Equistone erwirbt Amadys

Equistone to acquire Amadys

15 Nov 2019

Equistone Partners Europe (“Equistone”), one of Europe’s leading mid-market private equity firms, has agreed to acquire Amadys NV (“Amadys” or “the company”), headquartered in Brussels. Amadys is a leading provider of passive network equipment solutions to all utility segments in Belgium and surrounding countries. Equistone acquires the company from the management and the investment fund Vectis Private Equity. The existing management team, led by CEO Hein Wilderjans, will continue to run the company following the acquisition. The management team will reinvest and will retain a sizable minority share in the company. The transaction is expected to complete in early 2020. The financial terms of the transaction are undisclosed and the acquisition remains subject to clearance from the relevant competition authorities.

Amadys, through its various operating companies, provides passive network equipment solutions to all utility networks, including fixed and mobile telecom networks and water, gas and electricity grids, as well as to general industrial businesses. The company provides a broad range of products and services, ranging from fibre optic cabling and related products, to ducts, closures and covers, often in customised and unique specifications and combinations. Amadys has important distribution relationships with many of the leading OEMs in its field and is considered a highly valued partner to them. In addition, the company has longstanding relationships with its key customers, which comprise the leading utility players in the Belgian and wider Benelux market, as well as many industrial businesses. Amadys provides them with a one-stop-shop solution in its product categories, complemented with deep and specific technical expertise. Amadys employs over 100 people in Belgium and the Netherlands and generated revenues of more than €130 million in 2018.

Following the transaction, Equistone will support the company’s continued organic growth as well as its strategy to further expand as a platform for consolidation and internationalization.

Hubert van Wolfswinkel, Director at Equistone, said: “We are very impressed by Amadys’ strong market position, earned by providing an exceptional level of expertise and service to its customers and OEMs. The company is well-positioned for further growth and to strengthen its presence in Belgium as well as in neighbouring countries. In partnership with Amadys’ excellent management and employees, we look forward to supporting the company’s continued growth trajectory.”

Hein Wilderjans, CEO at Amadys, commented: “We are delighted to have Equistone as a reliable and financially strong new partner. Having them on board will enable us to make the next step in the development of our company and to become an even better partner to our customers and OEM relations.”

Hubert van Wolfswinkel, Marc Arens and Tanja Berg led the transaction on behalf of Equistone. Equistone was advised by Allen & Overy (Legal), PwC (Commercial), Ernst & Young (Financial & Tax), Shearman & Sterling (Legal financing) and Rothschild (Financing).

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