Innovation efforts pay off – Gilde Buy Out Partners invests in Esdec

Amsterdam – On 22 March, Gilde Buy Out Partners joined Esdec as a new shareholder. Esdec develops, produces and delivers professional mounting systems for solar panels. The fast growth and the innovative characteristics of Esdec, have fuelled Gilde's ambition to play an important role in supporting the existing management team in realizing the company's growth ambitions. With this transaction the shares of investors Holland Venture and Dolfin Capital will be acquired by Gilde.

With its innovative mounting systems, Esdec is playing a key role in addressing the growing demand for solar energy. In 2017 the production of solar energy grew with an impressive 40%. The focus on innovation did not go unnoticed as Esdec won the Solar Innovation Award 2017 and it was nominated as FD Gazellen 2017.

Innovation

Investing in innovation is key for Esdec. "The continuous quest for smarter, better and faster solutions for our customers is our main driver, every single day.", according to Stijn Vos, CEO and shareholder of Esdec. To maintain the position as market leader, the innovation engine continues to run at full speed. Esdec again introduced a new range of products this month, has strengthened its management team with a director Technology and Innovation, has extended its R&D team from 2 FTE to 10 FTE and has started construction of its 1000m2 innovation centre. Overall, the number of employees has tripled in two years. Vos added to this: "Together with Holland Venture and Dolfin Capital we have strengthened our market position significantly since 2015. I am grateful for their contribution which has brought Esdec to the point where it is ready for the next growth phase with Gilde."

"Esdec stands out due to its strong product portfolio and fast growth. We are impressed with what the management team has achieved in recent years, together with Dolfin and Holland Venture, as well as by innovations currently being developed. We see numerous possibilities to further accelerate growth in this next phase for the company, together with the management, in both the EU and in the USA, and both organically as well as through acquisitions.", according to Maurits Boomsma, Partner at Gilde Buy Out Partners.

International sales

In a rapidly growing market which initially was driven by subsidies and now has really opened up due to a decrease in solar energy costs, Esdec focuses on key markets: Benelux, France, the Nordics and USA. In the EU and USA, it has recently hired multiple international sales managers. "Under the leadership of Stijn Vos, Esdec has accomplished a lot. This is apparent in the significant expansion of the (R&D) team, the international expansion that was realized and the move to a new facility, four times the size as the old one. The company is now ready to seize the enormous growth potential in the market. We wish the new shareholder Gilde the best of luck with this next step!" says Hubert Verbeek, Managing Partner Holland Venture.

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About Esdec

Esdec develops and manufactures professional solar panel mounting systems for any kind of roof. The innovative mounting systems ClickFit and FlatFix distinguish themselves due to their ease of installation without compromising on either the reliability or the durability of the product. Since the foundation of the company in 2004, more than 5 million solar panels with a combined power output of more than 1.5 GWp, have been installed worldwide on ClickFit and FlatFix mounting systems.

About Gilde Buy Out Partners

Gilde Buy Out Partners is a leading European private equity investor in mid-market transactions with operations in the DACH region and the Benelux. Gilde manages funds in excess of EUR 3.0 billion and has offices in Zurich, Frankfurt, Utrecht and Brussels. Since its inception in 1982, Gilde has invested in over 250 companies across a diverse range of sectors. With EUR 1.1 billion, the current investment fund Gilde Buy-Out Fund V is among the largest dedicated mid-market buy-out investment funds in Europe. Gilde controls majority shareholdings in, amongst others, companies like albelli, Oystershell Laboratories, Losberger, Amor, T-groep, Royal Reesink, Comcave, Riri, TMC, Royal Ten Cate and Enkco. For more information, please visit www.gilde.com

About Holland Venture

Over the past 35 years, Holland Venture has invested in more than 130 Dutch SMEs in a responsible and successful manner. With a clear investment strategy, Holland Venture is active in the growth markets of both healthcare and technology. The experienced and involved investment team knows what entrepreneurship is like. With the joint goal of achieving growth, Holland Venture strives for an open, sustainable and professional relationship with the management teams of the companies in which she invests. Holland Venture is supported by a broad network of successful healthcare and technology entrepreneurs.