PressRelease

  • PressRelease

    If a business acquisition is to have the best chance of success

    Article Fortaleza Capital | Packaging Yearbook 2019 published by NVC Netherlands Packaging Centre

    Fortaleza Capital, if a business acquisition is to have the best chance of success

    With over 1,500 small and medium-sized enterprises, the Dutch packaging landscape is highly fragmented. However, the number of companies is steadily decreasing. Entrepreneurs actively seek or are forced to collaborate for internal or external reasons. This also increases the need for specialised financial expertise, both at companies looking for acquisitions and for entrepreneurs about to sell their company. Fortaleza Capital specialises in financial advice for acquisitions in the packaging sector. Its pillars: eighty years of experience in the packaging industry, combined with extensive expertise in merger and acquisition processes.

    What is the value of my company? How can I prepare my business for a possible future sale? Is it wise to sell part or all of our enterprise? And if so, to a strategic partner or a financial investor? Which acquisition options allow us to grow our business? Can management participate? And what steps do we take as a company to reach the next level? These are some of the many questions that the Fortaleza Capital specialists answer on a daily basis.

    Extensive knowledge of the packaging industry

    Two of Fortaleza Capital’s partners are thoroughly familiar with the sector. For many years Peter van Leeuwen was managing director at Van der Windt Verpakking, nowadays part of PACOMBI GROUP.Hence Peter brings all-round packaging expertise to the table. In the field of paper and cardboard, Dirk Schut possesses the same high-level knowledge. In his previous position, he was CEO and co-owner of SolidPack, a manufacturer of solid board.

    Both partners know the business models of packaging companies like no other, from purchasing and sales processes to end markets. The two entrepreneurs have also taken over several businesses themselves and have been closely involved in the sale of the companies where they were employed. And, not unimportantly, both partners have an unmatched network and have both served as board members of relevant trade associations. Connections are therefore quickly made: synergetic relationships are clear at a glance. Thanks to this current network, Fortaleza Capital can closely follow trends and developments in the sector.

    Finding links

    Alexander van Rossum, the founder of Fortaleza Capital, is the one tasked mainly with finding possible links between potential merger partners. He looks at how companies can strengthen each other, where their added value lies and which investors could possibly join. With almost thirty years of experience in corporate finance, Alexander also provides financial advice. In addition, he manages the buying and selling process, so that entrepreneurs – busy with the daily operations – no longer have to worry about this.

    Chris de Vries, partner business valuation at Fortaleza Capital, also has a track record of decades in corporate finance. As the financial director at a multinational, he was actively involved in mergers and acquisitions and, as an independent advisor, advised on over 300 transactions. As such, Chris has a vast experience in valuing companies and in accurately assessing financial positions.

    Strategic sparring partner

    Fortaleza Capital’s advisors look beyond the financials. They also act as experienced sparring partners on corporate strategy. Such a strategy may be aimed at optimising the future potential of two merger partners through an acquisition: the 1 + 1 = 3 effect. Or at advising entrepreneurs to keep a close eye on value impacting factors, such as purchasing, sales and risk profile. The entire spectrum of the market is being addressed: paper, cardboard and plastic, and from wholesalers, transporters, recycling companies to logistics and e-commerce companies.

    The language of the entrepreneur

    The strength of Fortaleza Capital is also reflected in the approach: professional, independent, hands-on and practical, in line with how the owner of an SME thinks. No convoluted reports but documentation that gets straight to the point. No jargon, just clear language. There are no standard protocols, every situation receives a tailored approach. Attention is also paid to the relational aspect, which is always an intrinsic part of any acquisition. In many cases, these are companies where the shareholders are either family members or have been working together for a long time.

    Why Fortaleza Capital?

    The takeover of a company is always a complex process. It is a necessity – not a luxury – to have a specialist at the table. Fortaleza Capital is a partner you can rely on; a specialist in the heart of the market dealing with it on a daily basis. Thanks to this experience, a goal-oriented approach is assured and the efficiency of the process is also guaranteed. Within this thoughtful approach, consideration is given to the interests of all stakeholders. And that support gives this complex process of buying and selling a company the greatest chance of success.

  • News

    P. Van De Velde Group further enhances position in folding carton with Vekopak acquisition

    P. Van De Velde Group further enhances position in folding carton with Vekopak acquisition

    Wetteren, 20 November 2018 ‒ P. Van De Velde Group has reached an agreement for the acquisition of 100% of the share capital of Vekopak, based in Tilburg (the Netherlands). Through this acquisition, P. Van de Velde Group further expands its folding carton activities, operating under the name Van De Velde Packaging. Recently, P. Van De Velde Group acquired the folding carton companies Bergische Kartonagenfabrik (Velbert, Germany), Wesly Printing & Packaging (Maastricht, the Netherlands) and Royal Schut (Eerbeek, the Netherlands). Combining these complimentary enterprises into one strong organisation offers the group new opportunities to embrace the market shift toward folding carton packaging and folding synthetics packaging.

    Van De Velde Packaging is the folding carton department within P. Van De Velde Group and is active in Lichtervelde (Belgium), Kruishoutem (Belgium), Eerbeek (the Netherlands), Maastricht (the Netherlands), Tilburg (the Netherlands) and Velbert (Germany). The folded carton packaging is mainly distributed throughout the food, drink and healthcare markets. In addition, P. Van De Velde produces solid carton packaging in its factories in Wetteren (Belgium) and Poznan (Poland).

    P. Van De Velde Group processes some 70,000 tonnes of packaging annually with around 400 employees. The acquisition of Vekopak adds another 60 employees and bolsters Van De Velde Packaging’s position in the market for custom-made folding carton packaging in small and medium-sized runs. Vekopak is specialised in the production of premium packaging and its applications include cold foil, spot UV varnish, gold varnish, relief varnish, soft touch varnish, foil print, window patching and embossing.

    More expertise under one pan-European roof

    As a family-run enterprise, P. Van De Velde Group has a long-term growth strategy and an expansive investment policy. Businesses within the group are led with considerable autonomy and leeway for local entrepreneurship while also benefiting from the support of centralised services.

    Michel van Kuringe, one of the previous owners of Vekopak, in response to the sale of Vekopak: “Our product ranges are very complementary. We also share the same core values: craftsmanship, reliability, agility and service. The international client portfolio, scale and ambitions of P. Van De Velde Group offer our company long-term continuity, new avenues to grow and access to the experience and expertise of a large, international folding carton specialist.”

    Vekopak will continue to operate in the current form and at the same location in Tilburg and its current management team, led by Michel van Kuringe and Marco Ruiter, will remain responsible for daily business operations.

    Vekopak, established in 1991, has grown into a market player occupying a unique niche position in the packaging industry with an outstanding reputation. With its state-of-the-art machinery, Vekopak produces folding carton packaging for an extensive and international customer base in the tobacco, cosmetics, beverage and food industries. Vekopak products perform optimally in the areas of protection, logistics, use and communication power. www.vekopak.nl

    Fortaleza Capital acted in this transaction as corporate finance advisor to the shareholders of Vekopak and NeXt Advocaten as legal advisor: www.fortalezacapital.nl;  www.nextadvocaten.nl.
    BarentsKrans acted as legal advisor to P. Van De Velde Group and Lansigt as financial advisor: www.barentskrans.nl; www.lansigt.nl.

  • News

    Adviser to Écart Invest on the acquisition of a majority stake in Doosopmaat.nl

    Adviser to Écart Invest on the acquisition of a majority stake in Doosopmaat.nl

    Fortaleza Capital acted as exclusive corporate finance adviser to Écart Invest on the acquisition of a majority stake in Doosopmaat.nl.

    About Doosopmaat.nl: Doosopmaat.nl is a box manufacturer that produces corrugated transport packaging, which it markets through its state-of-the-art e-commerce platform Doosopmaat.nl to small and medium-sized businesses. Products include American folding boxes and mail boxes, which customers can order tailor-made in various board qualities and types of printing.

    By offering small series of custom-made boxes online, the company has been able to differentiate itself from other box suppliers. Doosopmaat.nl has consequently grown rapidly over time and has been awarded the “FD Gazelle Award”, a prize for the fastest growing companies in the Netherlands, for five years in a row now (2013 through 2017).

    Jos Knulst, who founded the company 16 years ago, retains a minority stake. He will remain director until a successor has been found, after which he will become a supervisory director and will remain involved as a shareholder of Doosopmaat.nl.

    Écart Invest has a long-term horizon and will support the company with further growth. Leo Zijerveld of Écart Invest comments: “We will be intensifying marketing efforts and be taking sales teams on the road.” By producing custom-made boxes, also in small order sizes, Mr Zijerveld anticipates further sales potential for the SME market in the Netherlands. Subsequently, other countries will be targeted.

    About Écart Invest: Since 1993, Écart Invest (“Écart“) combines the professionalism of a private equity firm with the decisiveness and expertise of experienced entrepreneurs. Écart invests with an eye for continuity and growth.

    Écart participates for an indefinite period of time, thus providing the opportunity to take part in a long-term venture. Écart focuses on medium-sized Dutch-headquartered companies, investing from €1.0 million to €8.0 million per participation. Although Écart’s expertise is not confined to one single sector, it has gained a relatively large amount of specialised knowledge in the areas of packaging, HR Services and IT.

    The participation in Doosopmaat.nl is the third packaging company in which Écart has invested. Since 2009, Écart has had an interest in bag closures manufacturer Schutte bagclosures. Additionally, since 2014 it is invested in SFA Packaging, a supplier of injection moulded packaging. Écart nowadays has invested a total of some €12 million in the packaging sector.

  • News

    P. Van De Velde Group further strengthens position in folding carton with Bergische Kartonagenfabrik acquisition

    P. Van De Velde Group further strengthens position in folding carton with Bergische Kartonagenfabrik acquisition

    Wetteren, 4 October 2018 ‒ P. Van De Velde Group has reached an agreement for the acquisition of 100% of the share capital of Bergische Kartonagenfabrik Fritz Nießen, based in Velbert (Germany). With this acquisition, P. Van de Velde expands its folding carton activities, operating under the name Van De Velde Packaging, further in the German market.

    Recently, P. Van De Velde Group already acquired the Netherlands-based folding carton companies Wesly Printing & Packaging (Maastricht) and Royal Schut (Eerbeek). Combining these complimentary enterprises into one strong organisation offers the group new opportunities to embrace the pan-European market shift toward folding carton packaging and folding synthetics packaging.

    As a family-run enterprise, P. Van De Velde Group has a long-term growth strategy and an expansive investment policy. Businesses within the group are led with considerable autonomy and leeway for local entrepreneurship while also benefiting from the support of centralised services.

    Bergische Kartonagenfabrik’s location will continue to operate in the current form and at the same address in Velbert (North Rhine-Westphalia, Germany). The company’s current management team will remain responsible for daily business operations.

    Bergische Kartonagenfabrik, established in 1931 by Fritz Nießen in Velbert, expanded over time from a small family-run business to a solid market player in the packaging industry with a strong reputation. Bergische Kartonagenfabrik operates state-of-the-art machinery and is specialised in the manufacture of cardboard products for both the food and non-food sector for its extensive customer base in Germany, the Netherlands, Belgium and France.

    Fortaleza Capital acted in this transaction as corporate finance advisor to P. Van De Velde Group, Oppenhoff & Partner as legal advisor and DELTA Revision as financial advisor: www.fortalezacapital.nl ; www.oppenhoff.eu ; www.delta-revision.de.
    Nachfolgekontor acted as corporate finance advisor to Bergische Kartonagenfabrik: www.nachfolgekontor.de.

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