Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has submitted a binding offer to acquire Ammeraal Beltech, one of the global leaders in light-weight process and conveyor belting, from Gamma Holding, a holding company owned by Gilde Buy Out Partners (“Gilde”) and Parcom Capital Management (“Parcom”). The terms of the binding offer have not been disclosed. The relevant works councils of Ammeraal Beltech and other employee representative bodies will be consulted prior to formal agreement. Completion of the transaction is subject only to merger clearance and other customary conditions.
Headquartered in the Netherlands, Ammeraal Beltech manufactures, distributes and services conveyor belts for a diverse range of applications in light industries, including food processing, automotive, logistics and textiles. The company provides products to more than 25,000 customers in over 150 countries through its nine production plants and over 80 service centres.
Since its formation in 1950, Ammeraal Beltech has been at the forefront of manufacturing innovative belting solutions. Through its purpose built R&D centres, the company develops and launches new materials, products, accessories, profiles and tools and consequently has the largest portfolio of belting products worldwide and is renowned for its high quality, performance and customer service.
Last year, Ammeraal Beltech generated a turnover of EUR 325 million, a significant proportion of which was derived from the maintenance, replacement and upgrade cycle of process and conveyor belting.
Jan Janshen, Managing Partner, Advent International, said: “We are delighted to partner with Ammeraal Beltech as it enters the next phase of its development. Advent’s expertise and global network will help the business accelerate its already growing international presence, particularly in China and the Americas, while maintaining investment in product development, ensuring customer satisfaction and product quality continues to improve.”
Michael Vogel, Chief Executive Officer, Ammeraal Beltech, added: “Advent’s investment marks an important milestone in Ammeraal Beltech’s history. Their experience and knowledge of the industrial sector, coupled with their international footprint and hands on approach to value creation will be of great benefit to the company as we continue to consolidate and build our competitive position.”
Jan Albers, Chief Executive Officer, Gamma Holding added: “Under the stewardship of Gilde and Parcom, Ammeraal Beltech has been able to implement a strategic agenda positioning it for strong growth in the years to come. Under the wings of this strong new owner, Ammeraal Beltech will be optimally positioned to capitalise on its full potential. We wish Ammeraal Beltech, its management and employees and Advent all the very best for the future.”