Mid-market private equity firm, Equistone Partners Europe (Equistone) is to acquire Brussels-based, Amadys, a provider of passive network equipment solutions to utility segments in Belgium and its surrounding countries, from the existing management team and Vectis Private Equity.
The management team, led by CEO Hein Wilderjans, will continue to run the company following the acquisition and retain a sizeable minority share in the business. Financial terms of the transaction, which is expected to complete in early 2020, have not been disclosed 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. They also provide solutions to general industrial businesses.
Equistone will support the company’s organic growth as well as its strategy to expand as a platform for consolidation and inter-nationalisation.
Hubert van Wolfswinkel, Director at Equistone, says: “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, comments: “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.”
