Triton to acquire VolkerWessels Telecom
Funds advised by Triton ("Triton") have signed an agreement to acquire 100% of VolkerWessels Verbindingen en Netwerken B.V. (“V&N Group”), a company indirectly fully owned by Koninklijke VolkerWessels B.V. (“VolkerWessels”) and controlling the entities Visser & Smit Hanab B.V., VW Telecom B.V. and Homij Technische Installaties B.V. (the VolkerWessels Energy, Telecom and Technical Installation companies cluster). The transaction is still subject to the advice of the central works council of VolkerWessels and customary regulatory approvals. Other terms and conditions of the transaction are not disclosed. Completion of the transaction is expected to take place in Q3 of 2024.
V&N Group is a leading multi-utility service provider with dedicated focus on sustainable and digital solutions in the fields of energy & utility, connectivity and building installation services. The company is present throughout the Netherlands and each of its entities are partners of choice for the main public and private clients in their respective business areas. The Group’s 3,100 employees offer integrated solutions including feasibility studies, advice, design, installation, realization, and maintenance throughout the Netherlands and in Germany.
VolkerWessels took the decision to pursue a sale of its Energy, Telecom and Technical Installation companies cluster following a strategic review which resulted in the decision to focus on its activities in construction & real estate development in the Netherlands and Germany and its infrastructure activities in the Netherlands, the UK and North America.
Triton has a 25-year track record of successfully building and growing its investments in businesses in V&N Group‘s sector across Europe with investments in OCU Group and EQOS among others. The firm is also an experienced investor in the Netherlands, having invested in and significantly supported the growth of companies such as technical services provider Unica. Triton is acquiring V&N Group with a strong belief in the growth potential of the company and its long-established customer relationships, which Triton plans to further invest in. The acquisition builds on Triton’s established reputation as a reliable new home and a good cultural fit for corporate carve-outs as well as family-owned businesses.
Koos van de Linde, Investment Advisory Professional at Triton said: “We have been really impressed with the track record of V&N Group and its management team under the stewardship of VolkerWessels, which has been instrumental in helping accelerate the energy transition, digitalization, and housing needs of the Netherlands. We look forward to working with the management and employees of V&N Group in their next phase of growth and to continue building on the strong relationship between V&N Group and VolkerWessels.”
Stanley Maas, CEO of V&N Group said: “I am looking forward to accelerate the growth necessary to address the opportunities arising from the energy and digitization transition with Triton and I am convinced that the transaction will be beneficial to our employees, clients and other stakeholders.”
VolkerWessels has been advised by ABN AMRO Corporate Finance, ING Corporate Finance and De Brauw. Triton has been advised by Emendo Capital and Clifford Chance.
