Atlantic Capital and management acquire Wigersma & Sikkema
February 2, 2018
Yuno Advisors was engaged by Saffelberg Investments as financial advisor in the 100% sale of Wigersma & Sikkema to private equity investor Atlantic Capital and the current management. Atlantic Capital acquires the majority of the shares and CEO Piotr Skotnicki, who already owned an equity share, further expands its stake in the company’s share capital as part of this transaction. Piotr Skotnicki will continue as CEO of the company.
Wigersma & Sikkema is based in Doesburg and develops, produces and sells systems for remote reading, instruments for volume conversion, gas pressure regulators and inspection systems for gas stations. Wigersma & Sikkema is the market leader in the Netherlands within its niche and increasingly supplies its innovative products to international customers. The company currently has a turnover of approximately € 7 million with a healthy profitability and employs approximately 30 people.
Wigersma & Sikkema started in 1921 as a technical trading company. In the 1960s the company also started building gas stations, with which it contributed to the roll-out of the natural gas network in the Netherlands. Between 1992 and 2014, the company was part of the Danish multinational Kamstrup, after which the company was again privatized in 2014 by means of a management buy-in by Piotr Skotnicki together with QAT Investments (now part Saffelberg Investments). Wigersma & Sikkema did no longer fit within Saffelberg’s investment criteria, and with Atlantic Capital as the new partner on board, the company is once again ready for its next growth phase, which will focus on maintaining its market-leading position in the Netherlands in combination with international expansion.
Atlantic Capital, managed by Kenneth Broos, is an independent Dutch investment company focused on companies with growth and/or improvement potential, without a specific branch or sector preference. Atlantic Capital takes both minority and majority interests depending on the situation and co-operates with the entrepreneurs and MBO / MBI candidates.
Yuno Advisors assisted Saffelberg Investments and the company in the entire sale process. Our advisory covered all aspects of the process, including contacts with potential acquirers, drafting of the information memorandum, financial modelling and budgeting, process documentation, drafting of a letter of intent, due diligence co-ordination, assisting in deal negotiations and transaction documentation.
Click here to view the original press release (in Dutch) by Wigersma & Sikkema and Atlantic Capital.