Gilde, the Dutch private equity firm, has backed the management buy-out of Codi International, the Dutch manufacturer of wet-wipes, with a view to cashing in on the market's double-digit growth over the past few years.

The investment was made by Gilde Participaties, one of Gilde's funds that is focused on small to medium-sized buy-outs in the Dutch market. Financial details were not disclosed. Codi has a gross turnover of €80m ($73m), and produces wet-wipes for brands such as Nivea, the personal care products brand, and domestic cleaning brands Domestos and Cif.