The Kempen European Private Equity Fund, the private equity investment fund of Kempen Capital Management (Kempen), has acquired a direct interest in a new entity by the name of Tellus Group (Tellus) that was formed as a result of the merger of five regional campervan dealers in Norway.
Tellus was formed by the merger of five Norwegian campervan dealers with a total of ten locations. The new group employs 120 people. The ten locations are state-of-the-art motorhome dealerships, located strategically across Norway. Tellus currently offers two-thirds of all large campervan brands, focusing primarily on the sales of new and used or pre-owned camper vans. Other activities include the sales of caravans and offering maintenance services.
Sven Smeets, Managing Director of Kempen Private Markets, says: ‘The ten locations were brought in by the five current founders/managers who are seeking to pool their resources in the Norwegian campervan and caravan market. Tellus is active in selling both new and previously owned vehicles. The newly formed group will be able to achieve significant benefits of scale, including greater purchasing power of campervans and caravans from manufacturers, more efficient stock management, better financing conditions, and centralisation of support functions.’
The participation of the Kempen European Private Equity Fund is a co-investment with the Norwegian investment company Credo Partners and the current founders/managers, so that the interests of the various investors are given equal treatment.
Read more/Source: Private Equity Wire
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