Waterland to sell Verbraeken to Andera – report

The sale values the business at more than €100m, according to the Belgian publication. Last year, Waterland hired Rothschild to advise on an exit from Verbraeken.

The GP acquired about half of the shares in Verbraeken in 2010, De Tijd reports. At the time, the GP was investing via its €800m Waterland Private Equity Fund IV vehicle.

Under Waterland's ownership, the business expanded its footprint both organically as well as through acquisitions in France, Germany and Benelux, the GP's website says.

At the time of publication, Waterland and Andera Partners had not yet responded to requests to comment.

Founded in 1966 and headquartered in Temse, Verbraeken builds and renovates utility infrastructure networks for gas, water, electricity and telecoms companies.

The company posted a turnover of €150m in 2017 with profit of €6.16m, De Tijd reported. The business employs 1,000 employees across Belgium, France and Germany, according to Waterland's website.

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• Topics
• Buyouts
• Exits
• Benelux
• Industrials
• Belgium
• Waterland Private Equity
• Andera Partners