Quva NV (“Quva”), the private investment vehicle of the Pascal Vanhalst family, has reached an agreement for the proposed acquisition of a majority stake in ConDoor Door Solutions (“ConDoor”), a leading producer of insulated overhead doors. Founders Kees-Jan Honing and Jaap Kwant will stay on as minority shareholders.
Jan Nelissen, Quva: “Quva is delighted with the opportunity given to invest in ConDoor and is committed to support the growth and ambitious goals of this organization. We are looking forward to collaborate with the founders and all ConDoor colleagues.”
Kees-Jan Honig, ConDoor: “We are excited to welcome Quva as ConDoor’s new partner. In Quva, we have found a long-term shareholder which guarantees the independence of ConDoor and commits to further invest in the future of the company. We would like to thank Parcom and Synergia for the pleasant partnership the past years which was characterized by the right balance of support where necessary and entrepreneurial freedom.”
Kimon Baloumis and Leo Schenk, Parcom and Synergia: “We saw a unique investment opportunity in ConDoor to accelerate its organic growth and further develop the company into a leading European player. Over the past years, significant investments have been made in new product development and additional production capacity, that have laid a solid foundation for further growth. We are confident that ConDoor will continue its impressive growth path under Quva’s long-term ownership.”
The transaction is subject to customary regulatory approvals.
ConDoor Door Solutions is leading European manufacturer of insulated overhead doors for commercial and residential premises. Divided across three production facilities in the Netherlands and Hungary, approximately 450 people work daily on the development and production of sustainable custom made doors. An extensive network of independent dealers deliver quality doors to companies and homeowners in 25 European countries. ConDoor is expected to realize revenues of €150 million this year.
More information: www.condoor.com
Quva (www.quva.com) is the recently founded and private investment firm from the Pascal Vanhalst family. Other investments are Mateco (www.mateco.eu), Suspa (www.suspa.com), Abriso-Jiffy (www.abrisoJiffy.com) and a 50% stake in the TVH Equipment (www.tvhequipment.com).
More information: www.quva.com