IK acquires Doedijns in SBO

The value of the deal has not been disclosed. Doedijns' management team, led by CEO Juul IJzermans, will retain a significant minority stake in the business following the transaction. The deal originated through an auction process arranged by ING Corporate Finance. Equity for the transaction was provided by the IK2007 fund, which raised €1.675bn at final close in December 2007.

IK was attracted to the deal because it believes the company has a strong fundamental growth outlook as well as a prominent position in a number of markets. The investor is looking to support the company's growth by focusing on international expansion both organically as well as through add-on acquisitions.

Debt
Leverage was used, though further details have not been disclosed.

Previous funding
Friesland Bank Investments, the investment arm of Friesland Bank, acquired a majority stake in Doedijns in November 2005. Financial details of the deal were not disclosed. During Friesland's ownership the company completed a transition from being a pure technical component distributor to an integral engineering solutions provider. A return on investment following the exit has not been disclosed.

Company
Doedijns is a provider of engineered solutions in the areas of hydraulics, instrumentation, pneumatics and control systems. The company was established in 1879 and its main focus is on the energy & petrochemical, maritime & dredging and high-end machine building industries.

Headquartered in Waddinxveen, the Netherlands, the company has additional offices in Belgium, France, the UK, Dubai and Malaysia. Doedijns currently employs approximately 275 people.

People
Remko Hilhorst and Gijs Marbus worked on the deal for IK.

Advisers
Equity – Kempen & Co Corporate Finance (Corporate finance); Clifford Chance (Legal); Deloitte (Financial due diligence).
Vendor – ING Corporate Finance (Corporate finance); CORP advocaten (Legal); PricewaterhouseCoopers (Financial due diligence).

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

• Topics
• Benelux
• Industrials
• Buyouts
• Exits
• IK Investment Partners
• Friesland Bank Investments
• Clifford Chance
• Deloitte
• ING
• PricewaterhouseCoopers
• Secondary buyout
• Netherlands