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European industrial conglomerate
Addum was, at acquisition, an industry conglomerate consisting of many separate businesses including construction equipment rental (Cramo), pre-cast concrete manufacturing and the production of piston rings.
Addum was acquired by IK in March 1996, via the IK 1994 Fund, from Securum. This was followed by a number of partial exits through divestitures or IPOs of several subsidiaries. IK’s final exit was completed in May 2000 through the sale of Cramo to Geveke.
Our Value Creation Strategy
During our ownership, we worked alongside the management team to:
- Focus on two of the larger companies to develop their core business activities;
- Prepare a number of smaller businesses for sale and divestment; and
- Restructure and optimise remaining construction equipment rental business.