Gimv buys minority stake in Televic

Co-CEOs Thomas Verstraeten and Lieven Danneels each formerly held a 50% stake in the company and have each sold part of their stake to Gimv.

The deal was carried out via a structured in-house process, in which Televic’s CEOs sought to bring a new investor on board to assist with the company’s growth, including further acquisitions.

Televic acquired Germany-based rail passenger communication systems producer GSP Sprachtechnologie in July 2019.

Following Gimv’s investment, Televic plans to expand internationally.

The acquisition is part of Gimv’s smart industries strategy. The firm deploys equity tickets of €5-50m and invests in companies with an EV of up to €250m.

Company
Televic was founded in 1946 and originally produced radio systems, subsequently expanding its product range to high-tech on-board communications systems used in rail travel, conferences, healthcare and educational institutions. It was taken over by its current owners in 1998 and has since expanded internationally.

Based in Izegem, Belgium, Televic employs 950 people and has revenues of around €130m.

People
Televic – Thomas Verstraeten, Lieven Danneels (CEOs).
Gimv – Tom Van de Voorde (managing partner, head of smart industries platform).

Advisers
Equity – Stibbe (legal); Deloitte (financial due diligence, tax); Roland Berger (commercial due diligence).

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• Topics
• Expansion
• Benelux
• Technology
• Belgium
• Gimv