Success stories

Gimv boosts ANP’s growth

" We remain in close contact with Gimv’s investment managers, which benefits the business."

ANP is the leading domestic supplier of news for Dutch newspapers, radio, TV and the internet. Its local position can be compared to that of press agencies like Belga in Belgium and Deutsche Presseagentur (DPA) in Germany. Established by the Dutch newspapers in 1934, ANP adapted to the changing environment of the media market and started operating as a private company in 2001. As part of the syndicate that undertook an MBO in 2004, Gimv acquired a 15% stake in ANP. At the same time, the ANP management increased its share to 10%. Since then, the company’s IT infrastructure has been strengthened substantially – one of the pillars to support broader and more differentiated client services. The company’s strong market position provides a key opportunity for growth. Instead of buying long-term subscriptions to ANP’s entire product offering, media clients gain access to customized news services over a more flexible timeframe. With its new services, ANP has successfully started to introduce value-based pricing which substituted the cost-plus model that dominated previous years. Luc van Gompel, ANP’s CEO since April 2007, explains how ANP has become a highly successful, market-oriented company.

Why did ANP opt for Gimv as an investor?
Historically, the Dutch newspapers have been ANP’s largest shareholders. As a large group of customers held most of the company, external financing was a delicate operation. Gimv took a first shareholding in the press agency in 2004. In 2007, it increased its interest by taking over the shares that were still held by the newspapers. Gimv’s investment team had carefully examined our case and reacted very alertly. Gimv’s partner shareholder, NPM Capital, held a similar stake in the company. Management holds a limited amount of shares too. Since the 2007 buyout, ANP has become totally independent.

What has been the most important advantage of your cooperation with Gimv?
Gimv’s financing has allowed us to distance ourselves from our founder newspapers. Gimv expertly accompanied this transition period. We remain in close contact with Gimv’s investment managers, which benefits the business, we can rely on monthly financial consultations, and we are well coached.

Does Gimv’s international network offer you added value?
The market we operate in is somewhat unusual, as each country has its own press agency. That does not mean that we do not have international aspirations. We very much hope that Gimv can support our ambitions. We are already successfully cooperating, for example, with the Belgian press agency Belga. The international growth strategy we are pursuing has been made possible in part by Gimv’s capital contribution.

Which growth opportunities do you see?
ANP continues to fulfil its role as a press agency, with the media as major customers, representing approximately one third of sales. Two thirds come from the business-to-business market. Delivery of photographic images is important. Creating news feeds for major companies is another significant area. ANP delivers news feeds, for example, to all Shell offices. These feeds are invaluable for companies that are keen to keep track of where and how they are mentioned in the press and which reports are published about specific subjects. Online media are the ideal channel for this.
 

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