26.04.2012

Reesink buys Kemp

Appeldoorn based distribution company Koninklijke Reesink has agreed the acquisition of fellow Dutch based equipment distributor the Kemp group.

The agreement, which is subject to normal closing conditions and completion, will see Reesink acquire all of Kemps outstanding shares.

The Kemp group is a major excavator distributor and is made up of several companies, including the aerial lift business Kemp Hoogwerkers, Barend Kemp, Kemp, Huur&Stuur and Vacu-Rent, collectively they had revenues last year of over €28 million and employed 48 across three sites in De Meern (Utrecht), Bergschenhoek,(Rotterdam) and Hamme (Belgium).

Kemp Hoogwerkers represents Maeda mini cranes, IHImer spider lifts, Nagano self-propelled boom platforms and Iteco scissors and booms for both the Netherlands and Belgium.
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Kemp Hoogwerkers De Meern

Reesink’s chief executive Gerrit van der Scheer said: “As we have noted on various occasions, we see earth-moving as an attractive related market for the green segment. The acquisition of Kemp Group, a specialist in civil and hydraulic engineering, represents an important step for us in this market. It enables us to offer a total package of plant and equipment with the right support. We see excellent synergy potential on the sales side. Companies that are active in agriculture and horticulture and landscape maintenance frequently use earth-moving equipment, and vice versa.”

Kemp’s majority shareholder Ben Kemp, who will continue to manage the business for at least five years, added: ”With this transaction we are joining an ambitious group with an excellent reputation which will further strengthen our market position. As a supplier of a full range of plant and equipment in the Netherlands and Belgium, we will be one of the major players in the civil and hydraulic engineering market. We also expect the takeover to have a positive effect for our employees, customers, suppliers and the family. As the Managing Director of Kemp Group, I look forward to exploiting the opportunities in the market to the full in the coming years.”
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Kemp's facility in De Meern

Reesink is a public company with two divisions, horticultural and agricultural equipment distribution and industrial division which largely consists of steel stockholding and distribution, it had revenues last year of €173 million.

The company has a strategy to roll out some of Kemp’s businesses, such as its earthmoving rental business Huur&Stuur, to more regions in the Netherlands and Belgium.

The acquisition will be funded mainly through additional bank finance with a bridging facility. A smaller part of the price will be paid in depositary certificates of (ordinary) shares in Reesink.