By 2019, further growth required its domestic success to translate into international success. And for that, Amadys needed a new partner.
For Equistone partner Hubert van Wolfswinkel, it was immediately clear that this was a good match. “The management team had a strong shared vision and intended to remain substantial shareholders, but they were looking for an investor to help them internationalise,” he says. “What the company required for its growth was something that Equistone was uniquely well positioned to help realise. Supported by the fact that we as local team – with Tanja Berg and Marc Arens in Germany, and myself in the Netherlands – covered two of their priority target markets.”
The big question was whether what had worked so well in Belgium could be repeated outside of Belgium. And the answer has been growth as rapid as a high-speed fibre network.
When Equistone invested in Amadys in 2019, revenues were €128m. Today, Amadys revenues are over €400m. This tripling of revenues has come through a combination of strong organic growth and an active acquisitions programme.