Bucharest - 07 iunie 2016
-
Balkan Accession Fund (BAF), a private equity fund advised by Axxess Capital,
- TVH Group, a worldwide provider of parts for materials handling and other industrial equipment and of powered access rental services and
- Stefan Ponea, founder and CEO of Industrial Access SA, a premium provider of equipment rental services in South Eastern Europe,
are pleased to announce they have signed an agreement for the transfer of 100% of the shares in Industrial Access SA from BAF and Mr Ponea to the TVH Group.
About the Company
Industrial Access in the largest independent powered access rental company in the Balkans area, with only 10 years’ history of strong organic growth, from a small entrepreneurial company to the most developed powered access rental network in the region (Romania, Bulgaria and the Republic of Moldova). It owns a premium rental fleet across multiple equipment families such as aerial work platforms, earth moving and compaction, fence and accommodation, power, air and water equipment and small construction equipment.
In 2007, the company’s founder joined forces with BAF in order to build a strong brand and expand into the regional leading company it is today.
About TVH Group
Founded in 1969 by Paul Thermote and Paul Vanhalst, the family-run TVH Group services more than 20,000 customers in 170 countries worldwide, with subsidiaries and branches in 30 countries and has about 4,900 employees. The group has two main areas of operations – the sale and distribution of spare parts for materials handling, industrial equipment and agricultural tractors and machinery, and the rental of access equipment. TVH entered the Romanian rental aerial work platforms market in 2013 with the acquisition of Romlift and with this important next step, TVH reiterates its firm belief in the future development of our activities in South-East Europe.
About Axxess Capital
Axxess Capital is an independent investment adviser with more than 15 years of investment history in the lower mid-market in South-Eastern Europe and has advised in transactions totalling over EUR 250 million for three private equity funds. Axxess Capital has advised in the closing to date of over 35 acquisitions and the exits out of 25 equity investments, supporting growth and development of private companies across a number of sectors including financial services, manufacturing, IT&C, specialized retail, FMCG and others.
The Balkan Accession Fund is a EUR 110 million private equity regional fund, designed specifically to take advantage of investment opportunities in Romania and Bulgaria as well as in selected industries in the Balkan’s Region. After 10 years of activity, the Fund is currently in its divestment stage. For more information, visit www.axxesscapital.net.
The Transaction
With the acquisition of Industrial Access, TVH is continuing its strategy of becoming a leading Pan-European provider in specialised rental business.
Pascal Vanhalst, CEO and Member of the Executive Board of TVH said: “We are pleased that, with the acquisition of Industrial Access, we are strengthening our specialised rental business, get support for improved operational visibility and excellence, and potentially broaden the range of rental assets we provide to our business partners. We firmly believe that this transaction and the subsequent merger with our existing business will further enhance our services and also result in increased benefits for our customers."
Horia Manda, the Managing Partner of Axxess Capital stated: “The divestment decision was taken at the right time, in accordance with BAF’s strategy. When BAF made the investment, both the company and the industry in our region were in their infancy. We managed to negotiate the difficult years of the economic contraction, to execute the change and expansion plan and to develop Industrial Access into the regional leader it is today.”
Stefan Ponea added: "We started in 2005 and managed to become a leading player in our geographic markets. We have now found in TVH a perfect partner that will support us to continue our growth.”
The Purchaser was advised on the legal and tax sides by NNDKP. The Sellers were assisted by KPMG as M&A advisor and by Mrs Gabriela Assoum Predescu on the legal side.
Bogdan Vaduva, M&A Partner with KPMG, declared: “We were very proud to have advised the Sellers and it was a pleasure to work with BAF and Stefan on this transaction “.
The transaction is conditional upon obtaining the approval from the Romanian Competition Council.
For Axxess Capital
Horia Manda
Managing Partner
Tel: +40 21 207 7100
Fax: +40 21 222 8504
E-mail: horia.manda@axxesscapital.net
For TVH
Pascal Vanhalst
CEO, Member of Executive Board
Tel: +32 56 43 46 24
Fax: +32 56 43 49 24
E-mail: dominiek.valcke@tvh.com
Cuvinte cheie:
Axxess Capital press release