Portfolio
Hyva
| Sector | Industrials | |
|---|---|---|
| Investment type | Buyouts | |
| Region | UK | Benelux |
| Status | Former investment |
Nature of Business
Hyva is a globally recognised producer and supplier of hydraulic cylinders for hydraulic loading and unloading systems for commercial vehicles. The company is a major supplier to the infrastructure, mining and construction sectors and is particularly prominent in emerging markets such as China India and Brazil.
Hyva also distributes components sourced from third parties, principally sold under the Hyva brand. Customers include MAN, Tata and Volvo. Hyva is a truly international business with a presence in c.130 countries and around 25,000 customers The company has its headquarters in The Netherlands.
Investment Overview
3i backed the €112m buyout of Hyva in February 2004. Since our investment, the business has made two acquisitions, both in Italy: Amco Veba, a Crane business and Tecnomet, which specialises in hydraulic cylinders.
We have used our international network to strengthen the management team by introducing Hamdi Conger as Chairman, Roelof Koch as CFO and Dirk van der Weeen as COO. In addition, we have helped the business establish manufacturing facilities in Yangzhou, China, and Mumbai, India, to supply both domestic and international markets.
Hyva has grown mostly organically, averaging an annual compound growth rate of over 15%, both in revenue and profitability in recent years.
In December 2010, 3i and funds managed by 3i, and the Hyva management team signed an agreement to sell Hyva Holdings to a consortium led by Unitas Capital, for an enterprise value of € 525 million. The deal was completed in April 2011, with 3i making a 10x money multiple on its initial investment.
