18.06.2008

Theyskens takes 100% of Arcomet

The minority shareholders in Arcomet the Belgian based tower crane rental company, have sold their shares to Arcomet chief executive Dirk Theyskens and his management team, giving them 100 percent of the equity.

Ackermans & van Haaren, GIMV, Sofinim and NPM Capital held 40 percent of the company between them and expressed their interest in exiting the tower company around a year ago.

Initially it looked as though Theyskens was unable to buy the shares, which raised the possibility of a sale of the company. However investment fund LFPI and Sofina have stepped in and helped fund the purchase of the shares.
See Arcomet share sale?
The outsiders bought into the company in 2000 with a capital injection to fund its international expansion, which has taken revenues from €53 million to €120 million in 2007 while Earnings Before Interest, Tax, Depreciation and Amortization have grown from €12.5 million to €33 million.

No details of the transaction have been released apart from the fact that Ackermans & van Haaren will book a capital gain of €5.4 million on the transaction.