Brand Industrial Services, known as BrandSafway, is to acquire Venko Groep BV, a portfolio company of Mentha Capital. Venko will become a part of the Brand Energy & Infrastructure Services (Brand) group.
“We are very pleased to announce the agreement with Venko,” says Bill Hayes, President and CEO of BrandSafway. “Our combined customers in Europe will benefit from a broader range of solutions and greater depth of expertise in access, insulation and coatings. Bringing Venko’s highly specialised knowledge in coatings to BrandSafway will provide the expertise we need to expand our services in the offshore market worldwide.”
Based in the Netherlands, with a focus on operations in the North Sea area, Venko is a leading offshore and onshore coatings maintenance provider in Europe. Founded in 1975, Venko has its headquarters in Hoogeveen, with branch locations in Arnhem, Den Helder and Ridderkerk in the Netherlands, and Great Yarmouth and Aberdeen in the United Kingdom. Employing up to 500 people in peak season, Venko specialises in the maintenance of coatings on steel structures – from offshore applications to civil projects and bridges.
“This is a perfect fit for both Brand and Venko,” says Mick Herke, Vice President of Brand Energy & Infrastructure Services in Europe. “Venko has a highly experienced team with a great depth of knowledge in industrial coatings, which will complement the expertise that Brand has in access and insulation. We have worked together as partners on industrial jobs for several years and look forward to being on the same team.”
The transaction is expected to close in the fourth quarter of 2017.
