Management fully acquires Arcomet

18 June 2008

Dirk Theyskens, Arcomet CEO

Dirk Theyskens, Arcomet CEO

Arcomet's management team, led by CEO Dirk Theyskens, has fully acquired the company from minority shareholders GIMV, Sofinim and NPM Capital. GIMV held 20% of Arcomet, while Sofinim and NPM Capital each held 10%.

The three investors had held their shareholdings in the Belgian tower crane rental specialist since 2000. During their period of ownership, Arcomet's revenues grew from € 52 million (US$ 83 million) in 2000 to € 120 million (US$ 188 million) last year. Earnings before income tax, depreciation and amortisation (EBITA) grew from € 12.5 million (US$ 19.5 million) to € 33 million (US$ 51.5 million) over the same period.

The terms of the deal were undisclosed.

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