CVC and 3i sell stakes in sanitation service provider ADCO

Frankfurt --- Private equity investors CVC Capital Partners and 3i have sold their stakes in sanitation service provider ADCO Umweltdienste Holding GmbH to the Belgian Amcotec group of companies.

ADCO is a leading provider of mobile sanita-tion utility and disposal equipment, represented in more than 30 countries in Europe, the U.S. and South East Asia with its internationally acclaimed TOI TOI and DIXI brands. The parties agreed not to disclose any information on the purchase price.

The ADCO Group had its origins in 1997 in the wake of a merger of the two biggest European mobile toilet providers, DIXI and TOI TOI. CVC and 3i had acquired the pioneer company DIXI in 1995 following a management buyout. After the merger with TOI TOI, the group of companies saw constant growth, with the size of the workforce doubling in tandem with sales revenues. ADCO’s core business extends to include the production, lease, regular cleaning services and disposal of mobile sanitation systems. The product spectrum ranges from mobile, single-cabin toilets and shower stalls all the way through to luxury WC facilities.

“What began with the first DIXI cabin in Germany in 1973 developed into a success story of mobility without limitations”, said Marc van Dooren, a spokesman of Amcotec, “both on construction sites and at major events: we continue to perceive rising de-mand for modern and simultaneously environmentally friendly mobile sanitation facili-ties and, therefore, substantial growth potential.”

Steve Koltes, Managing Partner of CVC Capital Partners, commented: “This invest-ment is a good example to show how a private equity investor and an entrepreneur can collaborate successfully. In selling our stake in ADCO, we are convinced that the company continues to have major growth potential across the globe.”

“Together with CVC, we have successfully developed ADCO over a long period of time, cooperating with the management of the company in a mutual spirit of partner-ship,” said Dr. Stephan Krümmer, General Manager of 3i in Germany. “The entrepre-neurial spirit of ADCO’s management will continue to give the company fresh impetus for growth in future. We would like to wish the company all the best and every suc-cess for its future development”.

In this transaction, CVC was advised by Clifford Chance Frankfurt (Reiner Altfuldisch and Kerstin Kopp). 3i was advised by Dechert LLP Munich (Berthold Hummel (lead), Julia Braun, Kristina Karbach).