Equistone acquires property protection company Heras
Munich/Amsterdam/Oirschot — Equistone Partners Europe (“Equistone”), one of Europe’s leading equity investors, is acquiring Heras (“Heras”). The seller is the British building materials manufacturer CRH Plc. Heras is a leading provider of property protection solutions headquartered in Oirschot, the Netherlands. The Heras management team has a minority stake. Gilles Rabot, with Heras since 2015, will continue to lead the company. The parties have agreed not to disclose details of the transaction. The sale is still subject to approval by the relevant antitrust authorities.
Heras was founded in 1952 and offers a wide portfolio of mobile and permanent property protection systems and products. It includes fencing systems, manually operated and automatic gates, vehicle barriers and electronic surveillance systems. The company has a strong presence in Europe, with sales offices in the Netherlands, the United Kingdom, Sweden, Norway, Germany and France. Production facilities are located in the Netherlands, Belgium, France, Sweden and the United Kingdom. Heras employs over 1,100 people and has annual sales of over 220 million euros.
Heras’ permanent medium and high-security property protection solutions are used in a wide variety of fields, such as border control and the protection of military installations or critical infrastructure, as well as schools and children’s playgrounds. All Heras solutions can be tailored to specific customer needs. The company also offers a range of additional services, such as installation, system integration, commissioning, and maintenance and repair. Heras mobile property protection solutions are mainly used for securing construction sites and large events. Customers in this area include construction companies, government agencies, event organizers, rental companies, distributors, wholesalers and installation companies.
Following the carve-out from CRH Plc, Heras intends to drive consolidation in a highly fragmented market through targeted acquisitions with its new partner Equistone. Additional organic growth is to be achieved by developing new products and services, establishing further customer relationships and expanding existing networks.
Hubert van Wolfswinkel (photo), Director at Equistone, says: “Heras has impressed us very much. The company owes its leading market position, among other things, to a strong network of production sites in Europe, long-standing customer relationships and experienced management.” Dirk Schekerka, Senior Partner at Equistone, added: “Heras has an excellent team of employees and managers. We now look forward to working with the company as it continues to grow and expand into new markets.”
Gilles Rabot, Managing Director at Heras, says: “With Equistone, we have gained a reliable and financially strong new partner. With Equistone’s support, we intend to maintain our growth trajectory and further expand our market position. We will continue to develop and offer a world-class and innovative range of mobile and permanent property protection solutions to meet the continuously increasing security needs of the market.”
On the Equistone side, Dirk Schekerka, Hubert van Wolfswinkel and Moritz Treude are responsible for the transaction. The investor was advised by Munich Strategy (Commercial), EY (Financial, IT, Operations & Tax), Clifford Chance (Legal), ERM (Environmental, Health & Safety) and Houlihan Lokey (M&A, Financing).
About Equistone Partners Europe
Equistone Partners Europe is one of Europe’s leading equity investors with a team of more than 40 investment specialists in six offices in Germany, Switzerland, the Netherlands, France and the UK. Equistone primarily invests 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 its founding, equity has been invested in more than 140 transactions, mainly mid-market buy-outs. The portfolio currently comprises over 40 companies across Europe, including around 20 active holdings in Germany, Switzerland and the Netherlands. Equistone is currently investing from its sixth fund, which closed in March 2018 with €2.8 billion at the hard cap.
Since 1952 and with its roots in the Netherlands, Heras has evolved from a fencing specialist to a full-service perimeter protection solutions provider operating in six countries. The Group currently employs more than 1,100 highly qualified specialists.
Together, we design, manufacture, install and maintain perimeter protection solutions for business, community and industry.