Equistone acquires Dutch BOAL Group
Munich — Funds advised by Equistone Partners Europe(“Equistone”) have acquired a majority stake in BOAL Group. The Dutch company develops and produces high-quality aluminum roof and side wall systems for glass and foil greenhouses. The sellers are the managing director Ronald Boers and the founder tE, both of whom will continue to hold minority shares. BOAL’s management team will also participate in the company. The parties have agreed not to disclose the purchase price. The acquisition is still subject to approval by the relevant antitrust authorities.
BOAL Group, headquartered in Naaldwijk, the Netherlands, has 48 years of experience in the design and manufacture of aluminum roof and sidewall systems for greenhouses. This makes the Group one of the leading suppliers in the market. In addition, BOAL supplies the construction, mechanical engineering and transport industries with extruded aluminum profiles. The manufacture of the high-quality products is based on many years of experience, technical expertise and innovative strength. Production takes place at the company’s three Dutch sites ’s‑Gravenzande, Maasdijk and De Lier, as well as in Shepshed in the UK. BOAL currently employs approximately 370 people and generated sales of around 155 million euros in 2017.
Together with Equistone, BOAL aims to further strengthen its market-leading position in the greenhouse industry. The focus is on continuous product innovation, geographic growth and expanding the position in the market for roof systems for film greenhouses. Proven partnerships with existing customers for greenhouse systems as well as aluminum profiles remain unaffected and are to be continued.
Ronald Boers, Managing Director of BOAL Group, comments: “The greenhouse industry is growing rapidly and BOAL Group will benefit enormously from this development. Equistone is the ideal partner for our ambitions — together we will continue to drive our growth plans. In doing so, we build on long-term strategic partnerships with our customers as well as many years of experience and expertise in the extrusion of high-quality aluminum profiles for the greenhouse industry and other markets.”
On the Equistone side, Dr. Marc Arens (photo), Roman Emanuel Hegglin and Moritz Treude are responsible for the transaction.
The mid-market investor was advised by h&z (Commercial), Deloitte (Financial), Allen & Overy (Legal), PwC (Tax), ERM (Environmental), GCA Altium (Dept Advisory), Shearman & Sterling and Stek Advocaten (Financing, Legal). BOAL Group was advised by William Blair (M&A), Roland Berger (Commercial), Deloitte (Financial/ Tax), Houthoff (Legal), Tauw (Environmental), Oaklins (Financial), Van Doorne (Legal) and Yeald (Management). The transaction is expected to close in April 2018.