Antwerp, Belgium-based Ackermans & van Haaren (AvH), a global investment firm, announced on Friday, August 11, that it has entered into an agreement with HAL Investments to acquire 40 per cent stake in Sliedrecht, the Netherlands-based IQIP Holding for €100M.
At the same time, Dutch-based MerweOord, the family holding company of the Van Oord family, will acquire 20 per cent of IQIP with a strategic option to increase its shareholding to 33.33 per cent during the course of 2024.
This development would result in an equal distribution of shareholding where HAL, AvH, and MerweOord will each hold an equal 1/3 stake in IQIP.
This transaction is subject to various closing conditions, including regulatory approvals.
IQIP, AvH, HAL, and MerweOord will work together to obtain all necessary merger clearances. It is expected that the completion of the transaction will occur in early 2024.
IQIP: Designs and assembles hydraulic hammers
IQIP designs and assembles hydraulic hammers and other (sets of) piling, handling, lifting, and subsea guiding equipment that is leased or sold globally across three core markets: Offshore Wind, Coastal & Civil, and Oil & Gas.
IQIP has also set its sights on venturing into emerging offshore domains such as decommissioning of oil & gas platforms.
Within Offshore Wind, IQIP offers crucial services such as pile-driving solutions, noise mitigation systems, and tools for lifting, upending, gripping, and guiding.
Post its demerger from IHC in March 2023, the company is making significant investments in its equipment fleet to prepare for the forecasted double-digit growth in the offshore wind energy
market.
Currently, the company employs 300 people worldwide.
In 2022, the company realised a turnover of €102M (€159M in 2021) and an operating cash flow (EBITDA) of €30M (€56M in 2021).
Robert Diepenbroek, CEO of IQIP, says “IQIP is one of the key players in the energy transition being a specialist in foundation techniques for offshore wind turbines. This growing and
important sector, given the many initiatives in the North Sea, is key for a more energy-independent Europe. We, therefore, feel very honoured that Ackermans & van Haaren will support us as a new co-shareholder.”
Ackermans & van Haaren: Investment group
Ackermans & van Haaren is a diversified group operating in 4 core sectors:
- Marine Engineering & Contracting
- DEME, one of the largest dredging companies in the world.
- CFE, a construction group with headquarters in Belgium.
- Private Banking
- Delen Private Bank, one of the largest independent private asset managers in Belgium.
- Asset manager JM Finn in the UK.
- Bank Van Breda, niche bank for entrepreneurs and the liberal professions in Belgium.
- Real Estate
- Nextensa, a listed integrated real estate group.
- Energy & Resources
- SIPEF, an agro-industrial group in tropical agriculture.
In 2022, at an economic level, the AvH group represented a turnover of €5.7B and employed 21,453 people through its share in the participation.
Co-CEO John-Eric Bertrand and André-Xavier Cooreman, member of the executive committee of AvH, say, “We are pleased to announce this investment in IQIP, which fits well in the AvH Growth Capital portfolio as it is also ‘part of the solution’ by contributing to the renewable energy transition.”
“We look forward to partnering with IQIPs management team and supporting them in their continuous efforts to offer innovative and cost-efficient solutions to their customers. Additionally, we look forward to actively supporting IQIP, together with HAL and MerweOord, in order to create long-term shareholder value,” they add.
Read the orginal article: https://siliconcanals.com/news/ackermans-van-haaren-to-acquire-iqip/
