Buyouts & Growth
In the private equity market, experience, solid reputation, an extensive network, expertise and international presence are particularly important assets. The buyouts and growth teams possess all these assets in house, making them key players in this market. Teams’ thorough knowledge of their local markets, the regional anchoring with offices in Belgium, the Netherlands and France and the extensive network of expert advisers make Gimv a valuable investment partner.
The fact of being able to invest both from its own balance sheet and via various funds which it manages makes Gimv a solid investor with a clear long-term perspective. Portfolio companies can therefore develop their growth strategies without any doubt as to Gimv's commitment. Scana Noliko and De Groot Fresh Group are both testimony to this: after growth journeys of more than 5 years both companies were successfully exited last year.
For new and existing portfolio companies the watchword remains 'growth'. In this way Gimv invested in XL Video and Trustteam, two companies keen to respond appropriately to the consolidating growth markets in which they operate with both organic and external growth. Verhaeren is also applying the same buy-and-build strategy. After a number of acquisitions and last year’s merger with Kembo, the Verhaeren-Kembo Group is now among the top 3 in road and sewer construction in Belgium.
Gimv profiles itself in the first place as a reliable and experienced coach, against which portfolio companies can bounce off their ideas both formally and informally. By offering knowledge and vision in this way, Gimv goes beyond its role as provider of funds. For this the buyout team is composed of people with financial, strategic and operational backgrounds. Add to this the recourse to other entrepreneurs and industrial partners, and it is immediately clear that this approach provides high value added to investee companies.
Gimv also attaches great importance to the internal exchange of knowledge. From this vision it supports close interaction between the buyout- and the venturecapitalteams, which can make the vital difference. The investment in Dutch medtech company Oldelft Ultrasound is a good example of this.
Studiekring is the Dutch leader in study counselling, additional tuition of and exam training for students in the Netherlands. The company's business model is based on a number of trends: increasing performance pressure on students, with the labour market requiring ever better educated entrants, and parents with insufficient time to keep up with developments at their children's schools.
Utrecht-headquartered Studiekring has grown rapidly over the past 10 years. Between 2000 and 2010 it opened more than 50 facilities and another 20 last year. Capital is needed to maintain this rate of growth. In August 2011 Gimv took a shareholding in Studiekring alongside the 2 founders, in the belief that this business model forms a healthy and well-considered base for further growth.
Gimv is doing more, however, than simply providing additional growth capital. It is bringing in its own network of employees and industrial experts to provide Studiekring with a solid and professional organisation. A structure that allows further growth but also benefits the quality of its key activities of assisting students in successfully completing their education. www.studiekring.nl
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International energy company Electrawinds generates green electricity and develops solutions for the optimal processing of organic waste flows. Since being founded in 1998, Electrawinds has evolved from a family business to a reference company operating in several European and African countries. Electrawinds develops, builds and operates high quality, innovative installations that generate green electricity from wind, sun and biomass.
Installed capacity right now is 200 MW, with Electrawinds planning to double this over the next three years. For this, Electrawinds needs capital, and Gimv is here a privileged partner. In 2008 and 2009 Gimv-XL already invested in this Ostend-based green electricity provider. Electrawinds is a Flemish growth company, operating in a booming market, with a healthy diversification and motivated management.
Gimv is in this story more than a growth capital provider. As a partner Gimv helps with Electrawinds' strategic development by sharing its knowledge and applying a multidisciplinary approach which is able to bring together various forces - cleantech, growth financing and infrastructure (through DG Infra). For this, Gimv sits in the Electrawinds Strategic Committee. In this way Gimv fulfils its role as a catalyst for the further growth of Electrawinds into a mature company in the longer term. www.electrawinds.eu
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With EUR 609 million, Gimv-XL is the largest fund ever for midcap companies in Flanders and Brussels. Gimv and the Vlaamse Participatiemaatschappij have each invested EUR 250 million, with the remaining EUR 109 million coming from institutional investors and wealthy families.
Gimv-XL focuses on ambitious projects and full-blooded entrepreneurship. The investment horizon is 7 years, with Gimv-XL keen to create value as a long term partner with the management of its investee companies. How? Through active guidance with expansion, operational improvement and financial optimisation.
Since being founded Gimv-XL has already invested a quarter of a billion euros in 5 prominent Flemish growth companies.
Electrawinds - 240 employees - EUR 110 million net sales - www.electrawinds.eu
Punch Powertrain - 480 employees - EUR 100 million net sales - www.punchpowertrain.com
PinguinLutosa - 2 600 employees - EUR 800 million net sales - www.pinguinlutosa.com
Vandemoortele - 5 000 employees - EUR 1 250 million net sales - www.vandemoortele.be
XL Video - 230 employees - EUR 74 million net sales - www.xlvideo.com
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