Argos Soditic acquires Gantrex

The deal, which involved a simultaneous carve-out of other business activities, saw Argos backing a newly promoted management team. The GP acquired the business from the Haegelsteen family.

This marks the second deal in Belgium for Argos. The GP opened an office in Brussels in late 2013 to increase its focus on the Benelux market. Earlier this year, Argos agreed to acquire Belgian railfreight operator SNCB Logistics from parent SNCB in a €70m deal alongside existing management.

Argos's buyout investments are usually financed via its Euroknights VI fund, which closed on its €400m hard-cap in late 2010, according to unquote" data.

Company
Established in 1971 by the Haegelsteen family, Nivelles-based Gantrex produces crane rail fastening systems. Its products are used in various markets including ports, shipyards, railway depots and heavy industries. The company operates through three productions sites in Belgium, Canada and China.

Gantrex employs 250 people and in 2014 generated turnover of €70m.

People
The deal saw Maarten Impens promoted to CEO of the business. Gilles Mougenot is president of Argos Soditic.

Advisers
Equity – Liederkerke, Damien Conem, Fanny Guilbert, Esther Remy (Legal); Deloitte, Lieve Creten, Catherine Pauwels, Mathias van der Straaten-Ponthoz (Financial due diligence); Deloitte, Stijn Dingen, Gregory Hameeus (Tax); SIA Partners, Roel Peeters (Commercial due diligence); HPC Envirotec, Stephane Vercondelet, Xavier Pellier (Environmental due diligence); Brugmann Conseil, Benoit Verron (Insurance due diligence).
Vendor – Transaction R Belgium, Fabien Lenoir, Christian de Marnix, Tancrede Colas (M&A); Clifford Chance, Philippe Hamer, Helene Volkova (Legal); PwC, Veronique Gillis, Arnaud Chantraine (Financial due diligence).

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• Topics
• Benelux
• Buyouts
• Industrials
• Argos Wityu
• Belgium