Gimv invests in buy-and-build strategy of Dutch X-ray technologies company Claymount Gimv invests in buy-and-build strategy of Dutch X-ray technologies company Claymount Gimv invests in buy-and-build strategy of Dutch X-ray technologies company Claymount

Gimv invests in buy-and-build strategy of Dutch X-ray technologies company Claymount

Portfolio

Gimv announces that it invests in the management buyout of the Claymount Group of Companies, a fast-growing niche player for the X-ray industry. Gimv acquires a 42.5 percent stake in the Group. CEO Jeffrey R. Tierie and other management team members will retain the remaining shares.

Claymount (www.claymount.com), founded in 1984, has grown into a worldwide market leader in high-voltage cable connection systems and system components for X-ray equipment manufacturers serving both healthcare and industrial applications. These components are highly-customised and need to be able to work in critical and high quality circumstances, conducting up to 350,000 volts. Claymount serves its key markets with branches in Europe (Netherlands, Italy), North America and Asia (China and Philippines). The company currently employs more than 150 (FTE) people, and realised a turnover of EUR 15.2 million in 2008. In the coming years both management and shareholders will aim at reinforcing the group’s growth, both organically as well as by pursuing an active buy-and-build strategy.

Bert Bolkenstein, member of Gimv’s advisory board for Buyouts & Growth in the Netherlands, will become chairman of the supervisory board of Claymount.

Jeffrey Tierie, CEO Claymount, comments: “Turning the Claymount Group into a "one stop shop" of X-ray system components and modules for these high quality demanding niche markets like the medical and industrial X-ray industry is impossible without a strong sustainable partner. We have found such a partner in Gimv, with whom we will jointly take up these market challenges. I am excited and thrilled about our co-operation and the possibilities it will create for the Claymount group and its customers”.

“In the medical equipment industry and in particular the medical X-ray segment, a number of interesting developments is underway which we like to support. Jeffrey Tierie, who succeeded his father in 2002, is a real entrepreneur with strong ambitions for growth. The combination of the right moment and possibilities for future growth makes Claymount an attractive investment for us”, says Pascal Slavenburg, Senior Investment Manager at Gimv, about the investment in Claymount Technologies.

All parties involved have decided not to disclose any financial details on this transaction.