Frédéric Durumeaux, CEO Vervaeke: “Due to the commitment and professionalism of YES Corporate Finance, we were in control every step of the acquisition process and we were able to sign and close the deal within the agreed time frame.”
f.l.t.r.: Ilmatar Lutje Schipholt (YESCF), Arjan Boonekamp (YESCF), Isabel Degroote (CFO Vervaeke), Frédéric Derumeaux (CEO Vervaeke).
YES Corporate Finance has successfully assisted Transport Vervaeke N.V., (“Vervaeke”) based in Zellik (Belgium) with the acquisition/purchase of the Beheer-, Transport- en Exploitatiemaatschappij Jan Dohmen B.V. (“Jan Dohmen”). Current management is selling all shares and will remain in place at Jan Dohmen after the transaction.
Jan Dohmen (www.jandohmenbv.com) is a tank container specialist founded in 1912. The company is headquartered in Herkenbosch (Limburg, The Netherlands) and has approximately 70 employees in service. Jan Dohmen is an important European transport company and intermodal logistic services provider of bulk liquid chemicals and gasses (ADR). The company has approximately € 20m in revenues. Jan Dohmen is known in its sector for its specialized knowledge and experience in the area of multimodal service (road, railway, sea transportation). By the acquisition of Jan Dohmen, Vervaeke is can expand its activities for existing customers with transport by train and by boat. These activities and the strong reputation, form the basis for the strategic takeover by Vervaeke.
Vervaeke (www.vervaeke.com), founded in 1915, is located in Zellik (nearby Brussels). The company is the Benelux market leader in tank transport within the chemical and petroleum sector (ADR). After this acquisition, the Vervaeke group will grow to a turnover of more than € 140 million, with a fleet of 750 tractors, more than 1,000 tank trailers, with 750 tank containers and 950 employees.
Vervaeke offers tank transport from thirteen locations located in the Benelux, France and Germany and focuses on providing demanding logistics services to the chemical and petroleum industries, mainly by road. A continuous process of technical innovation and experienced, well-trained local staff guarantees this service.
In 2017, Vervaeke acquired international transport company Van der Lee from Delft. Through this acquisition, Vervaeke had doubled its activities and expanded its geographical presence in Europe’s largest chemical cluster. YES Corporate Finance was also involved in this transaction in the role of adviser to the selling shareholders, see the link.
Role YES Corporate Finance
YES CF supported Vervaeke with:
- Thorough financial analysis based on the Information Memorandum provided by the sellers
- Making an extensive valuation of the target and advising on the acquisition price, including advise on the correct deal structure
- Making the offer letter, and negotiate this together with the lawyer to an agreed letter of intent (LOI)
- Translating the outcome of the due diligence
- Drawing up a Financing Memorandum for financing the acquisition
- Searching for and selecting the most suitable financier and negotiating the best financing conditions
- Negotiating the transaction documentation up to and including Signing and Closing
Highlights of the transaction:
- Jan Dohmen, an important European intermodal logistics service provider in liquid chemicals and gas, has been successfully sold to Verveake (Belgium)
- As M&A adviser, YES Corporate Finance advised Vervaeke with the successful acquisition of Jan Dohmen, including the arrangement of the acquisition finance by Rabobank
This transaction has successfully been completed at April 5th
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