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Ackermans & van Haaren GIMV, Sofinim (74% Ackermans & van Haaren - AvH) and NPM Capital sold today their shareholding in Arcomet, allowing so the company to be 100% owned by the current majority shareholder and CEO Dirk Theyskens and the management. The transaction has been financed with the support of the investment fund LFPI and Sofina.
GIMV held 20% in Arcomet, while Sofinim and NPM Capital each held 10%. They all supported through development capital the growth of the Belgium-based company alongside the family Theyskens. Their capital increase provided the required financial basis for expanding the tower crane fleet and building the appropriate management structures of the company which were required by its international expansion. The consolidated sales of the company grew from 53 million € in 2000, when GIMV, Sofinim and NPM Capital entered the company, to 120 million € in 2007, the EBITDA increasing from 12.5 million € to 33.0 million €. Arcomet became hence the biggest independent provider of tower crane rental and purchase services in the world, with activities in most of the European countries, Singapore and the United States of America.
The transaction results in a capital gain of 5.4 million € at the level of Ackermans & van Haaren (part of the group). No further financial details concerning this operation will be announced.
Ackermans & van Haaren is a diversified group active in 4 key sectors: contracting, dredging and concessions (DEME, one of the largest dredging companies in the world - Algemene Aannemingen Van Laere, a leading contractor in Belgium), Real Estate and related services (Leasinvest Real Estate, a listed real-estate investment trust with real estate assets of approximately 460 million euros - Extensa, an important land and real estate developer focused on Belgium, Luxemburg and Central Europe), private banking (Bank Delen, one of the largest independent private asset managers in Belgium - Bank J.Van Breda & C°, niche bank for entrepreneurs and liberal professions) and private equity (Sofinim, one of the largest private equity providers in Belgium, and GIB). The group concentrates on a limited number of strategic participations with an important potential for growth. Market capitalisation of AvH is approximately 2.3 billion euros. The AvH share has been included in the reference index BEL20, the Private Equity NXT index of Euronext Brussels and as of 23 June in the European DJ Stoxx index 600.
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