Gimv buys Itho Daalderop and Klimaatgarant for merger

Pending regulatory approval, the takeover will see Gimv secure a majority stake in the combined group, while the balance will be held by the management team. According to the Benelux firm, its investment is one of the largest it has ever carried out in the Netherlands.

The combination of Itho Daalderop and Klimaatgarant will result in a group generating revenues of €78m in the renovation and new construction sector. The group, which plans to double the revenues figure over the next five years, will be led by Wim van den Bogerd, formerly CEO of Itho and co-founder and director of Klimaatgarant.

The new group adds to the list of businesses within Gimv's Sustainable Cities scheme, which targets utilities, energy, waste treatment, recycling and infrastructure assets in the Benelux region, France and Germany.

Prior to Itho and Klimaatgarant, the programme backed Brakel, a climate control specialist in which Gimv secured a 75% stake in late December 2015.

Additional companies in the scheme include Belgian green energy supplier Lampiris and software developer Itineris, which were provided with a respective €40m and €8.5m in June and November 2013.

Company
Founded via the merger of Itho and Daalderop in Schiedam in 2011, Itho Daalderop specialises in climate-control services such as heating, domestic hot water and ventilation.

Meanwhile, Ridderkerk-headquartered Klimaatgarant manages energy-neutral, solar-powered schemes for municipalities, housing associations and other developers. Put together, both businesses recorded €78m in sales in 2015.

People
Gimv – Ivo Vincente (managing partner).
Iltho Daalderop, Klimaatgarant – Wim van den Bogerd (CEO).

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