IES receives investment from the Apax Global Impact Fund

Apax

Integrated Environmental Solutions (IES) has announced today that it is set to receive strategic investment from the Apax Global Impact Fund, advised by Apax Partners LLP (“Apax”), in a move that is set to accelerate the company’s growth and more rapidly achieve its mission to decarbonise the world’s buildings.

The deal, which will see the Apax Global Impact Fund acquire a controlling stake, subject to customary antitrust approvals, marks the first climate-focused investment by the fund, with IES’s focus on decarbonisation aligning closely with Apax Global Impact’s thematic focus on reducing environmental harm and resource use.

IES delivers innovative technology solutions and consultancy services to help decarbonise buildings, communities, and cities. Supporting resource-efficient and cost-effective built-environments, IES simulates and analyses data to give those involved in the design, retrofit and operation of buildings the information needed to make smarter, more sustainable decisions.

Over the past 30 years, the company has made a significant global impact, helping to improve the energy and carbon performance of an estimated 1.5 million buildings worldwide.

This investment will enable IES to scale to meet the ever-increasing demand for sustainability-focused tech solutions from building designers, owners, and tenants. The built environment is a significant contributor to global greenhouse gas emissions. IES, which is home to the largest building physics analytics team in the world, is able to leverage its software and consultancy capabilities to tackle the built environment’s climate footprint, supporting clients to improve the energy efficiency and decarbonisation of complex buildings, adhere to regulatory and voluntary compliance, and ultimately reduce lifetime building energy costs and carbon emissions.

Don McLean, Founder and CEO, IES, commented: “I’m incredibly proud of the IES team for the success we have achieved over the last thirty years, and in Apax we have found a likeminded partner who is ideally placed to help us in the next stage of our growth journey. Buildings and cities have the potential to make the biggest impact in reducing carbon emissions globally. This investment, and the support of the Apax Impact team, will empower us to support ever more clients around the world in creating a built environment that is resource and energy efficient.”

Edward Donkor, Partner, Apax Global Impact team, said: “We couldn’t be happier to be partnering with Don and the entire IES team in their mission to decarbonise the built environment. This partnership marks the first climate-focused investment for the Apax Global Impact Fund, and we see huge potential for IES’s pioneering software.”

Chris Robinson, Principal, Apax Global Impact team, added: “As we collectively progress towards Net Zero goals, innovative technology such as that offered by IES will prove critical in the transition to a more sustainable future. We look forward to working closely with the IES team on our joint vision for the company, harnessing IES’s market-leading software to solve some of society’s biggest climate challenges.”

Apax was advised by Travers Smith (lead counsel), Alantra (M&A advisor), CIL (commercial advisor) and EY (financial and tax advisors). IES was advised by KPMG (financial, tax and legal advisor).

–      ENDS  –

About Integrated Environmental Solutions

IES is a global climate tech company delivering innovative technology solutions and consultancy services to decarbonise the built environment. Over the last 30 years, they have built a solid reputation as the leading global innovator in integrated performance-based building analysis and are now home to the largest building physics analytics team in the world.

Supporting energy-efficient, healthy and cost-effective built-environments, IES’ digital twin technology provides those involved in the design, retrofit and operation of buildings the information needed to make smarter, more sustainable decisions with confidence.

For more information see: www.iesve.com

About Apax & Apax Global Impact

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies.

Apax Global Impact seeks out opportunities to support companies which deliver tangible societal and/or environmental impact. The strategy revolves around themes including Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers. Apax Global Impact leverages the deep expertise of the Apax sector teams, the strength and global scale of the Apax platform globally, and the value creation potential of Apax’s Operational Excellence Practice.

For more information see: www.apax.com.

GLOBAL MEDIA CONTACT

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

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SealteQ Group finds partner in Quadrum Capital

Quadrum Capital

Stadskanaal/Almelo, 15 February 2024 – SealteQ Group and investment company Quadrum Capital join forces. SealteQ specializes in protecting, strengthening and maintaining concrete and steel structures. The partnership aims to continue SealteQ’s strong growth of recent years. __

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SealteQ, formerly known as Frans Nooren and currently led by Martin van der Leest and Robert Lunenborg, celebrated its 50th anniversary last year. During this period, the company has grown into a leading player in the field of concrete and steel preservation. With approximately 250 specialists and seven offices, high-quality and innovative solutions are provided for technical maintenance challenges both in the Netherlands and abroad. SealteQ operates in various sectors, including infrastructure, energy, industry, civil engineering and residential and commercial construction.

Following the intended participation, the board of SealteQ will exist of Martin van der Leest, Robert Lunenborg and Peter Westra. Together with Quadrum, they will respond to the current challenges in the field of foundation repair and the backlog in maintenance and life extension of crucial infrastructure. The expansion of its geographic presence and the addition of specialistic expertise will be important strategic pillars.

“Quadrum is the perfect partner for us to realize these growth ambitions. Our independently established platform in the specialized maintenance market can be further expanded through this partnership, both domestically and internationally. This partnership represents a solid step to continue the growth of SealteQ. In the partnership with Quadrum, creative entrepreneurship is endorsed in an identical way. This gives confidence in a market that is constantly challenging us,” said Martin van der Leest.

Hedzer Wester, Investment Manager at Quadrum Capital: “The level of craftmanship, innovativeness and entrepreneurship within the company is impressive and have made SealteQ a market leader. We look forward to supporting the company in its growth ambitions and working with Martin, Robert, Peter and the rest of the SealteQ team to take the next steps.”

Financial details of the transaction will not be disclosed. The transaction is subject to approval of the Consumer & Market Authority. The investment in SealteQ will take place from Quadrum Investment Fund IV.

About SealteQ SealteQ protects and preserves civil engineering, infrastructure and industrial structures as well as real estate objects in the residential and utility sectors. With a Dutch focus but with a global perspective, SealteQ extends the life of concrete and steel structures. They achieve this by providing innovative customized solutions with the aim of protecting the structures against external influences. In this way, they are preserved for the future. For more information, go to https://www.sealteq.nl/

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Gimv invests in Castelein Sealants to accelerate European growth

GIMV

Gimv invests in the Castelein Sealants group together with management and investment fund Akiles. The company, founded more than 15 years ago by Christophe Castelein and Valérie Bioul, offers a wide range of customized air and water sealing solutions, contributing to the sustainability of existing and new buildings.

Castelein Sealants develops, produces and distributes air and watertight sealing products for the facade and window sector. The company produces made-to-measure sealants and delivers them just-in-time, which optimizes the construction process and greatly reduces site waste.

Since its incorporation in Belgium, the company has grown strongly in the Netherlands and Luxembourg in recent years, partly since the entry of Akiles. The strengthened cooperation between Gimv, Akiles and management is part of a new Europe growth phase, in which the company initially wishes to invest further to accelerate its current growth in France.

Gimv has extensive experience in helping European companies realize ambitious growth plans with the aim of creating sustainable value for the economy and society. The Gimv Sustainable Cities team is fully committed to investments that contribute to sustainable urbanization. The solutions offered by Castelein Sealants contribute to making new and renovated buildings more sustainable and meeting the latest energy efficiency criteria. This is essential for realizing the energy transition and fits perfectly within the team’s investment strategy.

Christophe Castelein and Valérie Bioul, co-CEO’s of Castelein Sealants, declare: We are very excited to join forces with Gimv to write a new chapter to our European growth story. After an already successful first entry of Akiles, we have resolutely chosen Gimv in the context of further professionalization and internationalization, founded on mutual trust and a common vision. This partnership with Gimv solidly anchors Flemish innovation and sustainability in our region.

Ruben Monballieu and Catharina Soenen, Partner and Principal Gimv Sustainable Cities, add: “We are delighted with this new investment in Belgium. The unique match between Castelein Sealants’ mission and our platform strategy makes this a promising addition to our portfolio. We can’t wait to realize the European growth plans together.

Christophe Rousseaux en Laurent Puissant, both Partner at Akiles, declare: “We share with enthusiasm the progress made since our investment in 2020. Together with founders Christophe and Valérie, we were able to strengthen the structure and team, in line with our strategy as a minority investor in Belgian SMEs. This puts Castelein Sealants in an even stronger position to take new steps towards larger international markets together with Gimv, management and Akiles.

 

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Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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Ratos company SSEA wins prestigious contract to build new town hall in Ängelholm, Sweden

Ratos

The winners of the construction and architecture competition “Ängelholm’s new town hall” have now been presented. The Ratos-owned construction company SSEA (a part of SSEA Group) has been selected, together with the architect firm Liljewall, to design and construct the new town hall. The town hall is expected to be a spectacular meeting place.

The project was announced as an architecture and construction competition at year-end 2022. The turnkey partnering project will commence immediately with project planning. The town hall is expected to be complete in 2026/2027

“Winning such a prestigious contract is an indication of the strength of Ratos’s infrastructure and construction operations. With its partnering model and expertise, SSEA is a leader in the industry, even in a tougher macroeconomic climate. We are delighted to have secured yet another high-profile sustainable construction project in our portfolio as sustainable buildings are profitable for everyone involved,” says Christian Johansson Gebauer, Chairman of the Board of SSEA Group and President, Business Area Construction & Services, Ratos.

The new town hall will be a spectacular meeting place. The building will act as a model for sustainable construction and architecture. Timber frames and recycled brick are important steps in achieving a low climate impact. The building will be designed in accordance with the Breeam Excellent and Well Gold sustainability certifications.

“We are very pleased to be involved in the construction of the landmark that Ängelholm’s new town hall will become, from both an architectural and a sustainability perspective. We are truly looking forward to designing and constructing Ängelholm’s new meeting point together with Ängelholm Municipality and Liljewall Architects,” says Christian Wieland, CEO of SSEA Group.

About SSEA
SSEA is part of the Ratos-owned construction group SSEA Group. SSEA has solid expertise in carrying out large and technically complex collaboration/partnering projects. SSEA carries out construction projects for customers in the private and public sectors across Sweden. The head office is located in Stockholm, with regional offices in Malmö and Luleå. The project portfolio includes Sweden’s tallest timber building, Sara Kulturhus in Skellefteå.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Christian Wieland, CEO, SSEA Group, +46 70 654 09 30

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 33 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Activa Capital sells its stake in Explore Group

Activa Capital

Activa Capital sells its stake in the capital of Explore Group, the leading provider of construction and
commercial project tender information, in favor of Intescia as part of a strategic alliance.
Founded in 1997 by Laurent Nicouleau and Philippe Raison, Explore Group has firmly established itself
as the foremost provider of information regarding tenders in the construction and commercial project
sector in France.

The acquisition of Explore Group will consolidate Intescia’s position with a unique portfolio of solutions
covering construction, real estate, business services, healthcare, and retail, serving over 20,000
customers and 100,000 users in Europe.

This recent transaction comes merely four years after Activa Capital’s initial commitment. During this
period, Explore Group has notably acquired 3 highly complementary companies, enabling the
expansion of its solution portfolio and distribution channels, reinforcing the verticalization of its
offerings, and consolidating its leadership in the real estate and construction sector.
« The alliance between the Intescia and Explore groups represents a unique opportunity to create the
European leader in BtoB business intelligence solutions based on a unique platform of brands and
services. This is the culmination of a project that began 25 years ago, accelerated by Activa Capital’s
support as part of our growth and development dynamic » said Laurent Nicouleau and Philippe Raison
founding directors of Explore.

« We are very proud to have supported the Explore Group during the 2019 primary LBO alongside the
founders and their team. With 3 acquisitions, Explore has achieved remarkable growth, doubling in size
over the period. We will continue to closely monitor this exciting industrial alliance, which is creating
the first European business intelligence platform based on AI. We wish all the best to the teams involved
in this new partnership.» added Christophe Parier and Alexandre Masson, Managing Partners of
Activa Capital.

Participants
Acquirers
Intescia: Yannick Dupuch, Damien Le Berre
Five Arrows : Younes Zemmouri, Victor de Tracy, Morgane Casalta, Lauriane Cadiou
Advisor to the acquirers
M&A: Amala Partners (Jean-Baptiste Marchand)
Transaction Services : Alvarez & Marsal (Frédéric Steiner, Simon Regard)

Lawyers: McDermott Will & Emery (Grégoire Andrieux, Fabrice Piollet)
Sellers
Activa Capital: Alexandre Masson, Christophe Parier, David Quatrepoint, Elliot Thiéblin
Management: Laurent Nicouleau, Philippe Raison
Advisors to the sellers
M&A: Bryan Garnier (Thibaut de Smedt, Stanislas de Gmeline, Jonathan Bohbot, Paul
Wertheimer, Théo Demeusoy)
Transaction Services: Iteraxon (Nicolas Bayle)
Lawyers Activa Capital: Hogan Lovells (Florian Brechon, Stéphane Huten, Shanna Hodara,
Guillaume Denis)
Lawyers founders: Fidal (Jean-François Yerle, Jironi Harivel)
About Explore Group
Explore Group is a leading player in B2B data intelligence with undisputed expertise in real estate and
construction. Building on 25 years of expertise, Explore Group is home to several brands including Explore,
the leading French provider for construction project intelligence, Wanao for public tender management,
Sendao for fully-outsourced tender submission and Codata, the leader in retail and commercial real estate
data. Explore Group operates from offices in France, Belgium and Morocco. www.explore.fr

About d’Activa Capital
Activa Capital is an independent private equity firm, owned by its partners, characterized by a proactive
build-up strategy. It currently manages more than €300 million on behalf of institutional investors by
investing in French SMEs and ETIs with high growth potential and an enterprise value of between €20 and
€100 million. Activa Capital assists them to accelerate their development and international presence. To find
out more about Activa Capital, visit www.activacapital.com

Press Contacts
Alexandre Masson Christophe Parier
Managing Partner Managing Partner
+33 1 43 12 50 12 +33 1 43 12 50 12
alexandre.masson@activacapital.com christophe.parier@activacapital.com

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Ratos company Presis Infra secures new contracts amounting to NOK 2.3 billion in the first half of 2023

Ratos

During the first half of 2023, Ratos company Presis Infra, which specialises in the maintenance of critical infrastructure including ferry quay operation and maintenance, and rockfall protection in Norway and Sweden, was awarded new contracts amounting to NOK 2.3 billion. The contracts were signed with existing customers and with terms from 2023 to 2028.

“We are delighted that Presis Infra’s performance in the first half of 2023 was so positive. Maintenance of critical infrastructure will play an important role in the future, and Presis Infra has what it takes to succeed and the expertise to do so in a cost-efficient and sustainable manner,” says Christian Johansson Gebauer, Board member of Presis Infra and President Business Area Construction & Services, Ratos.

The contracts were signed with Norwegian municipalities, the Norwegian Public Roads Administration (NPRA) and the Swedish Transport Administration, and the projects encompassed by the contracts are spread throughout Norway and Sweden.

“We are proud of the confidence our client has shown in us and look forward to continuing our productive partnership. We are especially proud that we have significantly increased our market share in Norway while also securing two contracts in Sweden, which is a new market for us,” says Eivind Iden, CEO, Presis Infra.

Performance since Ratos acquired Presis Infra in 2021
Ratos acquired 75% of Presis Infra in 2021 as a platform investment in the expansive future industry of infrastructure maintenance. Since the acquisition, the company has continued to deliver a positive performance, with sales of NOK 2,344m in the last 12 months as of the end of the first quarter of 2023.

For more information and media, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Ratos companies Vestia Construction Group and HENT AS are building Kaj 16 – a new wooden landmark that will redefine the skyline of Gothenburg

Ratos

Ratos companies Vestia Construction Group (which is part of SSEA Group) and HENT AS are building, together with Vasakronan, Kaj 16 – a new landmark in Gothenburg. The construction cost for Kaj 16 is expected to amount to approximately SEK 1.6 billion, of which a significant part has been allocated to Vestia and HENT.

Kaj 16 was designed by the Danish architectural firm Dorte Mandrup and, at 78 meters, will be Gothenburg’s tallest wooden building. The project will be carried out in partnering and the objective is to minimize climate and environmental impact and to achieve certification according to LEED Platinum.

“This is a fantastically fun and developing project for both Vestia and HENT. Kaj 16 will be a project at the forefront of many current issues, including wooden construction, circularity, and digitization. We are now in the starting pits for projecting system action and continued calculation work. When the ground contract is complete, we will start the construction, according to the plan, it will be in the fall of 2024. Kaj 16 is planned to be completed in the summer of 2027,” says Christian Wieland, CEO of SSEA Group and board member of HENT AS.

“We are proud to have been trusted to build another landmark, also in partnering, which is something Vestia is really recognized as knowledgeable and at the forefront of. To also be able to do it together with HENT AS, and to realize the fine synergies that exist in the Ratos Group, is a big bonus. We have won the contract in tough competition with tough conditions in the operational environment ​​as a backdrop, which is really a quality stamp for the company, says Christian Johansson Gebauer, chairman of SSEA Group and HENT AS, and President, Business Area Construction & Services, Ratos.

About Vestia Construction Group
Vestia is active in the Gothenburg region with, among other things, the newly opened Åbybadet, the SEEL research center and the unique combination school + nursing home in Sandarna in the project portfolio.

About Hent AS
HENT AS has been the general contractor for many complex wooden house buildings, for example the world’s tallest wooden building Mjøstårnet (85.4 m), located approx. 120 km outside Oslo, and the Nordic region’s largest wooden house, Sara Kulturhus in Skellefteå.

For more information, please contact
Christian Wieland, CEO SSEA Group, +46 70 654 09 30
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 30 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Ratos company Vestia Construction Group wins new partnering contract with estimated budget of SEK 250m in Kungälv Municipality

Ratos

Vestia Construction Group (Vestia), a part of SSEA Group, will partner with Kungälv Municipality to renovate, rebuild and extend Ytterby School in central Ytterby. The project will provide the school with inclusive, efficient premises that are suited for modern education in a municipality with a growing number of residents. The project encompasses approximately 11,000 square metres, and the budget is estimated at SEK 250m.

Project planning will begin after summer 2023 and production will start in stages during the autumn. The project will be completed by year-end 2025. The oldest section of Ytterby School was built in 1952, and the school currently has space for 600 students from years 7 to 9. When the renovations and extension are complete, the school will be able to accommodate just over 700 students.

Vestia has extensive experience of partnering on school projects where the building stays open during construction. The renovation and extension will be carried out in stages. Affected classes will be moved temporarily and held in modular classrooms on the school premises.

“Buildings that are important to society, such as schools, are built and maintained regardless of the economy. SSEA Group and Vestia’s expertise and niche are especially attractive in this regard. In combination with the recognised efficiency and trustworthiness of their partnering model, this means that the company has a bright future despite a market with uncertain prospects when it comes to, for example, housing construction. We’re pleased to have secured yet another excellent contract,” says Christian Johansson Gebauer, Chairman of the Board of SSEA Group and President Business Area Construction & Services, Ratos.

“I’m proud that we have been entrusted to develop Ytterby School together with Kungälv Municipality. Although the Gothenburg metropolitan area is our home market, this is a new customer for us. Large, complex school projects that require renovations and extensions while the buildings remain in use are an area in which the entire Vestia team is experienced. We look forward to joining forces with Kungälv Municipality’s talented team. Together, we’ll deliver a sustainable educational environment with an eye on the future,” says Christian Wieland, CEO of SSEA Group.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Christian Wieland, CEO, SSEA Group, +46 70 654 09 30

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Rojo Steigerbouw acquires Post Steigers Schiedam

365 Capital

Delft-based Rojo Steigerbouw (part of Steeds Hoger Holding) has acquired Schiedam-based Post Steigers as of Wednesday 10 May. Post Steigers celebrates its 77th anniversary this year and since 2021 is mainly specialized in (inner-city) scaffolding construction and rental for renovation and maintenance. Financial details of the transaction will not be disclosed.

“Post Steigers complements our services in vertical construction logistics excellently,” says Managing Director Fred Enterman. Last year Rojo Steigerbouw acquired Nivo Steigerwerken (Klundert) and Mol Lifting (Dordrecht), now Post Steigers (Schiedam, 80 employees including subcontractors) is added. The acquisition creates a company with approximately 415 employees (partly subcontracted) with a consolidated annual turnover of more than €54 million.

Almost 1 million m2 of scaffolding material and 300 construction lifts

Fred Enterman: “Post has been active in the renovation and maintenance market (including periodic safety inspection) for many years and we strongly believe in the connection we are now making between the four companies mentioned. We have grown into the largest specialist in this field in the Netherlands.”

In total, the combination of companies has almost 1 million m2 of scaffolding material and almost 300 construction lifts in all kinds of variants.

Strong player

Mario Post, Director of Post Steigers Schiedam, sees this step for Post as a logical development in the current construction market. “The acquisitions that took place last year already resulted in the strong player that we will now fall under, but we fit seamlessly into this consortium with our expertise: we join forces, we can guarantee our customers an even better service and we contribute substantially to the growth of Steeds Hoger Holding. We are convinced that this acquisition will help us to achieve our ambitions and to further strengthen our position as a major player in inner-city renovation and maintenance,” says Mario Post, who will remain with Post Steigers.

Cor and Tim Post will leave the company after a transition period.

Hayo van Houten and Tim Hendriks of 365 Capital are proud that, together with the other shareholders, they have been able to reinforce the group further. “We welcome Mario Post as a new co-shareholder and look forward to continue building on the future of the leading Dutch player in the rental of scaffolding, support and construction hoists with the existing team of Rojo, Nivo, Mol and the Post team. ”

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Fronnt boosts its ambitious growth trajectory and energy transition mission with the entry of three new leading installation companies

GIMV

Fronnt, a group of installation companies founded in partnership with Gimv, welcomes three more leading installation companies. Besides the acquisition of Electro Verbeke in Deinze, Van Vooren/Setec in Bruges and TAC! (The Airconditioning Company) in Wilrijk join the group thanks to the pooling of forces with the investment company Tilleghem. Together they aim to accelerate the energy transition in Flanders.

Making buildings and industrial processes more energy efficient, electrifying heating and mobility, and implementing new technologies and business models are crucial to the success of the energy transition. For this, various technologies such as heat pumps, charging stations, solar panels and batteries must be able to interact with each other. Currently, this complexity is still too much placed on the customer. In response, Fronnt wants to completely unburden the customer by offering a multi-technical approach. To this end, Gimv and Fronnt bring together medium-sized installation companies, often of family origin, with a great deal of relevant knowledge and experience, based on the conviction that these forerunners, or “Fronntrunners”, can be even stronger in a larger context while retaining their own unique identity and customer service.

Fronnt was initially created in the first half of 2022 with the acquisitions of Lenaerts/LVR and ABN Klimatisatie. Not much later, Climawest and Sanitel also joined the group. Now, Fronnt is pleased to announce a further expansion of the group with the addition of Electro Verbeke, Van Vooren/Setec and TAC!. The acquisitions of the latter two companies came about through a joining of forces with the investment company Tilleghem. As a result, Tilleghem also becomes a shareholder of Fronnt to realise together with Gimv, the mission to make Fronnt the leading group of installation companies in Flanders.

Geert Fostier, CEO of Fronnt, on this important step forward: “Last year, in July, the first two companies jumped on the Fronnt-train, and shortly afterwards Climawest. With Van Vooren/Setec and Electro Verbeke we bring on board two companies specialised in electrical work, data systems and automation. TAC! (The Airconditioning Company) is a quality partner for HVAC and plumbing. Together with our existing companies, they further strengthen Fronnt’s DNA: guiding our customers through their energy transition by means of our integrated multi-technical approach. These three companies will find in Fronnt a large, stable and healthy group where they experience the benefits and operation of an SME.”

Ruben Monballieu, Partner at Gimv Sustainable Cities, adds: “These acquisitions mark an important step forward in our ambition to build a leading group of installation companies. We are excited about the growth trajectory we have achieved so far and look forward to further strengthening Fronnt and providing solutions to the challenges posed by the energy transition together with Tilleghem and all the passionate Fronnt entrepreneurs.”

Piet Van Waes, Partner at Tilleghem: “We are enthusiastic to join forces with Gimv, Fronnt and its cluster of strong installation companies. Our vision and strategy fit seamlessly with the path mapped out by the Fronnt managers and entrepreneurs. We share the ambition to build Fronnt into a sustainable and innovative player in the ecosystem of multifunctional installations and energy transition”.

 

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