NPM's De Boer Structures to be acquired by Gilde's Losberger

NPM, which acquired the group from 3i in 2005, is fully exiting through the transaction, which is expected to close during the second quarter of 2017.

The combined Losberger/De Boer entity will have a joint turnover of approximately €330m, and will employ an estimated 1,200 staff. The group, which specialises in the rental and sale of temporary accommodation for various sectors, will have established positions in the Middle East, the US, China, Europe and South America.

Losberger said in a statement the acquisition of De Boer will enable it to significantly expand its rentals for the events industry and to expand into new, previously uncovered regions. Meanwhile, De Boer should be able to widen its product portfolio and enhance its industrial and rapid deployment systems (RDS) services.

With NPM's backing, De Boer's sales increased from €70m in 2004 to €72.5m in 2015, and to €90m last year. Its EBITDA meanwhile grew from €7m in 2015 to €13.5m last year.

The new entity, which will be named Losberger De Boet Group, will be led by a management team combining both Losberger and De Boer executives.

The parties declined to disclose any financial details of the current transaction.

Previous funding
In 2016, Gilde acquired Losberger in an SBO from HIG Capital, which itself bought the company in an all-equity MBO in 2011, investing from its HIG European Partners fund.

Gilde tapped its Gilde Buy Out Fund V to back Losberger's management and acquire a majority stake in the group, while management invested alongside the GP for a "significant minority", unquote" reported at the time.

In 2005, NPM acquired a majority stake in De Boer Tenten from vendors 3i and the de Boer family. Management acquired a 25% stake on that occasion. 3i had previously bought a majority stake in the company from the de Boer family in 2000, with the family retaining 33%.

Company
Founded in 1919, Losberger is a global provider of ready-to-use temporary and semi-permanent spaces, including aluminium and steel halls, warehouses, housing units, tents, field hospitals, and room modules. Its customer base includes corporate customers, event organisers and rental companies, municipalities, government agencies, international organisations and NGOs. Headquartered in Bad Rappenau, Germany, the group manages eight production facilities and 14 sales offices internationally, with 850 staff in total.

Founded in 1924 and headquartered in Alkmaar, the Netherlands, De Boer provides fully decorated accommodation and facilities for large events and temporary office spaces. The company operates in Europe and the Middle East with 300 permanent staff and an extra 150 during high season. Its turnover amounted to €90m in 2016, with a €13.5m EBITDA and net profits of €9.5m.

People
Losberger – Berndt Zoepffel (CEO).
De Boer Structures – Arnout de Hair (CEO).
Gilde Buy Out Partners – Rogier Engelsma (partner).

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