing, sports, culture and art in Rio de Janeiro and São Paulo. The company has built an excellent reputation through the engagement of major events such as Pan American Games, Soccerex, Trophy Tour, Rock in Rio and Red Bull Air Race. Moreover, the managing partners of MVD Eventos, who will stay on board after the acquisition, have extensive experience in the Brazilian event industry.
Berndt H. Zoepffel, CEO of the Losberger Group, comments: “Through the acquisition of MVD Eventos, Losberger is ideally positioned to benefit from the numerous major events coming up in Brazil, including World Youth Day 2013, Confederations Cup 2013, FIFA World Cup 2014 and the Olympic Summer Games 2016. Besides, we are convinced that the rapidly growing market in Brazil will provide interesting long-term growth opportunities for Losberger beyond these major events.“
Dr. Klaas Reineke, Director at H.I.G. and chairman of the advisory committee, added: “Management and H.I.G. are committed to the strategy to become the world’s leader in temporary space solutions through both organic growth and strategic acquisitions. After the acquisition of container specialist GRAEFF in August 2012, MVD Eventos is already the second add-on acquisition of Losberger since the backing of H.I.G.. This demonstrates how we consequently follow through with our growth strategy, also on an international level.”
About Losberger Group
With overall revenues of more than 140 million Euro in 2012, Losberger is a global leader in the development, production, sale and leasing of temporary tent and hall systems. The tents with span-widths of up to fifty meters are used for exhibitions, major events, company events, product presentations, retail, municipal facilities and temporary airport terminals. In its industrial segment, Losberger sells and leases various system halls predominantly used as storage, production and sales area. For military and human aid purposes, Losberger sells tent and hall systems that are easy to transport and can be quickly set up. These include inflatable structures, group tents, sanitary facilities and special halls and hangars for the storage of technical and military devices. With its stock of tents and halls of about 650,000 square meters, Losberger is one of the leading worldwide providers of mobile halls and tent systems for rent. The company was founded in 1919 and is headquartered near Heilbronn, Germany. Including its subsidiaries in France, the United Kingdom, Italy, Hungary, China and the US, Losberger has about 650 employees. www.losbergergroup.com
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than €8.5 billion of equity capital under management and a team of more than 250 investment professionals. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed businesses. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined revenues in excess of €22 billion. www.higcapital.com