GIMV: investment in sports equipment

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


Founded in 1975, the Bavarian company manufactures mowers and trackers for sports fields, which it sells to soccer clubs, including top 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 main shareholder, SMG says it intends to accelerate its growth and expand its international presence, particularly in the US.

The financial terms of the acquisition were not disclosed.


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