Gimv: investment in sports equipment

(CercleFinance.com) - Belgian investment company Gimv announced on Friday that it had taken a majority stake in SMG Sportplatzmaschinenbau, a German manufacturer of sports equipment.


The Bavarian company, founded in 1975, produces mowers and trackers for sports fields, which it sells to soccer clubs such as Real Madrid and Bayern Munich.

SMG, which employs 55 people, boasts a total of over 1,200 customers, including American soccer clubs such as the Miami Dolphins.

With the arrival of Gimv as principal shareholder, SMG says it intends to accelerate its growth and expand its international presence, particularly in the United States.

The financial terms of the acquisition were not disclosed.

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