Friesland Bank acquires 100% of OPM BV

In a move to extend its reach into the Eastern part of the Netherlands, Friesland Bank Investments has acquired 100% of the shares in the Enschede-based private equity firm, Overijsselse Participatie Maatschappij BV (OPM). Friesland Bank, which will shortly open a bank in Enschede, has held an 18% stake in the firm since March 2000 and reached agreement with the other shareholders, ABN AMRO Capital (25%), Overijsselse Ontwikkelings Maatschappij NV (25%), Amicon (18%) and Univé Verzekeringen (14%) to acquire the remaining shares.

Following the takeover, OPM will continue to operate under its current name and strategy, although the maximum investment size will increase to EUR 15m. The floor remains at EUR 0.5m. Willem Bonvanie will continue to head the firm and has, following the deal, hired a new investment manager, Leendert Stam from KPMG, who becomes OPM’s fourth employee. To date, the firm has seven companies in its portfolio. No exclusivity agreements have been signed with Friesland Bank, while financial details surrounding the transaction have not been disclosed.

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