PRINT THIS PAGE AlpInvest buys Novem from CVC and Goldman Sachs for E200m24/02/2004. Source: AltAssets. 
 Dutch private equity group AlpInvest has made its first direct investment since being separated earlier this month from NIB Capital with the E200m acquisition of car interiors manufacturer Novem from CVC Capital Partners and Goldman Sachs.
CVC and Goldman acquired Novem in 1995 from the family owners and proceeded to make a string of non-core divestments. The firm now supplies premium car manufacturers in both Europe and North America with luxury wood, metal and synthetic interior trim products. It had revenues of E207m for the year ending Mar 31 2003.
Volkert Doeksen, CEO of AlpInvest, said: 'We are extremely pleased with the investment, which neatly fits within in our investment strategy of promising middle market transactions in Germany and the Benelux.'
AlpInvest is one of the largest private equity investors in the world with more than E20bn of asset under management. Most of its assets, about 80 per cent, are in private equity funds but it also makes direct investments either as a lead or co-investor.
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