Halder buys Benelux engineering assets

The middle-market buyout subsidiary of listed Belgian investment group GIMV has acquired Geveke Werktuigbouw, Proquip and Geveke Climate Technology for an undisclosed sum.

Halder Netherlands has agreed to buy the Benelux-based Geveke group of mechanical engineering supply companies in an MBO. The group comprises the Geveke Werktuigbouw, Proquip and Geveke Climate Technology companies in Holland and Belgium.  
 
All three companies, as well as exclusive rights to the Geveke name and logo, will now be owned by Halder and their existing management teams. No financial details of the transaction have been disclosed.
 
Financing for the transaction was supplied by CenE Bankiers Coporate Finance, a division of F. van Lanschot Bankiers.
 
Geveke Werktuigbouw is a Dutch company with roots dating back to 1874. It supplies and services products including pumps, climate technology, plastic machinery and compressed air systems to the mechanical engineering sector. Its customers include companies from the oil, gas, chemical, petrochemical, and construction industries.
 
The other two companies make up Geveke's Belgian operation, with Proquip specialising in pumps and filtration, and Geveke Climate Technology operating in the heating and air conditioning market. Between them, the three companies employ 180 people and had combined sales figures of €43.9 million last year.
 
The group’s CEO Arnoud Wiezer said in a statement that Geveke intended to achieve growth by 'providing a total package of services for both pre- and after-sales'.
 
Halder is a subsidiary of GIMV, the Belgian venture capital firm which manages over €1.2 billion of assets and has been listed on Euronext Brussels since 1997. Halder focuses on buyouts valued at up to €125 million. Its portfolio includes construction supplier Holonite, retail company Euretco, press agency ANP and sports retailer Beve Zwerfsport.
 
Last month, Halder sold German PVC window profile manufacturer Gealan for an undisclosed sum.