News
PRESS RELEASE
Hendrik Veder, RopeQuip, and European Rope Services to form Europe’s leading group in wire rope, lifting and mooring equipment
Rotterdam/Moordrecht/Moerdijk, 22 December 2011 – European Rope Services will join Hendrik Veder and RopeQuip to jointly become the leading European group in lifting, towing, and rigging ropes & equipment for the offshore and onshore industries. The group will have full coverage in the region with headquarters in The Netherlands and own subsidiaries in England, Scotland, Scandinavia, Germany, France and Poland. The three companies will be placed under one holding company with majority shareholder Active Capital Company, the independent hands-on investment firm. Management has invested alongside with Active Capital Company.
The three companies will continue to focus on its respective segments and geographies and will maintain their own brand names in the market. For each of the three companies customer focus will continue to be the highest priority. Moreover, customers will benefit from the more extensive sales support and distribution network and the wider expertise within the group in various fields, such as cable laid slings, grommets and special applications. Internally the companies will collaborate mainly in the areas of procurement, logistics, production, engineering, certification, and support services such as IT and Finance. For employees, the growth of the group as a whole will provide interesting opportunities too.
Active Capital Company acquired a majority stake in Hendrik Veder and RopeQuip just two months ago. This add-on investment in European Rope Services supports the growth plans of the Hendrik Veder group to become the market leader in wire rope and lifting equipment in Europe. The group plans to grow the business within three years from a current mere EUR50M to over EUR75M. This will be achieved through geographical and product- and service expansion including additional acquisitions/partnerships. This transaction fits Active Capital Company’s profile to invest in companies with a strong core in growing markets.
Hans Struijk, Commercial Director of European Rope Services, stated: “European Rope Services is delighted to partner with Hendrik Veder and RopeQuip, both having a very strong reputation in offshore and onshore industries. Their expertise is complementary to ours and will bring greater opportunities, both operational as well as strategic, as we continue to grow as a group.
Pieter de Ridder, Managing Director of Hendrik Veder, said: “Through this acquisition we immediately strengthen our position as a group in the Nordics, UK and the Caspian Sea region.”
Hans Hubregtse, Managing Director of RopeQuip, mentions: “RopeQuip’s position as a value-add sourcing and distribution company will be strengthened through this acquisition. We will get access to valuable special cable suppliers and be able to further strengthen our ties with current suppliers.”
René van der Velden en Dick Zeldenthuis, Managing Directors of Active Capital Company, stated: “With an entrepreneurial, passionate, results-oriented team and leading market position in special cable applications in adjacent regions, European Rope Services is an attractive addition to the group. Together with management, we will continue to develop the business and pursue growth opportunities.”
About European Rope Services
European Rope Services is a leading player in distributing, confectioning and testing of wire ropes and lifting equipment for both offshore and onshore customers since 1997. It has one of Europe’s largest testing facilities with a maximum certified pulling/pushing capacity of 1625t with a tolerance of 0,5% only. Total facilities cover an area of 34.000m2. Besides its headquarters in The Netherlands it has own subsidiaries in Denmark, Germany and France with local market expertise. Through the acquisition of Leenman it gained access to a sourcing expertise of special cable with over 30 years of experience. As a supplier & manufacturer of steel wire rope and related products, it is capable to test and certify these products under all major class institutions such as Lloyd’s Register of Shipping, RINA, ABS, DNV, BV, Germanischer Lloyd’s and many others.
About Hendrik Veder
Hendrik Veder with its 50 employees is a leading European player in lifting, towing, and rigging ropes & equipment for the offshore, towing & salvage, shipbuilding and ship owners industry. Over the last 200 years Hendrik Veder has build up a reputation in customized solutions with focus on quality and safety. The company is certified by all relevant institutions like EKH, VCA, AWRF (Associated Wire Rope Fabricators), RvA (Dutch Council for Accreditation), LRQA. Its quality management system has been approved by Lloyd’s Register Quality Assurance and meets all requirements of the standard ISO 9001: 2008. Besides own engineering and production in the port of Rotterdam, Hendrik Veder’s technical specialists inspect, test, certify and maintain installations on side. Hendrik Veder increases uptime and hence earning capacity of its clients through its high flexibility and speed.
About RopeQuip
RopeQuip is a leading European wholesaler of steel wire rope for industrial, marine, offshore, automotive, agricultural, and civil applications. It delivers from stock a broad range of steel wire ropes in Europe through its sales offices and own warehouses in The Netherlands, Scotland, England and through its Eastern-European sales agents. Over the last 20 years RopeQuip has build up a unique reputation as the independent value-add partner. Customers and suppliers confirm the strong technical know-how and problem-solving capability of the team.
About Active Capital Company
Active Capital Company is an independent hands-on investment company with headquarters in Amsterdam, The Netherlands. It invests in industrial goods & services and (technical) wholesale companies with revenues between €5M and €80M with headquarters in the Netherlands. Active Capital aims to acquire stakes in companies with a strong underlying core (customers, products) in growing markets with the possibility for value creation by personal involvement of Active Capital Company management. The company is funded and supported by a small group of entrepreneurs with a proven track record who are active in similar market segments themselves. Its initial fund with four portfolio companies is now fully invested. A second fund is scheduled for Q2 2012.