Funds advised by European mid-market private equity firm Triton Partners have agreed to acquire VolkerWessels Verbindingen en Netwerken (V&N Group), a provider of energy & utility, connectivity and building installation services in the Netherlands and Germany.
V&N Group is indirectly owned by Koninklijke VolkerWessels, the major European construction services business, and controls its energy, telecom and technical installation companies cluster.
The provider employs over 3,100 and offers integrated solutions including feasibility studies, advice, design, installation, realisation and maintenance.
VolkerWessels decided to pursue a sale following a strategic review, which will see the business focusing on construction & real estate development in the Netherlands and Germany and its infrastructure activities in the Netherlands, the UK and North America.
The transaction is expected to be completed in Q3 2024.
In a press statement, Koos van de Linde, an Investment Advisory Professional at Triton, said: “We have been really impressed with the track record of V&N Group and its management team under the stewardship of VolkerWessels, which has been instrumental in helping accelerate the energy transition, digitalisation, and housing needs of the Netherlands.”
Triton Partners was advised by Emendo Capital and Clifford Chance. VolkerWessels was advised by ABN AMRO Corporate Finance, ING Corporate Finance and De Brauw.
Triton Partners was founded in 1997 and has previously invested in and supported companies in the Netherlands such as technical services provider Unica.
