NETHERLANDS - ABN AMRO sells Radio Holland

Wietske Blees
17 March 2006

Tweet
Facebook
LinkedIn
Google plus
Send to

ABN AMRO Capital and Stichting Co-Investors Radio Holland Group have agreed the sale of Dutch based Radio Holland Group to Imtech NV, for a purchase price of EUR 47m. Through this exit, ABN AMRO Capital will achieve a money multiple of 4.4x the initial investment and an IRR of 46%. Completion is subject to customary conditions and is expected to take place in April.

Radio Holland Group is a world wide sales and service network of maritime navigation and communication equipment for the ship operating and ship building industry. The network consists of Radio Holland subsidiaries and branches as well as approximately 150 service stations operated and owned by third parties.

ABN AMRO Capital and Stichting Co-Investors Radio Holland Group acquired the company in June 2002 in a management buyout from German group Euromarine. The investment thesis was built around scope for growth through increasing existing market shares and further geographical expansion. In September 2003, the management launched a new business plan. In the following years, Radio Holland Group expanded its existing business model in selected new territories and was able to strengthen its ‘service-on-demand’ activities.

Imtech has shown strong interest in the company and the combination of Imtech and Radio Holland is expected to create a further platform for growth for the company. Through this takeover, Imtech is able to double its revenues in this market segment which is expected to result in a top-5 ranking of the combined entities in the international maritime market.