12.04.2023

Sarens family regains 100%

The Sarens family has regained 100 percent of the equity in its heavy lift and transport business.

Earlier this month the family agreed to purchase the 22 percent stake in the business that was owned by Belgian entrepreneur Luc Tack through his Begoos water treatment division. He acquired the holding in September 2021 from Waterland Private Equity Investments in a competitive bidding process. The Begoos seat on the Sarens board has also been removed as part of the deal. No details of the transaction have been disclosed.

Chief executive Wim Sarens said: “We would like to thank the Tack family for the cooperation and added value over the past two years. With all shares in the hands of the family, we are now armed to profile ourselves even more strongly in the future as the global reference in crane rental, heavy lifting, and engineered transport.”

Luc Tack added: “Due to our complementary experience in operating global companies, we were an ideal partner to take over the interest of Waterland in 2021. We are, therefore, pleased that over the past two years we have been able to help the Sarens family to regain full control of their company.”

In a further statement Sarens said: “This event is of historic significance for Sarens, which is proud to demonstrate through this development its robust standing in the global heavy lifting arena, especially as the said change occurs in a time when key contributors in the sector are experiencing an opposite evolution - looking for new shareholders and moving away from the stable long term shareholding they have enjoyed in the past.”