REFERENCES

  • Packaging & Paper/Board

    Adviser to Cemex Trescon on the acquisition of Buurman Facilitaire Producten

    Fortaleza Capital acted as exclusive corporate finance adviser to Cemex Trescon on the acquisition of Buurman Facilitaire Producten

    About Buurman Facilitaire Producten: Buurman Facilitaire Producten (Buurman), established in 1985 and headquartered in Oldenzaal (the Netherlands), is a leading wholesaler of disposables, packaging and facility products in the eastern part of the Netherlands.

    The extensive product range is available on-line at Buurman’s webshop and includes disposables, packaging, sanitary paper products, cleaning & disinfection products, work shoes & clothing and coffee & catering products. Buurman’s clients are small and medium-sized businesses with whom the company has built long-standing and close relationships. The company combines a one-stop shop solution with a strong service offering driven by its sophisticated ERP-system allowing for seamless integration with customers’ IT-systems providing clients with optimal inventory management and short delivery times.

    Ronald Buurman (CEO) commented: “Our decision to join forces with Cemex Trescon stems from our ambition to provide customers the premier one-stop shop solution for all their facility products, disposables and packaging requirements. The combined product offering of both companies is second to none in the Dutch market and also brings us new expertise and financial strength. Our companies also share the same entrepreneurial spirit and core values of professionalism, reliability, and quality. Together we have the perfect ingredients to expand Buurman’s strong position even further.”

    About Cemex Trescon: Cemex Trescon, established in 1908 and headquartered in Bleiswijk (the Netherlands), is a wholesaler of hygiene, safety & health care products. The product range contains more than 6,000 products from both well-known brands and the company’s own brand “CMT”. Customers served are active in food, health care, industry, beauty, hospitality, and facility services. The health care sector is served through its subsidiary G3-Medical.

    Alex de Graaf, CEO of Cemex Trescon: “We have experienced strong growth in recent years and have ambitious investment plans to continue this growth. The acquisition of Buurman fits well with our long-term expansion strategy. Buurman is a great company with a cast-iron reputation and a valuable addition to our offering.”

    Buurman will continue to operate from the current location in Oldenzaal under the direction of Ronald Buurman and Karin Lammers, who heads the integration of Buurman within Cemex Trescon.

    The combined enterprise Cemex Trescon/ Buurman has a total of 76 employees and annual revenue of €50 million.  

  • Packaging & Paper/Board

    Adviser to Bark Packaging Group on the sale of a minority stake to Quadrum Capital

    Fortaleza Capital exclusive corporate finance adviser to Bark Packaging Group on the sale of a minority stake to Quadrum Capital

    Fortaleza Capital acted as exclusive corporate finance adviser to the shareholders of Bark Packaging Group on the sale of a minority stake in the company to Quadrum Capital.

    About Bark Packaging Group: Bark Packaging Group (BPG), established in 1978 and headquartered in Eerbeek (the Netherlands), is a leading added-value intermediary for rigid and flexible packaging. BPG has evolved from a traditional packaging wholesaler into an important link in the business column when it comes to service provision in the field of packaging management in its clients supply chain. This includes taking over the total purchasing, logistics, stock management and financing of the client’s entire packaging needs.
    Via Bark Innovations BPG also offers its clients supplementary services in the form of the (re)design of packaging and the development of new packaging concepts.

    In addition to its head office in Eerbeek the company, under the name Bark Verpackungen, also serves the Germany market from its Stuttgart office.

    Dutch Pack International, also part of BPG and based in Utrecht, supplies flexible packaging to retail and B2B clients.

    BPG has a total of 36 employees and annual revenue of €40 million.

    Berny Plas from BPG: “We have made robust growth in recent years and we have ambitious plans to keep on growing. For BPG the decision to enter into a partnership with Quadrum Capital fits seamlessly with this ambition. Quadrum Capital shares our long-term vision and brings expertise and financial strength. As companies we also share the same core values of enterprise, professionalism, reliability and quality. For us this means that together we have the perfect ingredients with which to expand BPG’s strong position even further.”

    About Quadrum Capital: Quadrum Capital is an involved investment company focused on helping, in a responsible manner, companies to achieve their growth ambitions. The input of high-quality management experience, a keen vision, network, financial strength and a focus on strategy and management form the basis for this. Quadrum Capital is hallmarked by strong regional roots, an entrepreneurial mentality and a no-nonsense approach and since its founding in 2012 has built-up a broad portfolio of participations in various sectors, spread across three funds and various separately-financed investments.
    Arjan Hoop from Quadrum Capital, for which the packaging industry is one of the spearhead sectors in its investment policy: “Bark Packaging Group is a great company with a cast-iron reputation in the packaging industry and a valuable addition to our portfolio in this sector. An extensive client base in the Netherlands and Germany, innovative packaging concepts and a differentiating position in the market are a solid foundation for the further international growth BPG has in mind. BPG also offers its clients exceptional added-value by taking over the total packaging management so clients really do have the worries taken off their shoulders. Together with the BPG team we are setting to work to bring about the Company’s accelerated international growth.”
    The partnership with Quadrum Capital will enable BPG to focus on the accelerated rolling-out of its innovative packaging concepts. Erik Bos, currently the CCO at BPG, will take over the role of CEO from Berny Plas, who will remain actively involved in the Company. There will be no further changes to the BPG management team. The facilities in Eerbeek and Utrecht (the Netherlands) and Stuttgart (Germany) will continue in the same format and at the same locations.

  • Packaging & Paper/Board

    Adviser to DozenProducent.nl on the sale to Bonsema Verpakking

    Fortaleza Capital exclusive corporate finance adviser to DozenProducent.nl on the sale to Bonsema Verpakking

    Fortaleza Capital is pleased to announce it acted as exclusive corporate finance adviser to the owners of DozenProducent.nl on the sale of the company to Bonsema Verpakking.

    About DozenProducent.nl: DozenProducent.nl, based in Groningen (The Netherlands), has a 25 year track record in the production of customised corrugated cardboard folding boxes, die-cut boxes and mail boxes for SMEs. Order size is highly flexible and ranges from 1 box to 100,000 boxes. Customers can easily calculate and order customised boxes through the online and proprietary box configurator on the company’s website. Through this intuitive and versatile webshop it is easy to choose desired box specifications including box type, dimensions, desired quantities, cardboard quality, cardboard colour and handles, inlays, interiors and divisions.

    Boxes can be printed in one or two colours as well as in full colour. As required, the Company offers its customers additional services such as designing, drawing and producing sample copies. In addition to customised boxes, DozenProducent.nl supplies a wide range of standardised corrugated stock boxes and offers a range of packaging materials including tape, kraft paper and wrapping film. Custom orders are delivered within 5 to 10 business days and stock products within 1 to 3 business days.

    Dozenproducent.nl distinguishes itself through its high level of expertise, extensive market knowledge and long-term track record, creativity, complete product range, short lead times and innovative capacity.

    Gertjan Pathuis and Margreet Pathuis, founders and owners of DozenProducent.nl jointly stated: “After exactly 25 years of entrepreneurship we have opted for a better balance between work and private life. An extensive strategic review of potential buyers has led to selling our company to Bonsema Verpakking. Bonsema Verpakking has been a well-known name in packaging for over 100 years and, just like DozenProducent.nl, quality and service are of paramount importance to them. With Bonsema Verpakking we are convinced that our longstanding reputation for high product quality and an excellent service level are safeguarded”.

    About Bonsema Verpakking: Bonsema Verpakking, established in 1917, is a family-owned packaging wholesaler. Over time, the company has specialised in the supply of packaging materials to industry and business, supplying a broad range of packaging including cardboard folding boxes, packaging foil, waste bags, moving boxes, adhesive tape, tape to air-cushion envelopes and carrier bags. The acquisition of DozenProducent.nl constitutes a further extension of Bonsema Verpakking’s product range.

    The brand name ‘DozenProducent.nl’ and the website www.dozenproducent.nl will be maintained under the new ownership. In February 2020, all of Dozenproducent.nl’s employees will move to the new premises of Bonsema Verpakking in Kolham (province of Groningen). Both Gertjan Pathuis and Margreet Pathuis will continue working at the company.

    About Fortaleza Capital: Fortaleza Capital is an independent corporate finance advisory firm focused on three sectors: Packaging & Paper/Board; Recycling, Waste Management & Energy; and Services, Media & Technology. In these sectors, we have built a solid track record and have developed an intricate and ever-growing network of senior executives and industry experts, allowing us to realise added value for our clients.

    We are truly Packaging & Paper/Board sector specialists and our team members have a collective track record of more than 90 years in this industry. Our extensive experience in managing complex transaction settings allows us to assess assignments in the Packaging & Paper/Board sector in a strategic and practical context. We understand the opportunities and challenges that reign throughout the value chain and have an unparalleled network in the Dutch packaging market.

    More information on Fortaleza Capital and our track record can be found at www.fortalezacapital.nl.

  • Packaging & Paper/Board

    Adviser to Royal Sens on the sale to Quadrum Capital

    Fortaleza Capital exclusive corporate finance adviser to Royal Sens on the sale to Quadrum Capital

    Fortaleza Capital is pleased to announce it acted as exclusive corporate finance adviser to the shareholders of Royal Sens on the sale of the company to Quadrum Capital.

    About Royal Sens: Royal Sens, established in 1896, is a leading producer of high-quality labels for the food and non-food packaging industry. From its two production locations in the Netherlands and offices in Germany and England, Royal Sens serves renowned national and international customers. With a continuous focus on flexibility, quality and sustainability, Royal Sens is able to deliver high quality for even the most complex applications and forms a reliable, valuable partner for its customers.

    Royal Sens has 200 employees, a turnover of more than €40 million and produces more than 8 billion labels annually from both plastic and paper.

    Jan Geitenbeek, CEO of Royal Sens: “We have experienced strong growth in recent years and have ambitious investment plans to continue this growth. The choice to sell Royal Sens to Quadrum Capital fits in seamlessly with this. Quadrum Capital shares our long-term vision and brings with it knowledge and financial strength. As companies, we also share the same core values, with “entrepreneurship, craftsmanship, reliability and quality”. This provides us with the ideal ingredients to further expand Royal Sens’s strong position.”

    About Quadrum Capital: Quadrum Capital is a nationally operating investment company with offices in central and eastern Netherlands. Quadrum Capital has a strong entrepreneurial mentality and a broad portfolio of investments in various sectors. The packaging industry is one of the key sectors on which Quadrum Capital focuses.

    Under the umbrella of Quadrum Capital, Royal Sens will accelerate the implementation of its innovative investment program in the context of its international growth ambitions. The current Royal Sens management team, under the leadership of CEO Jan Geitenbeek, remains responsible for day-to-day operations, Both production sites in Rotterdam and Enschede, along with the sales offices in England and Germany, will continue to exist in the current form at the same locations.

    The press release can be found here (English) and here (Dutch).

    About Fortaleza Capital: Fortaleza Capital is an independent corporate finance advisory firm focused on three sectors: Packaging & Paper/Board; Recycling, Waste Management & Energy; and Services, Media & Technology. In these sectors, we have built a solid track record and have developed an intricate and ever-growing network of senior executives and industry experts, allowing us to realise added value for our clients.

    We are truly Packaging & Paper/Board sector specialists and our team members have a collective track record of more than 90 years in this industry. Our extensive experience in managing complex transaction settings allows us to assess assignments in the Packaging & Paper/Board sector in a strategic and practical context. We understand the opportunities and challenges that reign throughout the value chain and have an unparalleled network in the Dutch packaging market.

    More information on Fortaleza Capital and our track record can be found at www.fortalezacapital.nl.

  • Packaging & Paper/Board

    Adviser on the acquisition of Honicel

    Fortaleza Capital acted as exclusive corporate finance advisor on the acquisition of Honicel

    About Honicel: Honicel, established in the 1950’s, develops and manufactures paper-based honeycomb structures that are used as core materials in sandwich constructions, originally in the aviation industry and nowadays in an ever-growing variety of applications. These include doors (of busses, trains, elevators and rooms), partitions, furniture and automotive panels (e.g., sunshades, spare tire covers, trunk plates, door trim panels, hat boards and roofing).

    Honicel’s paper honeycomb is 100% made from FSC-certified materials and can be fully recycled. Its unique characteristics include: excellent strength/bending/load bearing capacity, outstanding deformation and shock absorption properties, light weight, versatile (easily adapts to any shape), easy to process and cost effective.With its state-of-the-art machinery, oftentimes developed in-house, the company manufactures its paper honeycomb for both large corporations and SME-enterprises. Long-lasting and durable win-win customer relationships are key to Honicel’s proposition.

    A majority stake in Honicel has been acquired by Dirk Schut, Industry Partner Paper & Board at Fortaleza Capital and previously CEO and co-owner of solid board manufacturer SolidPack. Mr. Schut has also been appointed CEO of Honicel, effective immediately.

    Dirk Schut in response to the transaction: “Honicel is sizeable market player occupying a unique niche position in the paper-based industry with an outstanding reputation and a track record of continuous innovation. Honicel paper honeycomb is clearly recognised by more and more customers as a core material in sandwich constructions with unparalleled performance characteristics. We will continue to focus on our long-term customer relationships and explore further avenues for innovative growth of our exceptional and environmentally friendly products”.

    Honicel will continue to operate in the current form and at the same location in Zelhem (the Netherlands) and its current management team, led by Dirk Schut, will remain responsible for daily business operations.

  • Packaging & Paper/Board

    Adviser to Vekopak on the sale to P. Van De Velde Group

    Fortaleza Capital acted as exclusive corporate finance adviser to the shareholders of Vekopak on the sale of the company to P. Van De Velde Group

    About Vekopak: Vekopak, established in 1991, develops and manufactures custom-made, premium folding carton packaging. Specialised applications include cold foil, spot UV varnish, gold varnish, relief varnish, soft touch varnish, foil print, window patching and embossing. Consequently, the company has grown into a market player occupying a unique niche position in the packaging industry with an outstanding reputation.

    With 60 employees and state-of-the-art machinery, Vekopak produces folding carton packaging in small and medium-sized runs 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.

    Michel van Kuringe, one of the previous owners of Vekopak, in response to the sale of Vekopak to P. Van De Velde Group: “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.”

    About P. Van De Velde Group: P. Van De Velde Group is a family-owned business with a long-term growth strategy and an expansionary 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. 

    Through the acquisition of Vekopak (Tilburg, NL), 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, NL) and Royal Schut (Eerbeek, NL). In addition, Van De Velde Packaging has folding carton activities in Lichtervelde (Belgium) and Kruishoutem (Belgium). 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. The folded carton packaging is mainly distributed throughout the food, drink and healthcare markets.

    P. Van De Velde furthermore produces solid carton packaging in its factories in Wetteren (Belgium) and Poznan (Poland). Altogether, P. Van De Velde Group processes some 70,000 tonnes of packaging annually with around 460 employees.

    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. 

    The press release can be found here (English) and here (Dutch).

  • Packaging & Paper/Board

    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.

  • Packaging & Paper/Board

    Adviser to P. Van De Velde Group on the acquisition of Bergische Kartonagenfabrik Fritz Nießen

    Fortaleza Capital acted as exclusive corporate finance adviser to P. Van De Velde Group in the acquisition of Bergische Kartonagenfabrik Fritz Nießen

    About Bergische Kartonagenfabrik Fritz Nießen: Bergische Kartonagenfabrik, established in 1931 by Fritz Nießen in Velbert (Germany), 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.

    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.

    About P. Van De Velde Group: P. Van De Velde Group is a family-owned business with a long-term growth strategy and an expansionary 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.

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

    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.

    The press release can be found here (English) and here (German).

  • Packaging & Paper/Board

    Adviser to LIVIA Group on the acquisition of the Baden Board & Packaging facility from Smurfit Kappa

    Fortaleza Capital acted as exclusive corporate finance adviser to LIVIA Group on the acquisition of the Baden Board & Packaging facility from Smurfit Kappa

    About Smurfit Kappa Baden Board & Packaging: The Baden Board & Packagingfacility, which turns over c. €100 million annually and has 298 employees, is located in Gernsbach in Southwest Germany and comprises both a mill and a board conversion plant. The mill produces recycled carton board and the conversion plant manufactures folding board boxes. The white line chipboard commodity grade produced is not a core paper grade for Smurfit Kappa and this has been a key factor in the decision to sell the site.

    The Baden mill produces 152,000 tonnes of board per annum which is used to create primary packaging for a variety of products and the conversion facility converts 64 million square meters of board annually.

    “We are delighted to have closed this deal. The two Smurfit Kappa Baden plants fit our investment focus very well, as they will require a partner to support the successful implementation of sustainable growth and optimization strategies. Together with the dedicated workforce we will further develop existing customer relationships and focus on new business opportunities in the board and packaging market.“ states Prof. Dr. Dr. Peter Löw, founder and owner of LIVIA Group.

    In addition to continuing the carton production and conversion activities of Smurfit Kappa Baden Board GmbH on a stand-alone basis, the company will focus on expanding its strong market position. LIVIA can count on the support of the current management and will further strengthen the team in strategic areas such as sourcing, marketing and sales. This will also include recruitment of new employees, a staff reduction is not planned.

    About LIVIA Group: LIVIA Group is an independent industrial holding as well as the private investment enterprise of Prof. Dr. Dr. Peter Löw, with funds under management of more than €750 million. LIVIA invests in a diverse spectrum of assets, ranging from corporate, agricultural and opportunistic investments to real estate, emerging markets, and fine arts & antiques. More than 250 executed transactions has made LIVIA’s management a preferred and trusted partner of international corporations and financial institutions.

    LIVIA Corporate Development is specialized in acquiring European corporate spin-offs/ carve-outs as well as midsized companies with revenues between €20 million and €1.5 billion. The focus is on business transformations and acquisitions of underperforming companies with operational improvement potential as well as add-on acquisitions for existing platform investments to realize synergies.

    The press release can be found here (English and German).

    About Smurfit Kappa: Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with around 46,000 employees in approximately 370 production sites across 35 countries and with revenue of €8.6 billion in 2017. The company is located in 22 countries in Europe, 13 in the Americas and is the only large-scale pan-regional player in Latin America.

  • Services, Media & Technology

    Adviser to GreenFlux on its €11 million funding from Eneco Group, SET Ventures, BOM and ICT Group

    Fortaleza Capital acted as exclusive corporate finance adviser to GreenFlux on its €11 million funding from Eneco Group, SET Ventures, BOM and ICT Group

    About GreenFlux: GreenFlux, headquartered in Amsterdam, provides an electric mobility infrastructure management platform that supports the operations of charge point operators all over the world. GreenFlux helps energy companies, grid operators and automotive players to manage charge stations, enable roaming and billing and implement smart charging for advanced energy management. The GreenFlux service platform is cloud-based and seamlessly connects with charge stations of any type or brand. GreenFlux’s award winning controller, enabling advanced smart charging, can be fitted in any charge station.

    The coming years millions of electric vehicles will enter the market. For this transition to happen, charging must be frictionless and easy to use. The GreenFlux platform drives down the cost of operations for charge point operators and enables them to provide an outstanding service experience to their customers. Combined with state-of-the-art smart charging technology that ensures the stability of the grid, electric vehicles will become an important enabler for a sustainable future.

    As part of a total Series B financing round of €11 million, sustainable energy company Eneco Group and independent investment fund SET Ventures have both acquired a minority stake in GreenFlux Assets BV. Existing GreenFlux shareholders BOM Brabant Ventures and ICT Group also participated in this funding round. This investment in a leading enabler of electric driving and smart charging supports Eneco Group’s and SET Ventures’ ambitions to accelerate the energy transition by means of technology.

    GreenFlux founders, Hans de Boer and Jurjen de Jong: “We are very happy this investment provides the opportunity to power dominant EV charge point operators in Europe, US and Asia. A big step forward in fulfilling our dream that all cars will be powered by renewable energy”.

    Joeri Kamp, managing director Eneco Smart Energy: “Eneco is fully committed to speed up the transition to a more sustainable energy system. We believe that e-mobility and smart, real-time charging from renewable sources are essential parts of that system. This is a purpose we share with the team at GreenFlux. Through our investment we want to help them bring their front running service platform and controller to the next level and accelerate international expansion.”

    “The team at Greenflux has succeeded in establishing a leading position in EV infrastructure management’ said Anton Arts, Associate Partner at SET Ventures. ‘This investment enables them to accelerate international expansion and drive the pace of innovation in this market forward.”

    About Eneco Group: Eneco Group is a group of companies active internationally in the field of renewable energy and innovation. Together with their customers, partners and more than 3,000 employees, they work on their mission: sustainable energy for all. They invest in wind farms, biomass plants, heat and solar parks to increase the supply of renewable energy. And they develop innovative products and services so that their customers can control how to generate, store, use or share energy.

    About SET Ventures: Since 2007, Amsterdam-based SET Ventures has invested in European technology companies that impact the future of the energy sector. SET Ventures focuses broadly on innovative energy generation, energy distribution and storage and energy efficiency. SET’s investment priority is for those ventures that develop software-based services for the energy sector, with or without hardware components, defined by SET Ventures as smart energy solutions.

    The press release can be found here (English) and here (Dutch).

  • Packaging & Paper/Board

    Adviser to P. Van De Velde Group on the acquisition of Wesly Printing & Packaging

    Fortaleza Capital acted as exclusive corporate finance adviser to P. Van De Velde Group in the acquisition of Wesly Printing & Packaging

    About Wesly Printing & Packaging: Wesly Printing & Packaging, established in 1858, expanded from a small family-run business to a solid market player in the packaging industry with a strong reputation. Wesly, based in Maastricht (the Netherlands), 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 the Netherlands, Belgium and Germany.

    Wesly Printing & Packaging adds 60 employees, 3,000 tons of packaging and ca. €10 million in turnover to P. Van De Velde Group.

    About P. Van De Velde Group: P. Van De Velde Group is a family-owned business with a long-term growth strategy and an expansionary 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. P. Van De Velde Group processes some 50,000 tonnes of packaging annually.

    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) and Maastricht (the Netherlands). 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 factory in Wetteren (Belgium) and in Poznan (Poland).

    Set for Further Growth: Due to the complementary portfolios, the acquisition of Wesly Printing & Packaging shortly after the acquisition of Royal Schut strengthens Van De Velde Packaging’s position in Europe, and within the Dutch market in particular. Importantly, it offers the group new opportunities to embrace the market shift toward folding carton packaging and folding plastic packaging.

    Ron van Gog, previous owner and director of Wesly Printing & Packaging, on the transaction: “I’m very enthusiastic about the opportunities that this will provide to our company. The complementarity with Royal Schut, international client portfolio and ambitions of P. Van De Velde Group will enable us to achieve our growth objectives.”

    Wesly’s production facility will continue to operate in the present form and at the same location in Maastricht (the Netherlands). Wesly’s current management team, led by Ron van Gog, will remain responsible for daily business operations.

  • Services, Media & Technology

    Adviser to a co-founder of Blink on the sale of his stake to private investors

    Fortaleza Capital acted as exclusive corporate finance adviser to a co-founder of Blink in the sale of his substantial minority stake to private investors

    About Blink: Blink is a young, innovative educational publisher in primary education, secondary education and children’s media with its own, distinctive approach towards learning. Blink’s educational vision, overarching publishing concept and teaching concepts are developed in close co-operation with hundreds of teachers, pupils, school leaders, experts and scientists. The company’s proposition is centred around playful learning through Blink’s sparkling multi-media concepts.

    The company was founded in 2009 after the management buy-out of four children’s magazines, then owned by Malmberg/ Sanoma, targeted at the Dutch and Belgian market: “National Geographic Junior”, “Bobo”, “Okki” and “Taptoe”. In 2016, Blink successfully launched the magazine “Wild van Freek” jointly with Freek Vonk. Since its establishment, Blink expanded into educational publishing with four teaching methods in primary education: English (launch 2012), History (2013), Geography (2013), Nature & Technology(2013) and three methods in secondary education: Dutch (launch 2015), English (2017) and History (2017) and one in final preparation for launch this year.

    Blink has c. €10 million in turnover and c. 200 employees (including freelancers).

    Joachim Driessen, co-founder of Blink, sold his substantial minority stake in Blink to several private investors in this transaction. Mr. Driessen about the deal: “Exactly nine years ago we launched our independent, successful publishing house (Blink) with splendid children’s brands, the first teaching method for primary education based on pop music (Groove.me), Wild van Freek, many prizes, but also difficult periods. I have now sold my shares to private investors and am proud of how we managed to turn loss-making magazine brands into a thriving company with innovative teaching methods. Blink has a bright future and I wish readers of the magazines, users of the teaching methods, employees of Blink and its shareholders a great deal of fun and success and will forever feel a bit a ‘Blinker’”.

  • Packaging & Paper/Board

    Adviser to Cire Facility Group on the acquisition of TCW Group

    Fortaleza Capital acted as exclusive corporate finance adviser to Cire Facility Group on the acquisition of TCW Group

    About TCW Group:TCW Group, established in 2001, is one the largest business to business companies in the non-food sector supplying restaurants, hotels and other food-related companies. TCW is based in Utrecht (the Netherlands) and delivers solutions to 2,000 companies, offering its clients a well-structured team and a carefully composed network of suppliers and distributors. TCW believes in convenience, efficiency and innovation and offers straightforward, but relevant services and an extensive product range as well as tailor-made programmes to its clients. The extensive product range encompasses over 10,000 products, from tableware (e.g., wine glasses and dinnerware) to large-scale investment goods (e.g., dishwashers, ovens, lighting, entire kitchens, catering and/or dining rooms).

    Additionally, TCW offers packaging products and creates new, tailor-made product concepts, whereby the chosen service product is adjusted or decorated according to customers’ wishes. Furthermore, TCW offer stock-keeping for all products at its warehouse in Utrecht and can supervise the entire purchasing policy and logistics services.

    About Cire Facility Group:Cire Facility Group is a venture capital company that, together with its subsidiary companies, forms a leading group of facility service providers. Cire’s clients primarily come from the office, hotel, healthcare and leisure sectors. Cleaning, wholesaling, secondment and facility management are the main activities of Cire’s subsidiary companies, which operate fully independently under their own brands. Collectively, they make use of Cire Facility Group’s network and strong back office. Around 4,000 people work at Cire Facility Group.

    TCW Group has become part of Cire’s subsidiary Facility Trade Group, which also comprises the companies Blue Wave, ASP and Dirksen.

  • Packaging & Paper/Board

    Adviser to P. Van De Velde Group on the acquisition of Royal Schut

    Fortaleza Capital acted as exclusive corporate finance adviser to P. Van De Velde Group on the acquisition of Koninklijke Schut (Royal Schut)

    About Koninklijke Schut: Koninklijke (Royal) Schut N.V., established in 1886, has grown from a small family-run business to a sizeable and reputable player with a firm market position in the packaging industry. Koninklijke Schut operates through two subsidiaries: Schut Packaging and Schut Systems. Schut Packaging creates added value for customers in the food and non-food sectors with the smartest packaging solutions – from folding carton to folding plastic or any combination of these materials. Schut Systems supplies machines for setting-up, filling and closing carton boxes and trays as well as machines for applying carton sleeves. Koninklijke Schut adds 100 employees, 10,000 tons of packaging and more than €20 million in turnover to P. Van De Velde Group.

    About P. Van De Velde Group: P. Van De Velde Group is a family-owned business with a long-term growth strategy and an expansionary investment policy. Businesses within the group are led with considerable autonomy and space for local entrepreneurship while also benefiting from the support of centralised services. P. Van De Velde Group processes some 40,000 tonnes of packaging annually. Van De Velde Packaging is the folding carton business unit of P. Van De Velde Group and has activities in Lichtervelde (Belgium), Kruishoutem (Belgium) and Poznan (Poland). The folding carton packaging produced is mainly sold to the food, beverage and healthcare sectors. In addition, P. Van De Velde produces solid board packaging at its plant in Wetteren (Belgium).

    Set for Further Growth: Due to the complementary portfolios, the acquisition of Koninklijke Schut strengthens Van De Velde Packaging’s position in Europe, especially within the Dutch market. Importantly, it offers the group new opportunities to embrace the market shift toward folding carton packaging and folding plastic packaging. Jos Hoogendijk, general manager of Koninklijke Schut on the transaction: “I’m very enthusiastic about the opportunities that this will provide to our company. The international client portfolio and the ambitions of P. Van De Velde Group will enable us to achieve our growth objectives.” Koninklijke Schut’s two production facilities will continue to operate in the present form and at the same locations in Eerbeek (The Netherlands). Schut’s current management team will remain responsible for daily business operations. The press release can be found here (English) and here (Dutch).

  • Services, Media & Technology

    Adviser to Keylane on the acquisition of Bridgevest

    Fortaleza Capital acted as exclusive corporate finance adviser to Keylane on the acquisition of Bridgevest.

    About Bridgevest: Bridgevest, a SaaS and consultancy provider, is the market leader in The Netherlands in Bigdata solutions for financial services. As a fast-growing FinTech company, Bridgevest focuses on data-driven solutions for the Wealth and Retirement Management sector. The company provides its clients with in-house developed software tools allowing them to make the step to a client-centric, technology focused and (big) data driven business model. Bridgevest has all the required disciplines in-house: retirement and finance experts, marketing and communications specialists, business analysts, front and back end developers, security officers, process managers and administrators (ISO, ISAE) and programme managers.

    The partnership between Bridgevest and Keylane creates a powerful combination in the pension market allowing customers to arrange their pensions digitally and fully. Enabled by the seamless integration of the customer service and underlying administration software and facilitating digital pension administration throughout the value chain.

    Edzko Smid, CEO Bridgevest and responsible for rolling out the joint proposition within Keylane: “The partnership between Keylane and Bridgevest creates synergy. Of course, we already have links with all standard back-office packages, but we can go a step further within the Keylane group. In combination with Keylane, a fully integrated software suite will be created with which participants and employers can be served throughout the entire pension chain. In addition to high-quality customer service, this also makes administering pensions more efficient. Last but not least, it provides a fitting response to the growing demand for more compliance and control as this is also a vital part of integrated customer service. We are very enthusiastic about making a great success of our joint proposition.”

    About Keylane: Keylane is a leading European supplier of SaaS-based software solutions for insurers and pension institutions. Keylane develops and implements flexible standard software for the core processes of life and non-life insurers and pension institutions. More than one hundred financial service providers in Europe use Keylane’s software and achieve measurable results such as a reduction in costs, a reduction of the time-to-market and higher levels of customer satisfaction. Thanks to its in-depth knowledge of the industry and world-class technology, Keylane is able to offer its clients an excellent service.

    Ronald Kasteel, Executive Board Member at Keylane said: “The market is entering a world in which digital customer services and a rich customer experience are determining success factors. The progressive development towards increasingly individual pensions with more risks and personal responsibilities only reinforces this. It also gives rise to calls for more smart data-driven communication with the participant to help them handle this responsibility. Bridgevest provides us with the software needed for this and the right customer-focused DNA. This strengthens our range for Dutch customers and, because Bridgevest’s products can also be deployed in other European countries, it supports our international strategy.”

  • Services, Media & Technology

    Adviser to the shareholders of Telecats on the sale of the company to Webhelp Netherlands

    Fortaleza Capital acted as exclusive corporate finance adviser to the shareholders of Telecats on the sale of the company to Webhelp Netherlands.

    About Telecats: Telecats is the Dutch market leader for speech recognition in customer contact solutions. These solutions include customer identification, call steering, self-service and analytics. The use of speech technology in contact centres has proven to increase NPS (Net Promoter Score) and employee satisfaction, while reducing average handling time and repeat traffic. The Telecats systems are deployed by many clients, handling millions of calls each month. Telecats’ headquarters shall remain in Enschede which will facilitate the anticipated growth over the coming years. The current management and staff have maintained a shareholding interest in the company. Telecats will continue to be led by the current management: Jan Willem Mulder, Martin Spitholt and Wim Luimes.

    Wim Luimes, CCO of Telecats about the deal: “I am very enthusiastic about the possibilities for our company. The international portfolio and Webhelp’s ambitions will undoubtedly help us meet our growth ambitions. As experience innovators we could not have found a better partner and look forward to making use of our combined expertise to create a sustainable improvement in customer experience”.

    About Webhelp: Webhelp is a global business process outsourcer (BPO), specialising in customer experience and payment management in addition to sales and marketing services across voice, social and digital channels. From 26 countries with a 35,000-strong team, Webhelp focuses on engineering performance improvements and delivering a real and lasting transformation in its clients’ operating models to generate financial advantage. Webhelp partners with some of the world’s most progressive brands including KPN, Vodafone, Michael Kors and Valentino. Headquartered in Paris, France, the company has grown its revenues by more than 250% in the last 4 years. Webhelp is owned by its management and KKR.

    Gert-Jan Morsink, CEO Webhelp Netherlands and member of the Board of Directors at Webhelp said: “We are very pleased with this acquisition and the new opportunities this presents to our clients. Our clients can expect to see us drive a new technical agenda for smart solutions with best in class technology paired with our unrivalled human touch. This allows us to further improve the customer experience and reducing the total cost of ownership through smart solutions”.

    The press release can be found here (English) and here (Dutch).

  • Packaging & Paper/Board

    Adviser to Active Capital Company on the acquisition of Codi Group from Value Enhancement Partners

    Fortaleza Capital acted as exclusive corporate finance adviser to Active Capital Company on the acquisition of Codi Group from Value Enhancement Partners.

    About Codi Group: Codi Group develops, produces and markets wet wipe products for a wide range of consumer applications, servicing both A-level consumer brands and retailers. Codi Group is the new name of three leading companies in wet wipes in Europe: Codi International, Incare and Sweeps. Codi International and Incare share over 60 years of experience as leading manufacturers in the industry and take pride in being reliable partners servicing both first-class FMCG brands (e.g., Beiersdorf and Rituals) as well as retailers (e.g., Ahold Delhaize, Hema and Kruidvat) and institutional customers across Europe. Sweeps, founded in 2014, is a marketing and sales organisation. Sweeps is a unique wet wipes brand based on natural fibers targeting consumers on-the-go via multiple convenience channels.

    At its production facilities in Veenendaal and Venray (The Netherlands), Codi Group converts nonwovens into various high-end products with flexible and innovative packaging options. Codi has grown fast in recent years, both autonomously and via the bold-on acquisition of Incare in Venray, realising c. €60 million turnover with 180 employees. CEO Erik van Deursen says: “We are very happy to step-up our growth initiatives and realise our ambitious strategy. Over the last years Codi has successfully focused on internal optimisation and broadening our customer base to create a solid platform for future growth. With the investment from ACC out of its new fund, we have ample time and funds to realise our growth targets, both autonomously and via add-on acquisitions”.

    About Active Capital Company: Active Capital Company (ACC) is an Amsterdam based independent hands-on private equity firm. AAC invests in companies that are headquartered in the Netherlands and that are operating in industrial goods and services or (technical) wholesale and manufacturing, and have a revenue between 10 and 80 million euro. ACC invests in companies with a strong core (good customers and products), and companies to which the team can add value through proactive involvement. Active Capital Company is financed and supported by institutional investors and entrepreneurs with a proven track record in similar markets.

    Victor Schols, Investment Director at ACC says: “Codi fits perfectly in the investment focus of ACC and we are happy to support the company in achieving its goal to becoming a top 3 player in Europe. We look forward to working with the team and accelerating the Codi strategy based on three pillars of Sustainability, Consumer Insights and Technological Innovation”.

    The press release can be found here (English) and here (Dutch).

  • Packaging & Paper/Board

    Adviser on the acquisition of AVI Volendam

    Fortaleza Capital acted as exclusive corporate finance adviser on the acquisition of Algemene Verpakkings Industrie (AVI Volendam) by ACE Partners.

    About AVI Volendam: AVI Volendam, founded in 1960, produces and supplies semi-finished flexible packaging products including plastic film for wrapping and packaging machines and end packaging. The company delivers custom-made products ‒ printed and non-printed ‒ according to customer requirements in terms of packaging size, colour, composition and product characteristics. With its flexible production facilities and 40 employees, AVI Volendam produces in four distinct product groups: Tubes, Films, Sheets and Bags. Most products are made from polyethylene (PE), however, production from biodegradable PE is also offered. Product applications include: food (bread, fish, meat, fruit, vegetables), industrial applications, agricultural/horticultural applications, rubble bags, waste bags and chair, furniture and clothing covers. Customers are located in The Netherlands, Belgium and Germany.

    About ACE Partners: ACE Partners is a hands-on investor that offers operational solutions to medium-sized companies that are active in industry, trade, technical service provision or transportation and logistics.

  • Packaging & Paper/Board

    Adviser to the shareholders of SolidPack on the sale of the company to VPK Packaging Group

    Fortaleza Capital acted as exclusive corporate finance adviser to the shareholders of SolidPack on the sale of the company to VPK Packaging Group.

    About SolidPack: SolidPack, founded in 1921, produces solid board packaging with sales spread across segments within the food industry in the Netherlands, Europe and worldwide. Solid board is high quality cardboard with a very compact and flat structure, with a good resistance to humidity and excellent printability. SolidPack has a long-standing track record in the market and an existing investment programme at the company will further increase efficiency over the next few years. SolidPack adds 175 employees, 65,000 tons of packaging and more than €50 million in turnover to VPK.

    About VPK: VPK Packaging Group is a manufacturer of sustainable packaging products with 46 production sites in 16 countries. 4,800 employees are responsible for the production of recycled paper, corrugated board, solid board and tube packaging. Paper is exclusively produced from recycled fibres. All packaging is completely recyclable. In 2016 the group passed the turnover milestone of €1 billion. The head office is located in Aalst, Belgium. With this move VPK will further expand its solid board segment – known under the brand name Smart Packaging Solutions. With 250 employees, Smart Packaging Solutions produces about 85,000 tons of packaging per year with a turnover of €70 million, which is mainly achieved in sectors such as vegetables, meat and chicken.

  • Services, Media & Technology

    Adviser to Xtrasource, a Webhelp Netherlands company, on the acquisition of Contact2Value

    Fortaleza Capital acted as exclusive corporate finance adviser to Xtrasource, a Webhelp Netherlands company, on the acquisition of Contact2Value

    About Xtrasource and Contact2Value: Xtrasource, a subsidiary of Webhelp, is a leading provider of multilingual technical support and customer services to the consumer electronics and connectivity industry. Headquartered in Enschede (The Netherlands), Xtrasource manages customer contact processes for clients across Europe, supporting 20+ languages from its language hubs in The Netherlands and France. Services are provided through a range of tailored solutions, including CRM support, logistics support, bespoke software and multi-channel customer communication.

    Xtrasource acquired the activities – including c. 50 employees and management – of Contact2Value. Based in Hilversum (The Netherlands), Contact2Value specialises in outbound and inbound retention campaigns. The name of the company will disappear and the location in Hilversum will become a full-fledged Xtrasource location. Through this acquisition, Xtrasource adds significant new skills to its service package, and is even better positioned to serve both local and international customers.

    Thomas Blankvoort, General Manager of Webhelp in The Netherlands, said:“This has been a phenomenal 12 months for Webhelp. We received a huge boost in February with the announcement that international investment firm KKR was to become our major shareholder. With their support and belief in us, we have been able to make this new acquisition, which will greatly strengthen our position in the Dutch market.”

    About Webhelp: Webhelp is a global business process outsourcer (BPO), specialising in customer experience and payment management in addition to sales and marketing services across voice, social and digital channels. From 26 countries with a 35,000-strong team, Webhelp focuses on engineering performance improvements and delivering a real and lasting transformation in its clients’ operating models to generate financial advantage. Webhelp partners with some of the world’s most progressive brands including KPN, Vodafone, Michael Kors and Valentino. Headquartered in Paris, France, the company has grown its revenues by more than 250% in the last 4 years. Webhelp is owned by its management and KKR.

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