KKR Acquires Potter Global Technologies


All Employees to Become Owners in the Company

ST LOUIS, Mo. & NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that investment funds managed by KKR have acquired Potter Global Technologies (“Potter” or the “Company”), a leading manufacturer of fire and life safety equipment, from Gryphon Investors. KKR plans to support the Company in its continued growth organically and through add-on acquisitions. Financial terms were not disclosed.

Headquartered in St. Louis, Missouri, Potter is a trusted global provider of fire safety and emergency communication equipment used by thousands of customers across diverse end markets including education, multi-family, industrial, and healthcare. Potter’s leading products are used for monitoring fire safety systems, detecting fires and other life-threatening events, and notifying and communicating with building occupants and first responders to ensure safe and efficient evacuations and responses.

“For over 125 years, the Potter brand has stood for safety and reliability in the face of potentially life-threatening risks to the thousands of people and institutions around the world who entrust their fire and life safety to Potter. We have been impressed by the Company’s history of innovation and commitment to provide its customers with high-quality, easy-to-use systems supported by incredible customer service,” said Brandon Brahm, Partner at KKR and Co-Head of KKR’s Ascendant strategy. “We look forward to collaborating with Gerry Connolly, the leadership team, and all of the employees at Potter as we embark on this new era in the Company’s growth and develop new ways to serve our customers and protect lives.”

“Potter’s growth is a testament to the performance of our talented team and to our reputation as a leader in the fire and life safety industry. Our mission to protect people, buildings, and critical infrastructure across the globe underpins everything we do, and we are excited to continue furthering this mission with KKR. We are aligned on Potter’s potential and look forward to continue serving our customers through accelerated new product innovation, superior customer service, and an expanded reach domestically and internationally. Implementing KKR’s equity ownership philosophy, which will make every employee an owner, will be instrumental in achieving our potential and we are looking forward to the exciting growth that all employees together will drive as co-owners in Potter,” said Gerry Connolly, CEO of Potter.

KKR will support Potter in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership of the Company. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-management employees across more than 35 portfolio companies.

Potter is the latest investment for KKR’s Ascendant Strategy, which invests in middle market businesses in North America as part of KKR’s Americas Private Equity platform. Other investments in the Ascendant strategy include Alchemer123DentistIndustrial Physics and a commitment to fund a new executive-led platform designed to acquire and build businesses in the Testing, Inspection, and Certification industry.

Baird and Baker McKenzie served as advisors to KKR.

About Potter:

Potter Global Technologies is the leading independent designer and manufacturer of life safety and emergency communication solutions. Through its various business brands, Potter provides fire suppression, alarm and communications systems, mass notification systems, first responder RF radio communications, and advanced power products. The company motto is “We Save Lives” and their employees appreciate the role they play and value working for a company that is making a difference through protecting people, property and critical infrastructure. Their mission is to make buildings and people safer from fire, natural disasters, and acts of violence. Throughout their longstanding 125-year history of developing industry leading technology, Potter has earned a reputation for best-in-class product quality and customer service. The company is headquartered in St. Louis, Missouri, with sales, engineering, and manufacturing centers in the Americas, Europe, and Asia. Discover more about Potter Global Technologies at www.potterglobaltech.com.

About KKR:

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

For Potter:
Eric Lauver

For KKR:
Julia Kosygina or Emily Cummings
(212) 750-8300

Source: KKR

Categories: News


HEXPOL acquires the American TPE Compounder Star Thermoplastic Alloys and Rubbers, Inc.

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HEXPOL has acquired 100% of the shares in the American TPE Compounder Star Thermoplastic Alloys and Rubbers, Inc. (“Star Thermoplastics”) from Thomas A. Dieschbourg. Through the acquisition, HEXPOL establishes presence on the growing American TPE market. Thomas A. Dieschbourg founded the company in 1993 and has developed the company into a technically advanced TPE company. Thomas A. Dieschbourg will remain as the President of the company.

“The acquisition of Star Thermoplastics is in line with our growth strategy and will enable HEXPOL to enter the American TPE market through a well-established company with a strong product portfolio.”

Peter Rosén, Acting CEO and CFO

“HEXPOL’s addition of Star Thermoplastics to HEXPOL TPE portfolio is a perfect fit. HEXPOL will provide enhanced capabilities and a better geographic reach. The transaction will be beneficial both to the Star Thermoplastics employees and to HEXPOL.”

Thomas A. Dieschbourg

Star Thermoplastics will enable us to replicate our successful European TPE growth journey on the larger American TPE market. Both our existing TPE companies in Europe and China and Star Thermoplastics will be stronger through this expanded footprint.”

Ralph Wolkener and Carsten Rüter, Presidents HEXPOL TPE Compounding

Star Thermoplastics currently has a turnover of approximately 20 MUSD with a profitability level below that of the HEXPOL Group. Star Thermoplastics has its operations near Chicago, Illinois, USA at one well-invested location with plenty of growth capacity and has some 30 employees. The main end customer segments are automotive, building & construction, medical, industrial, electronics and consumer.

The acquisition price amounts to 26.5 MUSD on a cash and debt free basis and is funded by a combination of cash on hand and existing bank facilities. Star Thermoplastics will be consolidated by HEXPOL from 1 November 2023.

For further information please contact:

Peter Rosén
Acting CEO and CFO

+46 (0) 73 656 49 34

HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Compounding), gaskets for plate heat exchangers (Gaskets and Seals), and wheels made of polymer materials for truck and castor wheel applications (Wheels). Customers are primarily system suppliers to the global automotive and engineering industry, building and construction industry and within sectors as transportation, energy, consumer and cable industry and manufacturers of medical equipment, plate heat exchangers and forklifts. The Group is organized in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2022 amounted to 22,243 MSEK and the Group has approximately 5,000 employees in fourteen countries. Further information can be found at www.hexpol.com.

Categories: News


Torqx Capital Partners acquires majority of the shares of ELCEE and Prins Castings & Forgings

Torqx Capital

Torqx Capital Partners (“Torqx”) is pleased to announce that it has acquired a majority share in ELCEE, a leading fabless supplier of mechanical components and assemblies for a wide range of industries. The company is active in the (co-)development, design, engineering, sourcing, supply chain-and inventory management of mechanical engineered parts. ELCEE is headquartered in Dordrecht and operates through local offices across Europe combined with technical support centers in China, The Netherlands and Poland.

Together with Torqx Capital Partners ELCEE straightaway acquires Prins, a supplier of tailor-made castings and forgings, headquartered in the Netherlands with sourcing & test centers in China and India. The Prins acquisition will complement ELCEE’s current product portfolio, customer base and geographic reach. By joining forces with Prins, the company will be able to offer more value-added solutions to customers and leverage synergies in operations, procurement, and engineering.

Torqx has followed ELCEE with great interest over the last years and is very familiar with its end markets and business model via relevant experience from previous investments. On the back of deep industry understanding and extensive experience, Torqx will support the management team to realize ELCEE’s future organic (and inorganic) growth plans. It is Torqx’ ambition to help ELCEE further develop into the undisputed market leader in its core countries.

Peter Fluitsma, CEO of ELCEE states that: “With Rivean Capital’s support, ELCEE has evolved beyond its Dutch origins to become a pan-European industrial supplier driven by an active buy-and-build strategy. Coming from 9 separate operating companies and refining the ELCEE strategy as of 2018, we created a solid platform ready to facilitate the next phase of profitable growth. Going forward Torqx is a partner that shares our vision and values and has a proven track record of building better businesses in a wide range of manufacturing- technical distribution- and other, mostly B2B industries. With Torqx as our partner and Prins in our group, we will have more resources, capabilities and opportunities to grow and develop ELCEE further.”

Marcel Pot, CEO Prins Castings & Forgings; “With over 85 years of experience, Prins has become a prominent supplier specialised in castings and forgings. Our journey reflects a commitment to quality and innovation, leading us from our origins as a trading entity to our present role as a valued business partner. Joining forces with ELCEE represents a significant milestone. This strategic collaboration, supported by Torqx’s experience and proven track record in building businesses, promises new opportunities and synergies. Together, we’ll leverage our combined strengths and resources to deliver even greater value to our customers and establish our position as a global market leader in the industry.”

Rik Leunissen, Partner at Torqx, further states that: “Over the last years, ELCEE has proven itself as the go-to supplier for customer-specific, mission-critical engineered mechanical components and assemblies. We admire ELCEE as a thriving enterprise that has achieved notable success over the past years and is set for the next phase of accelerated growth. Also, we believe it provides a unique opportunity to both companies to combine ELCEE and Prins as one group – with that further solidifying its market leading position in the Benelux and increasing scale in a.o. the German market. This will allow the companies to be able to become even more successful using ELCEE’s and Prins’ combined market power and scale. We are excited to partner with- and support management in further refining and executing their strategy, leveraging Torqx’ extensive experience with similar businesses and deep industry understanding.”

For this transaction, Houthoff and DLA Piper acted as legal advisors to Torqx, with PwC providing financial and tax due diligence services.

ELCEE is the go-to fabless supplier of mission-critical engineered and standard mechanical components and assemblies for leading manufacturing industries in North-West Europe. The company has approximately 250 FTE’s and is headquartered in Dordrecht, the Netherlands with local sales offices across Europe and technical support centers in China, The Netherlands and Poland. ELCEE provides in-house engineering support as well as quality control and inventory management and serves customers across the material handling, agri- & food processing, equipment manufacturing, construction- and shipbuilding industries, among others. ELCEE carries a strong engineering driven portfolio, as well as an assortment of products from world class brands Crosby, igus® and Wärtsila which are used as single assortments as well as in assemblies. For more information, please visit www.elcee.com.

About Prins Castings & Forgings
Prins is a supplier of tailor-made castings and forgings and helps out in the engineering, design, and quality control phases. Prins has approximately 50 FTEs, is headquartered in Amersfoort, The Netherlands and has locations in China and India to support local operations. Prins is stockholder for custom made products and serves a variety of industries a.o. railinfra-structure, earthmoving equipment, commercial vehicles, building and construction equipment. For more information, please visit www.primepro.eu.

Categories: News


KKR To Invest In Precipart To Accelerate Growth


KKR to support organic and inorganic growth to enhance Precipart’s leadership position as a provider of highly engineered precision components

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, announced today that it has agreed to invest in Precipart (the “Company”), a leading contract manufacturer of precision components for the medical device and aerospace industries. KKR plans to support the Company in its continued growth organically and through M&A. Financial terms were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231024406369/en/

Founded in 1950 by the Laubscher family, Precipart manufactures highly engineered custom components, offering a comprehensive solution across design, engineering, manufacturing, and assembly for leading Original Equipment Manufacturers (“OEM”). In particular, the Company is a global leader in gears and motion control solutions across a range of end market segments, including surgical robotics. The Laubscher family remains highly committed to Precipart and is retaining a significant minority ownership stake in the Company.

Oliver Laubscher, CEO of Precipart, commented: “My family and I are thrilled to form this strategic partnership with KKR. With KKR’s differentiated industry insights, global network, and deep bench of resources, we will be able to expand our capability offerings substantially, serve our customers better and at greater scale, and make Precipart an even better home for our talented employees. We look forward to working with the KKR team to build on what we have accomplished over the past 73 years.”

Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR, said: “We believe that Precipart has the foundational strength and customer orientation to become a global platform and are thrilled to collaborate with the Company on its growth ambitions. This investment is a solid example of our Health Care Strategic Growth approach of backing leaders in thematic areas that we have followed over time and for which we believe that KKR can serve as a strategic partner in helping reach scale.”

Anuv Ratan, Director at KKR, added: “We have deep admiration and respect for the business that Oliver, his family, and the management team have built and are excited to be their chosen strategic partner to support the Company going forward. The medical device market is in need of sophisticated, scaled solution providers that can help customers navigate supply chain complexity, and we believe that Precipart is uniquely positioned to become a best-in-class partner to medical device OEMs.”

KKR is investing in Precipart through its Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care-related companies. KKR has a long track record of supporting health care companies globally, having committed over $20 billion to the sector since 2004.

Completion of the transaction is subject to customary closing conditions.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Precipart

Precipart, founded in 1950 with roots in Swiss engineering and manufacturing, is a leading contract development and manufacturing organization of highly engineered precision components and assemblies, primarily for the medical device industry as well as the aerospace and industrial markets. Precipart, through its mission to Engineer Possible, is a comprehensive solution provider supporting its customers from the concept phase to serial production and in managing their growing supply chain complexity. Major product offerings include precision machining, micro mechanical components, assemblies, gear systems, motion solutions, technical ceramics, and advanced 3D printing.

For Precipart:
Oliver Laubscher
Email: media@precipart.com

For KKR:
Julia Kosygina or Emily Cummings
+1 212-750-8300

Source: KKR

Categories: News


Renta acquires Ohiko

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IK Partners


Renta Group Oy (“Renta Group” or “Renta”) is expanding its specialised pumping business through the acquisition of Ohiko Oy (“Ohiko” or “the Company”). Ohiko is a specialised pumping company providing full-service bypass solutions throughout Finland. Headquartered in Tuusula, Ohiko has 7 employees and annual revenues of more than EUR 2 million.

The acquisition of Ohiko extends Renta’s specialised pumping business from the Baltics and Poland to Finland, in line with the expansion strategy set in connection to the acquisition of Uprent in 2022. Ohiko provides a solid platform to further develop and grow in the highly attractive niche rental segment in Finland.

Ohiko is an excellent fit with Renta as it is a professionally managed and highly profitable company with capabilities to deliver turnkey projects. Similar to Renta, the Company has a lean structure and it will continue operating and providing services with the same well-functioning local business model as before. Renta sees significant potential in Ohiko by further scaling the operations leveraging the complementary expertise of Ohiko and Renta’s pumping business and by expanding specialised pumping geographically across Finland, benefitting from Renta’s existing presence.

Kari Aulasmaa, CEO of Renta Group, said:

“We are excited to join forces with Ohiko, a profitable and rapidly growing company with a strong standing in the Finnish specialised pumping market. Through the acquisition, Renta takes a leap in the strategic expansion of the specialised pumping business. We are impressed by the expertise and full-service project management capabilities of Ohiko and are convinced it will provide us with an excellent platform for continued growth in Finland.  We would like to extend a warm welcome to the Ohiko team.“

Petri Id, CEO of Ohiko, said:

“We have great previous experience from working with Renta’s specialised pumping providers in the Baltics and we are thrilled to become a part of Renta Group, which has ambitious plans for the future. Joining forces with Renta ensures the continuation of our high-quality services and enables us to take on larger projects and embark on new challenges. We look forward to partnering up with Renta.”

Enquiries: ir@renta.com

About Renta Group

Renta Group is a Northern European full-service equipment rental company founded in 2015. Renta has operations in Finland, Sweden, Norway, Denmark, Poland, and the Baltics, with 137 depots and over 1,500 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of rental depots, Renta is a supplier of scaffolding and weather-protection services. For more information, please visit www.renta.com

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About Ohiko

Ohiko is a leading specialised pumping company providing full-service bypass solutions, founded in 2021. The Company has one depot in Tuusula, 7 employees and annual revenues of more than EUR 2 million. For more information, visit https://www.ohiko.fi/

Categories: News


Levine Leichtman Capital Partners Portfolio Company Technical Safety Services Acquires Controlled Evironment Management

Levine Leichtman

Technical Safety Services (“TSS” or the “Company”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced that it has acquired Controlled Environment Management, LLC (“CEM”). Based in Gilbert, Arizona, CEM is a provider of controlled environment testing, validation, certification, and calibration services required in high-performance, regulated pharmaceutical, biotechnology, and healthcare settings.

TSS is a leading provider of testing, inspection, certification, and calibration (“TICC”) services to customers in the pharmaceutical, biotechnology, healthcare, and other life sciences end markets. TSS provides on-site technical services mandated to occur at regular intervals to ensure all clients remain in compliance with regulatory standards. The Company’s services are performed across the lifecycle of a customer facility and ensure the compliant operation of controlled environments such as clean rooms, bio-safety cabinets, medical gas systems, high-purity water systems, laboratory equipment, and more. TSS was founded in 1970 and is headquartered in La Jolla, California.

Marc Boreham, President and CEO of TSS, commented, “We are delighted to welcome CEM to the TSS platform. The CEM team brings significant expertise and dedication to high-quality service, which will further enhance TSS’s support for our valued clients across key strategic capabilities and geographies.”

Matthew Rich, Partner at LLCP, stated, “We are pleased to demonstrate our continued support for the TSS team in this acquisition, which further expands the Company’s geographic presence within the Southwest. We look forward to the continued execution of TSS’s growth and value creation plan through additional strategic M&A and associated growth initiatives.”

The acquisition of CEM is TSS’s seventh since being acquired by LLCP in 2022.

TSS is a portfolio company of Levine Leichtman Capital Partners VI, L.P.

Categories: News


Karnell Group AB (publ) acquires K-Vagnen


Karnell Group AB (publ) (“Karnell”) has today completed the acquisition of Vagnsteknik i Karlshamn AB (“K-Vagnen” or the “Company”). K-Vagnen develops and manufactures trailers for landscaping and had sales of approximately SEK 82 million during the last financial year with good profitability. The Company’s current owners continue to work in the Company and remain as partners. The intention is to continue to develop the business in Karlshamn, where the Company is based, and grow K-Vagnen together with existing and new customers.

K-Vagnen is a leading manufacturer of trailers and equipment for landscaping. The company’s products are sold under its own brand and include, among other things, leaf suction trailers, irrigation trailers, weed control equipment with hot water, dump trailers and other trailers. The company’s end customers are mainly in the landscaping sector, both service companies but also municipalities, cemeteries, golf courses, real estate companies and others, which have their own service organization. The dump trailers are also sold to customers in agriculture and construction. K-Vagnen conducts its business with product development, design and manufacturing in Karlshamn in properties owned by the Company, which are included in the acquisition. K-Vagnen was founded in 1986 and has a well-known brand in the industry with a leading position in its niche. The Company is known for its Swedish-made smart and high-quality products and its focus on high customer satisfaction. The majority of the sales are in Sweden. K-Vagnen will be part of Karnell’s business area Product Companies.

“We are pleased to welcome K-Vagnen, with Jörgen Olsson and Fredrik Due at the forefront, to our group and look forward to working together to continue to grow and develop the Company. We are impressed by K-Vagnen’s growth journey and the effort that Jörgen and Fredrik have made to take the Company to its current position. There is great potential to continue to grow the Company together with new and existing customers both in Sweden and abroad. The green trend in the industry is very strong with growing demand for fossil-free solutions, which also contribute to lower noise levels. K-Vagnen is at the forefront in this regard and already offers electrical products across the entire product range.”, says Petter Moldenius, CEO of Karnell.

“We look forward to working together with Karnell and taking K-Vagnen to the next level together. We get a strong strategic partner who can support us in the continued development of the business and help us take the next step. We continue to have great ambitions for K-Vagnen and see many opportunities to continue to grow, both in Sweden and abroad”, says Jörgen Olsson, CEO of K-Vagnen.

Karnell acquires 90.1% of the shares with an option to acquire the remaining shares in the Company after the annual report for 2026 has been approved. The sellers also invest a total of SEK 5 million of the purchase price in newly issued shares in Karnell Group AB (publ).

Stockholm, September 29, 2023

For further information, please contact:

Petter Moldenius, CEO Karnell Group AB (publ) +46 8 545 891 00

Or visit our website: www.karnell.se

Karnell Group AB (publ) is a long-term and active owner of small and medium-sized industrial technology companies. Karnell has a perpetual ownership horizon and thus provides entrepreneurs and family-owned companies with a responsible and long-term partner that continues to develop their businesses in a decentralized ownership model where decisions are made locally in the group companies, and thus closest to the end customer. Karnell currently owns 10 companies in Sweden and Finland and intends to list the group on the stock exchange.

Categories: News


MTWH acquires Metalstudio Group, doubling its revenues

  • Metalstudio Group specialises in metal components for the high-end luxury goods market
  • Biggest independent supplier on the market – Metalstudio generated 2022 revenues of more than 80 million euros with “Made in Italy” products

Frankfurt/Main, 20 September 2023. MTWH, a group of Italian manufacturers of metal and plastic accessories for the luxury goods industry and a portfolio company of Deutsche Beteiligungs AG (“DBAG”), acquires Metalstudio Group, a supplier of metal goods serving the high-end luxury market segment based in Scandicci near Florence, Italy. Metalstudio’s founder Egidio Salvini will become a shareholder of MTWH, and the company’s chairman. The parties have agreed not to disclose details of the sale.

Metalstudio Group employs more than 300 specialist staff. True to its motto “Made in Italy”, the company is a supplier to some of the most prestigious Italian and French luxury fashion brands. The product range comprises accessories for leather goods and shoes, made from brass, steel and zamak alloys. The company distinguishes itself through highly efficient processes together with extensive production capacity. Its profile is complemented by high levels of craftsmanship, as befits the expression of “Luxury Made in Italy”. Metalstudio Group generated revenues in excess of 80 million euros in 2022. With this acquisition, MTWH strengthens its strategic position as an Italian centre of excellence for luxury market accessories, doubling its revenues to approximately 165 million euros.

DBAG Fund VIII, advised by Deutsche Beteiligungs AG, acquired a majority stake in MTWH in June 2022; DBAG co-invested in that transaction, using its own financial resources. Founded in 2016, MTWH Group has since enjoyed a positive performance through strategic add-on acquisitions and a successful repositioning. The company employs 250 people at its sites near Bergamo and Florence; a Paris office was recently opened to deepen relations with French luxury goods brands.  The Group serves an end market that has grown globally by an average of six per cent per annum over the past 25 years.

“MTWH is active in a market defined by structural growth. The company will further strengthen its market position with this most recent acquisition, which will trigger an increase in highly qualified employees and expand customer access. The acquisition of Metalstudio will help MTWH in its ambition to create a centre of excellence for the luxury goods industry,” said Tom Alzin, Spokesman of the Board of Management of Deutsche Beteiligungs AG.

Cesare Luzzana, Managing Director of MTWH, stated: “MTWH acquires additional expertise with Metalstudio Group that will allow us to strengthen and expand our market presence and our range of services.”

“Customer service, progress and sustainability have been the three guiding principles accompanying our 50-year journey. The collaboration with MTWH, which shares and continues to pursue these key principles, will allow us to further improve our positioning and our customer relationships,” emphasised Egidio Salvini, founder of Metalstudio Group.

Categories: News


teboma expands in the non-residential ventilation market with the acquisition of Vink Group

Fields Group

Beverwijk and Katwijk, September 14, 2023 – Dutch ventilation specialist Steboma has acquired industry peer Vink Group from investor FIELDS Group. Through this acquisition, the Steboma Group strengthens its position in the designing, engineering, production and installation of ventilation systems within the non-residential market and the group’s annual revenues now amount to approximately €90 million. Vink Group will continue to operate as an independent organization within the broader Steboma Group, with its management team remaining unchanged.

Vink Group specializes in the designing, engineering, production and installation of ventilation systems in the non-residential segment of the ventilation market. The company serves its clients as a “full installer” through its subsidiary “Induct“, as a subcontractor for general installation companies through its subsidiary “Vink Systemen” and as supplier and knowledge partner to a wide range of installation companies through its subsidiary “VSL Air”. Vink’s ventilation solutions are widely used and the company is well known for its leading ventilation solutions for the pharmaceutical, high-tech, agro-tech and food market. Vink serves various large clients in these sectors, including Johnson & Johnson, Bristol Meyers Squibb, and VU Medical Center.

The Steboma Group has a clear ambition to become the leading ventilation specialist in the Netherlands, with activities in the new-build residential market, the non-residential market, renovation projects and the maintenance of ventilation systems. The acquisition of Vink Group aligns well with this ambition, given their deep-rooted knowledge and expertise in delivering ventilation solutions within the non-residential market. With Vink, the Steboma Group is even better equipped to provide our clients with ventilation solutions that contribute to a clean working or living environment and that contribute to solving their sustainability challenges,” says Marco Koster of Steboma. “With this acquisition, our organization also expands significantly and our workforce now amounts to approximately 240 employees. We look forward to the future collaboration with Vink’s management team and we are excited to welcome their talented employees into the broader Steboma Group.”

Dick Kremers, CEO of Vink Group, states, “We are delighted that Vink will join the Steboma Group. Over the past years, in partnership with investor Fields Group, we managed to redefine Vink’s strategy and have made significant progress with the company. Vink is now well equipped for the future, making this a logical moment for a change of ownership. Vink and Steboma align well in activities and culture, and we can benefit from each other’s extensive expertise, broad customer network and strong reputation. We are furthermore convinced that, with the support of the Steboma Group, Vink can make significant investments and scale further in the coming years.”

Fabianne Onderwater, Investment Director at FIELDS Group, adds, “Vink has undergone a remarkable development in recent years, thanks to a clear strategy and substantial investments in the business and organization. The clear strategy and substantial investments have resulted in strong growth and a unique position in attractive end markets, led by a robust and future-proof team. The combination with Steboma is a logical next step for Vink, and we wish Steboma/Vink all the best for the future.”

The acquisition of Vink is part of Steboma Group’s buy-and-build strategy that was launched last year when pan-European private equity firm Waterland became a shareholder and strategic partner for the future of the Steboma Group in October 2022. To realize its ambition to build a leading ventilation specialist, Steboma actively seeks for partnerships with other specialists in air technology, both in the residential and non-residential segment.


About Steboma

Steboma is a ventilation specialist focusing on the large-scale residential segment in the Netherlands. The company has become one of the leading ventilation specialists and is the preferred partnering for a wide range of well-known construction firms. Steboma employs approximately 100 people and also has a sizeable, flexible workforce. The company has facilities in Beverwijk, Schagen and IJsselstein. For more information, please visit www.steboma.nl.

About Vink Group

The companies within the Vink Group design, supply, install, and maintain air technical infrastructure in businesses across various sectors, including utility, life science, (tech) industry, food, and agro-tech. Vink Group’s solutions are installed at various locations in the Netherlands and abroad. The company employs approximately 155 permanent staff members and 125 temporary workers, with its headquarters in Katwijk. For more information, please visit www.vinkgroep.com.

About FIELDS Group

FIELDS Group is an entrepreneurial, hands-on investor focused on developing businesses with potential. FIELDS invests in companies headquartered in the Benelux and DACH regions and achieves fundamental transformations with its team. For more information, please visit www.fields.nl.

Categories: News


ASSA ABLOY acquires Lawrence Hardware and Gallery Specialty in Canada

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ASSA ABLOY has acquired Lawrence Hardware and Gallery Specialty, leading providers of commercial hinges, locksets, exit devices and door hardware accessories in Canada.

“I am very pleased to welcome Lawrence and Gallery into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“Lawrence and Gallery are well-known, respected brands in Canada and I’m excited for them to become part of ASSA ABLOY,” says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. “This acquisition supports our growth ambitions and commitment to the Canadian market by further strengthening our core business and expanding our product portfolio.”

Lawrence Hardware was founded in 1876 and Gallery Specialty in 1989, together employing some 50 employees. The main office and factory are located in Toronto, Canada.

Sales for 2022 amounted to about MCAD 25 (approx. MSEK 200) with a good EBIT margin. The acquisition will be accretive to EPS from the start.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: bjorn.tibell@assaabloy.com


The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.


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