Avedon acquires VanRiet

According to Dutch media reports, the deal is valued at around €30m with €3-5m of the equity earmarked for the establishment of a research and development centre in the Netherlands.

The capital injection by Avedon will also allow VanRiet to finance company growth in its domestic market and internationally, with a particular focus on China.

Staff count will also increase, with plans to double the current number of employees in the coming years.

Company
Founded in 1948 and headquartered in Houten, VanRiet manufactures handling systems for the production and distribution lines of companies. Products include manual sorting systems, automated storage and retrieval systems, conveyors and pallet transport systems.

VanRiet's customer base includes parcel and express companies, tire manufacturers and warehouse and distribution firms serving the e-commerce market.

The company employs 120 staff. Revenues have apparently quadrupled since 2010 to reach €40m last year, with turnover expected to reach €50m in 2014 and to be double that in six years' time.

People
Rik van den Boog is the CEO of VanRiet. Michel Verhoog is a partner at Avedon.

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• Buyouts
• Benelux
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• Netherlands