Mar 17, 2023

IK Partners invests in Veldeman 16 March, 2023 IK Partners (“IK”), a leading European private equity firm, has reached an agreement with the IK Small Cap III Fund to invest in Veldeman Group, the Belgian producer of temporary infrastructure. IK will thereby acquire the shares of the existing management team and a group of individual investors. The management will reinvest with IK. Financial details of the transaction were not disclosed. Veldeman, headquartered in Bree, Belgium, was founded in 1950 and has grown from a traditional tent manufacturer to a specialist in modular, demountable infrastructure and related customer services. Together, the current management team has 120 years of experience in the industry. The company offers customised solutions, in rental and sales, for various markets, including industry, retail and the high-end event sector. Veldeman is known for its innovative strength and turnkey solutions, with a wide range of ancillary services such as electricity, climate control, ventilation and decoration. Veldeman differentiates itself from its main competitors through its high level of customisation and extensive range of products and services. Veldeman has 80 full-time employees, complemented by an extensive network of subcontractors, and serves customers in more than 60 countries from its offices in Belgium, the US and Chile. Production is done in-house at the headquarters to ensure the highest quality control, responsiveness and innovativeness, all under the supervision of the engineering team. The company is led by CEO Andy Moors, who has been on board since 2005. Under the existing management team, Veldeman has grown strongly in recent years. With IK’s support, the company hopes to further improve digitalisation and operational efficiency, expand into related niche markets, increase the number of value-added services to become a total partner in rental and implement a focused M&A strategy to accelerate rental growth through internationalisation. Andy Moors, CEO of Veldeman: “We are very pleased with the partnership between Veldeman and IK Partners as we believe they will help us realise our ambitions thanks to their extensive experience in the industrial sector and excellent track record in international expansion through buy & build. We are confident that together we can further develop the company and our offering to provide the very best service to our wide and loyal customer base. We look forward to working with the team at IK and together creating a dynamic and exciting environment for our employees.” Frances Houweling, Partner at IK Partners and Advisor to the IK Small Cap III Fund: “Veldeman is a leading provider of high-quality temporary structures with ample opportunities for international growth. The fragmented nature of the market offers significant buy-and-build potential, allowing the company to both further develop its offering and expand into related markets and regions. We are impressed by the company’s path to date and look forward to working with Andy and the Veldeman team to create significant value.” About Veldeman Veldeman, headquartered in Bree, Belgium , was founded in 1950 and further developed from 1970 by Georges Veldeman as a tent rental company. Today, Veldeman is a leading supplier of temporary infrastructure and related services in rental and sales for various sectors. Veldeman has 80 full-time employees spread across three offices in Europe and America, and serves customers in more than 60 countries worldwide.