In March 2023, IK Partners invested in Veldeman Group, a Belgian designer and producer of temporary infrastructures which it rents out and sells to a broad range of industries globally. Veldeman’s management reinvested significantly in the transaction. Veldeman has approximately 80 full-time employees complemented by an extensive network of subcontractors who serve customers in 60 locations out of its sites in Belgium, the USA and Chile. However, production takes place at the Company’s headquarters to ensure the highest level of quality control, increased reactivity and the ability to develop innovative solutions; all of which are overseen by the engineering team. The Company is led by CEO Andy Moors who has been with the company since 2005. Under the existing management team, Veldeman has gone from strength-to-strength and with the support of IK, it hopes to further improve digitalisation and operational efficiencies; expand into adjacent niches; increase the number of value-added services to become a comprehensive rental provider; and execute a targeted M&A strategy to accelerate growth in the rental offering through internationalisation.
Kumulus Partners acted as the exclusive financial adviser to Veldeman Group, its management and other shareholders. Kumulus Partners organised an auction, solely geared towards financial investors. This resulted in the investment in IK in Veldeman. Kumulus managed the entire sale process, managed the due diligence process and negotiated terms on the sale and reinvestment.
