Adisseo announces the signature of an agreement for the acquisition of FRAmelco Group
Bluestar Adisseo Company (“Adisseo”) announces the signature of an agreement to acquire FRAmelco Group, a Dutch feed additive company (meaning FRAnklin Group BV and its wholly owned subsidiaries – hereafter “FRAmelco”). This transaction is part of Adisseo’s strategy to boost Specialties growth to become one of the worldwide leaders of specialty feed ingredients in animal nutrition. This acquisition will reinforce Adisseo’s position in the promising Health by Nutrition market segment.
FRAmelco Group, a family owned multinational group headquartered in The Netherlands, operates 3 plants located in The Netherlands, Spain, and Thailand. The business generates gross sales of about €30 million per year. Most of FRAmelco sales are made of Glycerides (short and medium chain fatty acids) to maintain animal in good health and to improve animal performance and Lysolecithins to improve feed digestibility. FRAmelco’s industrial footprint, its product range, its technologies, the species addressed, and its target markets are highly complementary to Adisseo’s. It will allow the combined business to implement integrated solutions and offer even more value to customers who want to reduce antibiotic usage and enhance animal resilience.
Commenting on the acquisition, Jean-Marc Dublanc, CEO of Adisseo, said:
“Today we take another step forward in implementing our growth strategy on Specialties. We look forward to welcoming the FRAmelco management and employees with their great knowledge and expertise. The acquisition of FRAmelco is bringing products, solutions, and know-hows to better address our customers’ current and future needs. Together, we will set up an efficient organization which will allow us to strengthen our global product portfolio’s competitiveness. We will become the leader in short and medium chain fatty acids, a promising technology which fits perfectly with our vision of contributing to healthier animals through nutrition. We will also mutually benefit from respective strengths and global commercial coverage to better serve customers and capture market growth.”.
Lars Snijders, CEO of FRAmelco added:
“We are excited to become part of Adisseo because both companies are driven by the same ambition – to deliver the most innovative and sustainable feed solutions to customers. We are proud of what we have achieved in recent years, bringing solutions and value to our clients through our Glycerides and Lysolecithins technologies. By combining our strengths with those of Adisseo, we can jointly accelerate success.”
Adisseo is one of the world’s leading experts in feed additives.
The group relies on its 10 research centers and its production sites based in Europe, USA, and China to design, produce and market nutritional solutions for sustainable animal feed. With more than 2,250 employees, it serves around 3,900 customers in over 110 different countries through its global distribution network. In 2019, Adisseo achieved a turnover of over 1.44 billion Euros.
Adisseo is one of the main subsidiaries of China National BlueStar, leader in the Chinese chemical industry with nearly 21,000 employees and a turnover of 6,8 billion USD.
FRAmelco is specialized in the development, manufacturing and marketing of feed and drinking water additives worldwide. It provides the industry with additive solutions that allow both agriculture and aquaculture to increase productivity and profitability in a sustainable manner.
Production of Glycerides and Lysolecithins are carried out in-house in three different production units, the Netherlands, Spain, and Thailand.
The group employs 75 persons, is active in over 60 countries and expands rapidly.
Acquisition of Argonaut Advies and Zorg-Lokaal by Cohedron (backed by Argos Wityu)
Quore Capital acted as exclusive corporate finance advisor to Cohedron, backed by Argos Wityu. The acquisition of the 2 labels enhances Cohedron’s position as a full-service provider in the social domain for the Dutch public sector.
Cohedron, full-service provider in the social domain for municipalities in the Netherlands, acquires Argonaut Advies, social medical consultancy firm and Zorg-Lokaal, an innovative care services administrator. These two business units compose Social Value Holdings BV. Supported by Argos Wityu since 2017, Cohedron is an investment of the Argos VII fund.
Argonaut Advies is a specialist in the field of social medical consultancy with over 50 years’ experience and nationwide operations. With a comprehensive understanding of laws and regulations in the area of income, employment, integration, welfare and participation, Argonaut Advies is geared towards local authorities and the private sector.
Zorg-Lokaal has a strong expertise in the responsible commitment of care services for municipal authorities. The company provides municipalities and regions with valid and relevant data for steering and managing information. The objective for these local authorities is to have a better grip on the responsible deployment of their social care budget.
With this acquisition, Cohedron reinforces its position in the field of social medical consulting and adds an expertise in budget and organisational management for the municipalities’ social responsibilities. Cohedron will increase its predictive capacity in the field of care by providing data analyses, machine learning and dashboards.
Since Argos Wityu became a shareholder of Cohedron in 2017, the company has conducted an active buy-and-build strategy with 7 acquisitions of which the most recent one in September 2020 of Bureau Inkomens Beheer. Cohedron is now a company generating revenue of more than €100 million and employing more than 1500 people.
Jeroen Ekkel, Cohedron CEO: “We are proud to welcome the seasoned professionals of Argonaut Advies and Zorg-Lokaal to the Cohedron ship. We are confident that their expertise will enable us to deliver an even better response to the demands put forward by our clients. This takeover sees us further concretise our buy and build strategy, with the full support from our majority shareholder Argos Wityu as an enterprising investor that lends its conceptual input. We will continue to work at furthering the strong growth which Cohedron is currently enjoying on a step-by-step basis. Ongoing innovation, aimed at premium quality service delivery and working in partnership on behalf of our clients are central to these endeavours.”
Johan van Triest, Social Value Holdings BV Director: “I have always viewed this takeover as a strategic and qualitative move forward. This will enable us to offer our clients an even wider range of solutions and options and provide even better support in response to their needs and demands. In addition, we attach great importance to our colleagues having a great place to work. This takeover means our colleagues are becoming part of a greater whole whose values are entirely in keeping with those we cherish.
Maarten Meijssen, Argos Wityu Partner: “For the past 3 years we have supported Jeroen Ekkel and his team in implementing the company’s buy-and-built strategy. The recent corporate rebranding is the reflect of a strong growth. Our goal is to reinforce Cohedron’s leading position as a full-service provider in the social domain for the Dutch public sector.”
14 October 2020
Client: Argos Wityu
Target: Argonaut Advies & Zorg-Lokaal
Seller: Social Value Holdings
Sale of Reinhard Rohrbau, a subsidiary of A. Hak, to DING Group (backed by DBAG)
The Dutch A.Hak Group has sold its shares in Reinhard Rohrbau GmbH, Meppen, to Deutsche Infrastruktur- und Netzgesellschaft, Bochum (DING Group), a portfolio company of Deutsche Beteiligungs AG. Quore Capital, jointly with its German partner Network Corporate Finance, exclusively advised the A.Hak Group on the transaction.
The divestment of Reinhard Rohrbau is in line with the strategic reorientation of the A.Hak Group, which is increasingly focusing on the district heating segment in the Netherlands and on major pipeline and cabling projects nationally and abroad.
With Reinhard Rohrbau, DING Group is expanding its regional presence and strengthening its service portfolio, especially in pipeline construction. Deutsche Beteiligungs AG plans to build a national market leader in the field of telecommunication and pipeline network construction by growing organically as well as by acquisitions.
Reinhard Rohrbau GmbH, based in Meppen, is a regionally leading pipeline construction specialist with a focus on all services related to the laying of energy and telecommunication networks. Reinhart Rohrbau concentrates on underground pipeline construction and cable laying as well as industrial pipeline and plant construction. Its customers include regional energy suppliers and water associations as well as international groups from the energy and telecommunications industry. In 2019, the company generated sales of around 20 million euros with 110 employees.
For more information regarding Reinhard Rohrbau GmbH: www.rrb.de
Quore Capital advised on the transaction together with its German partner Network Corporate Finance, which is just like QC a member of a global network of leading corporate finance boutiques. NCF is an independent, owner-managed corporate finance advisory firm supporting clients with a team of 28 professionals and managing partners from its Düsseldorf, Berlin and Frankfurt offices.
For more information about Network Corporate Finance: www.ncf.de
22 July 2020
Client: A. Hak
Target: Reinhard Rohrbau
Buyer: DING Group (backed by DBAG)
Seller: A. Hak
Quore Capital acted as exclusive corporate finance and debt advisor to The Carlyle Group on the acquisition of Dept from Waterland Private Equity.
Global investment firm The Carlyle Group (NASDAQ: CG) announces that it has reached a definitive agreement to acquire a majority stake in Dept, a leading independent digital agency based in Amsterdam. This investment will enable Dept to continue to accelerate its growth in the fast-paced digital agency sector.
Named the second fastest-growing large agency in the world by Adweek in 2019, Dept delivers end-to-end digital experiences for brands and businesses worldwide such as Bose, Tesla, Samsung, Formula E, Indigo and Beiersdorf.
Founded in Amsterdam in 2015, the Dept team has grown from 150 people in The Netherlands to more than 1,500 people in thirteen countries across Europe and the Americas. During this period 2015-2019, Dept’s revenue rose tenfold to over 150 million Euros.
Equity for the investment comes from Carlyle Europe Technology Partners (CETP) IV, a fund that invests in technology and media-focused SMEs in Europe and the US. The proposed transaction is subject to customary regulatory approvals and is expected to close in the beginning of 2020. Financial details were not disclosed.
29 january 2020
Client: The Carlyle Group
Buyer: The Carlyle Group
Seller: Waterland Private Equity
Heimstaden has acquired the Dutch management company Vivo Wonen from Round Hill Capital and Stadium Capital Partners following the acquisition of the 3rd largest residential portfolio within the Netherlands in April 2019. The acquisition provides Heimstaden with an Amsterdam-based management platform specialized in managing the exact same portfolio, offering fully integrated management services including in-house sales, asset, technical, leasing and HOA management and the financial management (SPV Accounting) across the Netherlands.
Vivo Wonen was established in 2014 to create a best-in-class residential management company and to specifically manage the Dutch residential holdings of Round Hill Capital, of which a large part was recently acquired by Heimstaden. Currently, the company manages more than 10,000 residential units across the Netherlands, including assets for one other international investor.
Quore Capital acted as financial advisor to Vivo Wonen.
June 3rd, 2019
Client: Vivo Wonen
Target: Vivo Wonen
Buyer: Heimstaden AB
Seller(s): Round Hill Capital and Stadium Capital Partners
Sale of myBrand to Conclusion, backed by NPM Capital
Conclusion, backed by Dutch private equity house NPM Capital, acquires myBrand, a highly valued SAP service provider in the Netherlands, from De Hoge Dennen Capital. For Conclusion, the acquisition perfectly fits its ambition to further develop its ‘eco-system’ of IT services offering to its clients. For myBrand, being part of this larger group brings it closer to its goal of becoming the leading SAP services provider in the Netherlands by 2021.
myBrand offers clients integrated SAP-services including consultancy, implementation, migration, hosting and managed services. myBrand is also a VAR for SAP licenses and offers SAP maintenance. These services complement the significantly smaller SAP services offering of Conclusion, before the transaction known as Conclusion Xtensional. myBrand will continue to operate on a stand-alone basis and under its current brand name.
After having advised De Hoge Dennen Capital on the sale of Robidus to Avedon Capital Partners in 2015 and on the sale of TENTOO to Waterland Private Equity in 2016, Quore Capital is on the verge of closing yet another successful sell-side deal on behalf of De Hoge Dennen Capital; another example of a long term relationship with one of its highly valued customers.
August 15th, 2018 (announced)
Client: De Hoge Dennen Capital
Buyer: Conclusion (Backed by NPM Capital)
Seller: De Hoge Dennen Capital and management
Ocom has closed a transaction with Iron Mountain (listed on NYSE) regarding the sale of its Dutch EvoSwitch data center business for USD 235 million (EUR 205 million).
The deal also includes a future revenue credit of USD 25 million to Leaseweb, Ocom’s cloud hosting company with operations in 35 countries.
The transaction provides Iron Mountain with 11 megawatts (MW) of existing data center capacity in the Netherlands, with expansion capability of an additional 23 MW.
Founded in 2007, EvoSwitch NL provides multi-tenant data center space, operating one of the largest colocation facilities centers in the Metropolitan Region Amsterdam (MRA), which is the second largest data center market in Europe and a top 5 global market. Its existing campus supports more than 50 connectivity and telecommunication providers, including world-leading internet exchanges, such as the Amsterdam Internet Exchange AMS-IX. Quore Capital acted as sole financial advisor to the shareholders of EvoSwitch.