Mergers & Acquisitions

Van der Lee Sold to Transports Vervaeke (Belgium)

By 26 January 2017 No Comments

van der leevervaeke

 

“YES Corporate Finance has advised us with great dedication and professionalism”

YES Corporate Finance has successfully seconded the sale of international transportation company Van der Lee B.V. (“Van der Lee”) to Transports Vervaeke N.V., Belgium (“Vervaeke”).

Van der Lee
Van der Lee is a family-run business boasting nearly 100 years of history in domestic and international transport of hazardous (ADR) and non-hazardous bulk liquids. Based in Delft (the Netherlands), the company owns 7 sites in the Netherlands, Belgium and Germany. With over 350 employees and 750 vehicles, it is considered a market leader in coated transport in the Netherlands and among the top 3 in Belgium. Their customer base consists of large companies such as AkzoNobel, van Gansewinkel, Bayer and Brenntag. More information about Van der Lee

Van der Lee was founded in 1919 by Leendert van der Lee (senior). In 1988 Frans van der Lee, Ruud van der Lee and Rob van der Lee took over the company and have continued to build the business into a very successful and profitable company with approximately € 50 mln of revenues and € 8 mln EBITDA. Due to the fact that there was no successor, the shareholders decided to seek assistance from YES Corporate Finance to sell the company.

Vervaeke
Vervaeke was founded in 1935 and is based in Zellik, near Brussels, Belgium. This company is the Belgian market leader in bulk transports within the chemical and petroleum sector. Vervaeke works with an approximated 1000 trucks and tank trailers (all ADR-approved), more than 500 employees, and owns sites in Zellik, Spiere, Seneffe, Luxembourg and Rijsel (France). About 80% of their revenue is generated through transportation of chemicals and the remaining share through distributing fuels. More information about Vervaeke

Role YES Corporate Finance
YES Corporate Finance has assisted and advised Van der Lee in a competitive sales process. YES CF has successfully executed the following actions:

  • Conducting preparations on the sales process
  • Drafting the Information Memorandum
  • Seeking and selecting the appropriate buyer
  • Working out the deal structure and valuation
  • Coordinating the due diligence
  • Negotiating the deal & additional conditions including the sales- and purchase agreement.

Ruud van der Lee (seller):
“I have great admiration for Arjan Boonekamp and Joris van Rijn from YES Corporate Finance who have advised us during the sales process of our family business. Their very large international network, the direct approach, the short communication lines (there was always someone available) and their commitment and ownership made them a reliable partner during the transaction.”

Rob van der Lee (seller):
“YES CF has advised us with great dedication and professionalism. In a family business like Van der Lee emotions play an important role which has been managed very well by Arjan and Joris. Therefore, I want to thank them for the excellent cooperation and great result achieved.”

Highlights of the transaction:

  • Family business Van der Lee, Dutch market leader in transportation of hazardous (“ADR”) bulk liquids and non-hazardous bulk liquids has successfully been sold to Transports Vervaeke, Belgian market leader
  • The three shareholders have sold 100% of their shares in Van der Lee, securing the jobs of their 350 employees
  • YES Corporate Finance has successfully acted as M&A advisor and assisted the shareholders of Van der Lee in the sales process

Click here for more examples of successful transactions.

More information:

tank deal

Arjan Boonekamp
Partner
+31 6 8127 1573
boonekamp@yescf.nl

Joris van Rijn
Partner
+31 6 5083 9612
vanrijn@yescf.nl

YES Corporate Finance