Kempen European Private Equity Fund to invest in Tellus.

The Kempen European Private Equity Fund agreed to acquire a direct interest in a Tellus Group, formed as a result of the merger of five regional campervan dealers in Norway. With its strategic spread, Tellus is market leader in Norway. Financial terms were not disclosed. Tellus was formed by the merger of five Norwegian campervan dealers with a total of ten locations. The new group employs 120 people. The ten locations are state-of-the-art motorhome dealerships, located strategically across Norway. "The ten locations were brought in by the five current founders/managers who are seeking to pool their resources in the Norwegian campervan and caravan market. Tellus is active in selling both new and previously owned vehicles. The newly formed group will be able to achieve significant benefits of scale, including greater purchasing power of campervans and caravans from manufacturers, more efficient stock management, better financing conditions, and centralisation of support functions," Sven Smeets, Kempen Managing Director.