Advent International to acquire Ammeraal Beltech from Gamma Holding
Leading global developer and manufacturer of mission critical, consumable process and conveyor belt solutions acquired by global private equity firm Advent International
London – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has submitted a binding offer to acquire Ammeraal Beltech, one of the global leaders in light-weight process and conveyor belting, from Gamma Holding, a holding company owned by Gilde Buy Out Partners (“Gilde”) and Parcom Capital Management (“Parcom”). The terms of the binding offer have not been disclosed. The relevant works councils of Ammeraal Beltech and other employee representative bodies will be consulted prior to formal agreement. Completion of the transaction is subject only to merger clearance and other customary conditions.
Headquartered in the Netherlands, Ammeraal Beltech manufactures, distributes and services conveyor belts for a diverse range of applications in light industries, including food processing, automotive, logistics and textiles. The company provides products to more than 25,000 customers in over 150 countries through its nine production plants and over 80 service centres.
Since its formation in 1950, Ammeraal Beltech has been at the forefront of manufacturing innovative belting solutions. Through its purpose built R&D centres, the company develops and launches new materials, products, accessories, profiles and tools and consequently has the largest portfolio of belting products worldwide and is renowned for its high quality, performance and customer service.
Last year, Ammeraal Beltech generated a turnover of EUR 325 million, a significant proportion of which was derived from the maintenance, replacement and upgrade cycle of process and conveyor belting.
Jan Janshen, Managing Partner, Advent International, said:
“We are delighted to partner with Ammeraal Beltech as it enters the next phase of its development. Advent’s expertise and global network will help the business accelerate its already growing international presence, particularly in China and the Americas, while maintaining investment in product development, ensuring customer satisfaction and product quality continues to improve.”
Michael Vogel, Chief Executive Officer, Ammeraal Beltech, added:
“Advent’s investment marks an important milestone in Ammeraal Beltech’s history. Their experience and knowledge of the industrial sector, coupled with their international footprint and hands on approach to value creation will be of great benefit to the company as we continue to consolidate and build our competitive position.”
Jan Albers, Chief Executive Officer, Gamma Holding added:
“Under the stewardship of Gilde and Parcom, Ammeraal Beltech has been able to implement a strategic agenda positioning it for strong growth in the years to come. Under the wings of this strong new owner, Ammeraal Beltech will be optimally positioned to capitalise on its full potential. We wish Ammeraal Beltech, its management and employees and Advent all the very best for the future.”
Advent is one of the leading private equity investors in the industrials sector, having invested in over 60 companies across 23 countries, over the last 23 years. Over the last year investments in the sector include Distribution International, the leading distributor and fabricator of mechanical insulation and related products in North America; GTM, the second-largest chemical distributor in Latin America; and Corialis, a leading European aluminium profile manufacturer.
William Blair acted as exclusive financial advisor to Gamma Holding and its shareholders and Jefferies acted as exclusive financial advisor to Advent in connection with this transaction.
Fergus Wheeler / Emily Desmier / Ellie Fixter
Tel: +44 20 3727 1522 / 1233 /1170
Gilde Buy Out Partners
Director Investor Relations
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in more than 300 private equity transactions in 40 countries and as of December 31, 2014, had €27 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 180 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit www.adventinternational.com
About Gilde Buy Out Partners
With offices in the Benelux and DACH region, Gilde Buy Out Partners is a leading European private equity investor in mid-market transactions. Founded in 1982, Gilde has been supporting management teams in over 100 buy out transactions. Today Gilde manages funds in excess of €2 billion and has a controlling interest in companies such as CID Lines, Roompot, Axa Stenman, Comcave, Spandex, Riri, Teleplan, Powerlines and HG. For more information, visit www.gilde.com
About Parcom Capital
Parcom Capital is a leading mid-market private equity firm in the Benelux with a mid- to long-term investment horizon focused on distinctive value creation strategies. It was founded in 1982 as one of the first buy-out and expansion capital providers in the Dutch market. Over the past 30 years, Parcom Capital invested directly in more than 75 (international) companies, was involved in numerous add-ons and helped multiple management teams in realizing their growth ambitions. For more information, visit www.parcomcapital.com