Equistone acquires majority in BUKO Infrasupport and BUKO Waakt
Amsterdam / Munich — Funds advised by Equistone Partners Europe (“Equistone”) are acquiring a majority stake in BUKO Infrasupport and BUKO Waakt (“BUKO”), two leading providers of outsourced traffic and security management solutions in the Netherlands. Equistone will work with current shareholder Scheybeeck Participaties, the Burger family’s family office, as well as the extended management team that will take a reverse stake in the company as part of the transaction.
It was important for Scheybeeck Participaties to find a highly experienced partner who could support the companies’ growth ambitions with strong financial backing and a large international network. BUKO CEO Robert Emmerich will continue to lead both companies as Managing Director. The partnership with Equistone will focus primarily on further expanding the market presence in the Netherlands as well as targeted expansion into neighboring countries, supported by strong market dynamics. The parties have agreed not to disclose details of the transaction, which is still subject to approval by the relevant competition authorities.
BUKO was founded in 1962 in the Netherlands and consists of three business units: BUKO Infrasupport, BUKO Transport and BUKO Waakt. BUKO Transport is not part of this transaction. BUKO Infrasupport specializes in offering end-to-end outsourcing solutions in temporary traffic management. With its comprehensive portfolio of services — from the design, planning, permitting, provision and collection, as well as the management of required road signage and safety equipment for on-site road works — Infrasupport particularly serves contractors and authorities involved in utility-related, urban and rural road works. BUKO Waakt is a provider of temporary security solutions with a focus on camera surveillance, intrusion detection systems as well as access control systems, which are used especially on construction sites of residential and public buildings.
The two business units BUKO Infrasupport and BUKO Waakt combine strong expertise with a customer- and result-oriented approach, high-quality equipment and a conviction for the highest safety standards. In this way, the company is making an important contribution to ensuring the prescribed safety measures around road and construction projects and to meeting the increasing safety regulations in the best possible way. With several thousand projects completed each year and its firmly established long-standing and trusting customer relationships, the company is considered one of the largest providers of customized traffic and security solutions in the Netherlands. It currently employs more than 350 people and generates annual sales of around 70 million euros.
The partnership with Equistone is expected to further drive the company’s continued growth and development. The main focus here is on making optimum use of the strong market momentum, primarily driven by further investments in infrastructure associated with digitization and the energy transition, as well as in road maintenance, and on increasing the company’s geographical presence.
“I am very pleased to partner with Equistone, especially due to their industry expertise gained in their numerous investments in relevant portfolio companies, their presence in the relevant regions, and their partner-like and exceptionally strong team. I look forward to taking the growth of our company to the next level while maintaining our family culture,” said Robert Emmerich, CEO of BUKO Infrasupport and BUKO Waakt.
“BUKO is already excellently positioned — Equistone wants to take advantage of this in a targeted manner and support BUKO in further strengthening its service offering as well as its market position in the Netherlands through organic growth,” explains Hubert van Wolfswinkel, Partner in Equistone’s Amsterdam office. “In addition, Equistone will focus on increasing the market penetration of certain regions in the Netherlands and will also explore the possibility of expanding into neighboring countries through strategic acquisitions,” added Tanja Berg, investment director at Equistone.
The transaction was accompanied by Hubert van Wolfswinkel, Tanja Berg (photo) and Josh Aalbers.
PwC (Financial, Tax, IT, and Debt Advisory), DC Advisory (M&A), Roland Berger and Munich Strategy (Commercial), Vesper and Clifford Chance (Legal).
Lincoln International (M&A), Deloitte (financial, tax advisory), Strategy& (commercial) and De Brauw Blackstone Westbroek (legal).
About Equistone Partners Europe
Equistone Partners Europe is one of the most active European equity investors with a team of more than 40 investment specialists in seven offices in the Netherlands, Germany, Switzerland, France and the UK. The Equistone funds invest primarily in established medium-sized companies with a good market position, above-average growth potential and an enterprise value of between EUR 50 and 500 million. Since inception, equity has been invested in more than 170 transactions. The portfolio currently comprises around 50 companies across Europe, including around six active investments in Benelux. Equistone is currently investing from its sixth fund, which closed in March 2018 with €2.8 billion. In addition, the “Equistone Reinvestment Fund” was recently launched, from which it is possible to reinvest in minority positions following sales of portfolio companies from the main funds. www.equistonepe.com