EQT’s acquisition of majority interest in Dutch wellington boots manufacturer Dunlop Protective Footwear

Ashurst has advised Pemberton Capital Advisors LLP on the financing of the acquisition of a majority stake in Dunlop Protective Footwear (DPF), the leading global manufacturer of protective wellington boots, by investment firm EQT.

Pemberton will support the transaction with a second lien loan. ABN Amro, Bank of Ireland, Idinvest, ING, NIBC, SEB and SMBC will provide senior financing.

The vendor Gilde Equity Management (GEM) will reinvest significantly as part of the transaction, retaining a minority stake in Netherlands-headquartered DPF.

Dunlop is the leading global manufacturer of branded protective wellington boots, serving professionals in Agriculture & Fishery, Food processing, Industry and Oil, Gas & Mining. With over 500 employees, production sites in the Netherlands, Portugal and the US, and sales activities around the world, Dunlop serves customers in more than 50 countries.

The transaction is expected to close in Q2 2018 and is subject to customary conditions and regulatory approvals. Financial terms of the transaction have not been disclosed.

The Ashurst team is led by finance partner Anne Grewlich (picture), assisted by senior associate Gabrielle Metherall and associate Emilie Veyran-Müller (all finance).

Involved fees earner: Anne Grewlich – Ashurst; Gabrielle Metherall – Ashurst; Emilie Veyran-Müller – Ashurst;

Law Firms: Ashurst;

Clients: Pemberton;