IK Investment Partners’ (IK) IK Small Cap II Fund has completed its first transaction in the Benelux by acquiring 2Connect, a leading manufacturer of specialised cables and connectors, from the van der Put family.
Financial terms of the transaction, which sees the firm’s founder reinvest alongside the fund, have not been disclosed.
2Connect designs, develops and produces tailored interconnection solutions for OEM and ODM customers worldwide. The product portfolio includes specialised designed cables, moulded connectors, electronic packaging and interconnection modules. Founded in 2000, the company prides itself on setting new standards for interconnection solutions by designing high quality and cost-effective units in close cooperation with its long-term client base.
The acquisition of 2Connect represents the first Small Cap transaction in the Benelux region, following shortly after the final close of the IK Small Cap II Fund at its hard cap of EUR550 million.
“The market for speciality cables is expected to grow as automation, miniaturisation and digitisation drive increased connectivity. 2Connect’s unique combination of in-house tailored design and low to medium volume manufacturing capabilities puts the company in a strong position to further develop its offering and gain market share. We are delighted to be the preferred partner for the future for Marc and his team,” says Sander van Vreumingen, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund.
“As we enter the next phase of growth, we believe to have found the perfect partner in IK. They share our vision on how to accelerate growth for 2Connect. Together we will strengthen 2Connect’s market position via operational improvements and other initiatives. We believe that this new partnership will deliver significant business value to our clients,” says Marc van der Put, CEO, 2Connect.
This transaction represents the 4th investment by the IK Small Cap II Fund. The other three investments are SCHEMA, a leading developer and provider of software solutions; Bahr Modultechnik, a leading German manufacturer of modular positioning systems, and Carspect, a leading provider of vehicle inspection services in Northern Europe.
