Gimv exits climate control business Brakel to Kingspan
Gimv has sold Brakel, a climate control and fire safety business headquartered in the Netherlands, to Irish insulation and building company Brakel.
The investment in Brakel generated a return above Gimv's long-term average, the private equity firm said in a statement.
Brakel provides glass daylight constructions (glass roofs and skylights), ventilation systems (top hung windows and flap ventilators) and fire safety systems (fire detection, smoke and heat extraction installations) in commercial and industrial buildings.
Gimv bought a majority stake in Brakel in 2015, and provided additional capital for the add-on acquisition of ArginaTechnics in 2016.
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