An affiliate of Lone Star Funds, which is based in the US, has bought leading producer of automatic snack and beverage vending machines N&W. The business was purchased from private equity funds formed by Investcorp Investment Holdings and Equistone Partners Europe.
N&W’s current management team will remain with the company and its range of products will be expanded in a bid to scale up its global presence.
Andrea Zocchi, chief executive of N&W Global Vending, commented: “I look forward to working with the new owners, as Lone Star will be a strong partner to work with over the next stage of N&W’s growth.”
Specialist asset manager Intermediate Capital Group realised its €215.4m on the deal for an original investment of €90m.