24.10.2006

SHV take 75% of Mammoet

SHV, the Netherlands-based investment company of the Fentener van Vlissingen family, has increased its shareholding in crane and heavy transport company, Mammoet, from 24.5 percent too 75 percent. The Van Seumeren family will retain a 25 percent stake and Roderik van Seumeren will continue as CEO.

SHV has owned its stake since acquiring it through NPM a private equity business that it controls. It has now purchased a 24.5 percent stake owned by ABN Amro Prospecties and a further 26 percent holding from the Van Seumeren family. The deal is reportedly worth €60 million.
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Mammoet has specialised in the largest cranes and lifting equipment

Mammoet has revenues in the region of €400 million and employs around 2,000. SHV is a €15 billion conglomerate that owns a wide range of businesses. The company was founded from a merger of a number of Dutch coal companies many years ago. It is not new to cranes and lift equipment having owned the Geveke group, the Grove and CAT distributor in the 70’s and 80’s.

The Van Seumerens acquired their stake in Mammoet in 1999 and merged their own crane business into the larger company, taking on the Mammoet name.