NoorderHuys acquires interest in Landré

Joure, October 2007 - NoorderHuys Participaties, together with the management, acquires all the shares of the Landré company. With its turnover of approximately € 30 million in the Netherlands, Belgium and Luxembourg, the company is the largest independent supplier of machines in the area of machining, sheet tooling and the processing of plastic materials. Landré is located in Vianen and has 85 employees. For Landré, which was established nearly 150 years ago, the Management buy-out is a new step, since the company was taken off the stock exchange in 1999. Noorderhuys’ majority participation enables Landré to carry out a growth strategy. The company has the ambition to further strengthen its position in the Benelux countries in the coming years and to broaden out, initially by means of autonomous growth, but possibly also through acquisitions.

“For us Landré is a special participation”, says John Ritchi, managing director of NoorderHuys Participaties. “It is our first participation since we set up our fund six months ago. With Landré we are acquiring a solid but growing company under ambitious management, a combination that gives us great confidence for the future. In respect of the immediate future he says: “we are not at all affected by the current vicissitudes on the financial markets. On the Dutch middle market, which is where we operate, there are many companies that want to realise their objectives with the help of private equity. That is why our feeling with regard to realising new participations is positive.”

“The arrival of NoorderHuys Participaties as shareholder has created a new focus on rolling out our strategy”, says Jan Floor van Egmond, Landré´s managing director. “It is our Challenge to reduce further the dependency of the economic tides. This can be achieved by placing even more emphasis on service and maintenance and to strive for broadening the product palette.” “For us personally the buy-out is the realisation of a personal ambition”, says co-manager Frank de Beijer. With regard to the participation process he says: “Our decision to choose NoorderHuys Participaties was mainly taken on the basis of their professional and down-to-earth approach. Further to that, our ideas on business strategies and company culture fit very well.”