Industri Kapital acquires the Dutch company Welzorg
Industri Kapital is pleased to announce that the Industri Kapital 2000 Fund has signed an agreement to acquire the entire outstanding share capital of Welzorg Holding N.V. from UBS Capital.
Industri Kapital’s intention is to further develop Welzorg as a leading distributor of mobility aids.
“Welzorg is an attractive and profitable growth company. There is strong potential for the company to further develop its product and service offerings as well as to expand geographically. We look forward to implementing future growth strategies, working together with Welzorg’s experienced management”, says Gustav Öhman, Director of Industri Kapital.
“The market for mobility aids for disabled and elderly people is in many respects unusual and significant differences exist between the various countries in Europe. We have been impressed by the manner and speed in which IK has managed to gain a deep understanding of our company, our markets and our vision for the future of Welzorg. This gives us great confidence in the future of the company”, says Frank Bangma, CEO of Welzorg.
The transaction, which is expected to be finalised before year-end 2002, is subject to certain conditions, inter alia relevant regulatory approvals.
Welzorg is the Dutch market leader in the rental, distribution and maintenance of mobility aids (e.g. wheelchairs, scooters). The company has a network of 43 sales outlets throughout the Netherlands. Welzorg, which is headquartered in Amsterdam, forecasts sales of approximately €143 million in 2002 and has approximately 800 employees.
For more information please contact:
Gustav Öhman, Director, Industri Kapital, + 44 20 7304 4300
Frank Bangma, CEO, Welzorg, + 31 20 58 40 100
About Industri Kapital
Industri Kapital currently has a portfolio of 25 companies with a total turnover exceeding EUR 11 billion.
Industri Kapital’s previous investments in the Benelux include Fortex (supplier of textile rental and industrial laundry, Netherlands), Continental Bakeries (pan-European biscuits group, Netherlands), Oriflame (cosmetics company, Belgium), Pieters (fish processor, Belgium) and Amas (specialised forwarder, Netherlands).