Equistone to buy Amadys from Vectis

The management team, led by CEO Hein Wilderjans, retains a minority stake in the company.

Following the transaction, Equistone will support the company's continued organic growth, buy-and-build strategy and international expansion.

The business generates EBITDA of more than €20m, Unquote sister publication Mergermarket reported in September.

Equistone invested via its €2.8bn Equistone Partners Europe Fund VI, which closed in 2018. The fund is seeking to invest €25-200m in lower-mid-market companies with enterprise values of €50-500m. The Amadys deal is the fund's 16th investment, Unquote understands. 

Equistone declined to comment further on the financial details of the transaction. 

Previous funding
Vectis acquired the business in 2013. At the time, the GP was investing via its €25m Vectis Participaties II fund, which backed companies with an enterprise value of €5-25m and a turnover of €5-50m.

Company
Amadys is a provider of passive network equipment services to utility networks, including fixed and mobile telecoms networks, and water, gas and electricity grids based in Belgium and surrounding countries.

Headquartered in Brussels, Amadys employs 100 people in Belgium and the Netherlands, and generates revenues of more than €140m, according to its website.

People
Equistone – Hubert van Wolfswinkel (director).
Amadys – Hein Wilderjans (CEO).

Advisers
Equity – Allen & Overy (legal); PwC (strategic due diligence); EY (financial due diligence, tax); Shearman & Sterling (legal); Rothschild (M&A).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Exits
• Benelux
• Industrials
• Belgium
• Equistone Partners Europe
• Secondary buyout