Increased focus on growth via acquisitions and international expansion
Herentals/Ghent, 25 September 2024 – Investment company NPM Capital has agreed to acquire a significant minority interest in the Belgian family-owned company Jeco Energies, a leading industrial energy solutions provider in the Benelux. The participation of NPM Capital will accelerate the growth of Jeco Energies in the coming years through an increased focus on strategic acquisitions and international expansion. NPM Capital will contribute the required experience, expertise and capital in that area.
Jeco Energies is a leading player in the area of temporary as well as permanent solutions for industrial electrical power infrastructure. It rents hardware, including transformer containers built in-house, helping businesses to prevent unforeseen power outages or providing a temporary power solution until a permanent connection to the grid is established. The company also focuses on realising end-to-end projects for industrial energy supply in various sectors and is active in industrial service and automation. The company was established in 2022 as the result of the merger of hardware rental company Gens Rental, EPC contractor DSG, and industrial automation specialist Dymotec. As of today, the business will continue to operate under the name of Jeco Energies. It employs more than 200 people and has doubled its revenues over the last 2 years.
Sustainable future
’We are impressed by the strong growth realised by the company in recent years’, says Hiram Claus, investment director and head of Belgium for NPM Capital. ‘This investment is in line with NPM’s strategy of investing in sustainable businesses. Jeco’s engineered power solutions contribute to the electrification of industrial processes. Their unique expertise and position in the value chain, in combination with the structural demand for expansion of the electrical power grid, make Jeco Energies a powerful player in a rapidly growing market’.
Jeco’s founder and majority shareholder Jef van den Brande welcomes the participation of NPM Capital and sees it as an important step in the further development of Jeco Energies. ‘The expertise and professionalism of NPM will play an important role in the further development of our organisation within the various niches that we are active in. I am convinced that the synergy between our innovative way of working and the strategic support provided by NPM will enable us to propel Jeco Energies to new heights, locally as well as internationally’, he explains.
‘Same business values’
As part of the agreement, as of 1 October, Jan Van Nuffel will join the management team of Jeco Energies as Group CEO. Over the last three years, Van Nuffel was already involved as non-executive director. He gained extensive experience in previous management positions at construction companies Square Group, Group Verelst and Koninklijke BAM Group. Bob Zegers and the entire management team remain closely involved in the further development of the group.
Van Nuffel is looking forward to working together with NPM: ‘This partnership will further strengthen our operational clout and organic growth, including the accelerated expansion of our rental fleet, and certainly also via further external growth through acquisitions reinforcing our existing business lines. In NPM, we have found a partner with the same business values as Jeco: fostering sustainable growth and caring about our employees. It goes without saying that the expertise and technical excellence of all our Jeco colleagues play a vital role in the continued success of our organisation.’
Completion of the proposed transaction is subject to customary regulatory approval.
About NPM Capital
NPM is an independent investment partner that helps medium-sized and large companies with a head office in the Benelux to achieve their ambitions and build the businesses of the future. With offices in Ghent and Amsterdam, NPM focuses on family-owned enterprises and companies with a strong and dedicated management team. Its current portfolio consists of 24 companies, comprising both majority and minority participations, within themes that have an impact on the world's future: Sustainable Future, Everything is Digital, Feeding the World, and Healthy Life & Learning. Earlier this year, NPM announced an investment in Belgian IT company Tech Tribes.
About Jeco Energies
Jeco Energies is a leading player in the area of low-voltage, medium-voltage, and high-voltage solutions for temporary as well as permanent industrial energy supply. With four business lines (energy, rental, automation and service), it enables its clients to focus on their core activities by providing them with end-to-end integrated sustainable energy solutions. Jeco Energies operates from seven sites in Belgium, the Netherlands and South Africa, serving clients in over 50 countries globally with a team of over 200 employees.
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For more information, please feel free to contact Koolhoven & Partners: npmcapital@koolhovenenpartners.nl or +31 804 017 175