Equistone acquires BUKO Infrasupport and BUKO Waakt

Wahida Ahmed
04 January 2023

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Equistone has agreed to acquire a majority stake in Dutch providers of traffic and safety management solutions BUKO Infrasupport and BUKO Waakt.

Vendor Scheybeeck Participaties, the investment office of the Burger family, and the management team will reinvest for a minority stake in the business. Current CEO, Robert Emmerich, will lead both companies, according to a press release.

The deal does not include BUKO Transport, the group's unit specialised in transportation for ground, road and hydraulic engineering.

Lincoln International ran a sale process for the business geared towards sponsors and marketing it off EUR 22m in EBITDA, Mergermarket reported in November.

Equistone invested through Equistone Partners Europe Fund VI, a EUR 2.8bn fund which closed in March 2018, according to Unquote Data.

The GP will seek to grow BUKO's market presence in the Netherlands as well as targeted expansion into neighbouring countries, according to the press release. It will also invest in digital and energy transition-related infrastructure and road maintenance, as well as expanding the company's geographic footprint.

BUKO engaged in M&A activity under Scheybeeck Participaties ownership, acquiring domestic businesses such as Infrawatch, a security services and camera specialist, in August 2022 and Van Hooft Verkeerstechniek, a traffic management services company, in June 2022.

Company
Founded in 1962 in the Netherlands, BUKO employs more than 350 staff and generates an annual turnover of around EUR 70m.

BUKO Infrasupport provides end-to-end outsourced temporary traffic management solutions, with services such as onsite management of road signage and safety equipment required for roadworks, serving mainly contractors and public authorities.

BUKO Waakt rents security equipment such as camera surveillance, intrusion detection systems, and access control systems, primarily for use in construction sites of residential and public buildings.

People
Equistone – Hubert van Wolfswinkel (partner), Tanja Berg (investment director).
Scheybeeck Participaties – Dick Burger (managing director).
BUKO – Robert Emmerich (CEO).

Advisers
Equity – PwC (financial, tax, IT, debt advisory); DC Advisory (M&A); Roland Berger (commercial due diligence); Munich Strategy (commercial due diligence); Vesper (legal); Clifford Chance (legal).
Vendor – Lincoln International (M&A); Deloitte (financial, tax advisory); Strategy& (commercial due diligence); De Brauw Blackstone Westbroek (legal).