German mid-market firm Steadfast Capital has taken a majority stake in textiles business Falk & Ross Group for an undisclosed sum, alongside the company’s management.
The company produces branded promotional products like t-shirts and polo shirts, and is headquartered in Sembach, 100km southwest of Frankfurt, with a warehouse in Barcelon and sales subsidiaries in Belgium, France, Poland, Austria and Italy. It also has sales offices in the Netherlands, Denmark and Czech Republic.
The investment was made from Steadfast’s second fund, which raise €193m in June 2007. The firm was formely known as BHF Private Equity and was owned by ING Group. ING sold its 100% stake in January 2006.
The firm makes investments in medium-size businesses in Germany and neighbouring regions such as Switzerland, Austria and the Benelux countries.