Growth Capital

Swets Group and Aqualiner Raise New Growth Capital

By 5 November 2019July 20th, 2020No Comments

YES Corporate Finance found foreign investors after the withdrawal of the Dutch banks

YES Corporate Finance has successfully advised Swets and Aqualiner in a new debt funding round. The new credit facilities enable further growth of both companies.

Swets Group B.V. (“Swets”) and Aqualiner Group B.V. (“Aqualiner”) are part of a group of companies focusing on nautical infrastructure services.

Swets
Swets (www.swetsinlandshipping.nl) is an infrastructure service provider specializing in seconding highly educated personnel in the nautical sector, especially focusing on European inland shipping and infrastructure. The primary activity of Swets is the operation of bridges, locks and ferries in the Netherlands, mainly as a service provider for Dutch government. The company is located in Zwijndrecht (The Netherlands) and employs over 1250 FTE with revenues in excess of € 40 million.

In addition the company is active in the passenger transport sector on the Dutch waters. It has a leading market position in The Netherlands due to the acquisition in 2018 of ODV (www.odvmaritiem.nl/). Growth opportunities abroad are expected to increase together with Aqualiner.

Aqualiner
Aqualiner is a joint venture of Swets Group and entrepreneur Gerbrand Schutten providing waterborne passenger transport in Antwerp, Belgium (DeWaterBus, www.dewaterbus.be/en). Aqualiner started in May 2017 in Antwerp with their first ferry service and just one ship. At the end of 2019, the fleet will consist of more than 10 ships and an increasing number of ferry services will be operational. The growth continues!

In order to generate strong further growth, a new fleet of boats was required and ordered. This significant investment program combined with a working capital increase has been financed by the new debt syndicate. Nomura International Plc acted as the debt arranger in a transaction with Sequoia Investment Management.

Role YES Corporate finance

YES CF assisted Swets and Aqualiner in an intensive process with:

  • Preparing the Financing Memorandum
  • After a long lasting search in The Netherlands, finding and selecting the best debt provider and negotiating the best terms and conditions
  • Nomura, based in Japan with a London branch, was found. Nomura has a focus on supporting fast-growing companies
  • Organising management presentations, site visits and the due diligence coordination
  • Negotiating the complex financing documentation until signing and closing

Highlights of the transaction:

  • Swets has been able to finance, acquire and integrate ODV. Over the past years it has developed to become a multinational company
  • Aqualiner has been able to substantially expand its fleet and become a market leader within three years in the Belgium waterborne passenger transport market
  • YES CF successfully assisted Swets and Aqualiner raising strategic growth capital

This transaction has successfully been completed at October 23rd 2019.

Click here for more examples of successful transactions.

More information:

Josip Petrarca
Partner
+31 6 5171 9654
petrarca@yescf.nl

Lars van der Veen
Associate
+31 6 2873 9437
vanderveen@yescf.nl

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