Brussels private equity firm Sofina acquired a 17.5 percent stake in Hooglede, Belgium-based vinyl profile maker Deceuninck NV.
The move will ``safeguard the future of the company in the interest of all stakeholders,'' Deceuninck officials said in a news release.
Spokesman Ludo Debever said Deceuninck preferred Sofina to other investors because of its long-term investment culture, particularly with Belgian industrial companies like grocery giant Delhaize Group.
There is no indication whether members of the Deceuninck family who sold their shares to Sofina will use the freed-up capital to reinvest in the company, Debever said in an e-mail interview.
Five family members owned about 41 percent of the company prior to Sofina's stock purchase. None of the family members were active in the company, though Arnold Deceuninck is board chairman, and his brother, Willy, is vice chairman. Deceuninck will add one or two Sofina investors to its board, Debever said.
The company had 2005 sales of about $818 million.