Torqx, a private equity firm, completed the acquisition of a majority stake in ELCEE, a fabless supplier of mechanical components and assemblies for a wide range of industries, from Rivean Capital, a European private equity investor. Financial terms were not disclosed. With Rivean Capital’s support, ELCEE has evolved beyond its Dutch origins to become a pan-European industrial supplier driven by an active buy-and-build strategy. Coming from 9 separate operating companies and refining the ELCEE strategy as of 2018, we created a solid platform ready to facilitate the next phase of profitable growth. Going forward Torqx is a partner that shares our vision and values and has a proven track record of building better businesses in a wide range of manufacturing- technical distribution- and other, mostly B2B industries. With Torqx as our partner and Prins in our group, we will have more resources, capabilities and opportunities to grow and develop ELCEE further,” Peter Fluitsma, ELCEE CEO.