Parcom Capital (“Parcom”) and the management team today announced their intention to acquire STAR Group BV (“STAR”) from its current shareholders, De Hoge Dennen and Atlas Invest. STAR is a leading high-end professional service provider in the oil, gas and power related industries, including the (petro) chemical, midstream and marine & offshore industries. The transaction is subject to the customary merger approvals and is envisaged to close in 2011.
STAR, founded in 2001 by CEO François Claeijs, deploys highly educated technical professionals in the areas of engineering, project management, construction management, safety management and shutdown & maintenance management. As a result of its committed approach, STAR attracts numerous projects and maintains a unique network of the best available specialists. Currently STAR deploys over 800 specialists on its project at leading companies in the industry. The company, headquartered in Moerdijk, is currently active in the Netherlands and Belgium. The fast growing company reported total revenues of approximately € 80 million in 2010.
STAR sees ample opportunities to expand its activities in the coming years on the back of its proven business model and scalable organization. STAR expects to achieve growth in its domestic and international markets supported by a favourable long term market outlook.
François Claeijs comments: “We are happy to have Parcom on board as strong shareholder and strategic partner. Their backup, with value-added sector expertise, will enable us to accelerate our growth ambitions and strengthen our international presence.”
Anouar Noudari, Partner of Parcom, is pleased that STAR has become part of Parcom’s investment portfolio: “STAR is a clear niche market leader, with an exceptional performance track record as technical project support specialist. We look forward to support STAR in realizing future growth, building upon the company’s sterling reputation in the oil, gas and power industries.”
About STAR
STAR is a professional service provider within Oil, Gas and Power related industries and thé specialist for project support and staffing in engineering, project management, construction management and shutdown and maintenance management. With a clear focus on the market, healthy ambition and proven quality, STAR is a worthy partner for both clients and professionals.
STAR specialists are employed daily, both onshore and offshore, for projects at clients all over the world, including major national and international operating plant owners, engineering companies and contractors.
For more information: www.starpowerpeople.com.
For more information:
Bas Lissenberg (COO)
Telephone: +31 (0)168 38 50 38
Email: b.lissenberg@starpowerpeople.com
About Parcom Capital
Parcom Capital is a pan-European investment firm that focuses on helping management teams realizing their growth ambitions. Established in 1982 and supported by over EUR 1.6 billion of capital, Parcom has been a successful investment firm for more than 25 years. With offices in Amsterdam, Paris and Munich, Parcom has been able to invest in over 250 European companies. For more information: www.parcomcapital.com.