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NETHERLANDS - Rabo Participaties acquires stake in Renhard BV

  • Wietske Blees
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Rabo Participaties has acquired a participating interest in Renhard BV, which is the holding company of TCL Installatietechniek BV, in order to enable the merger of TCL and BV Warmte Technisch Buro J Giesbers & JJ van der Graaf. Giesbers & van der Graaf and TCL operate in the field of residential construction and utility construction respectively. The parties are not commenting on the amount of the participating interest and the acquisition price.

TCL and Giesbers have a combined total of more than 220 employees and realise joint turnover in excess of EUR 40m.

Rabo Participaties expects an upturn in the construction sector in general and the installation sector in particular and expects a consolidation wave to occur. The addition of Giesbers & van der Graaf marks a first step towards realising Renhard’s growth strategy and is expected to provide opportunities for further consolidation.

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