Due diligence investigation Hegeman

Aannemingsmaatschappij Hegeman has acquired Bouwbedrijf Dobu. Together with its subsidiaries Jansman Bouw and Aarts Bouw, Hegeman is a specialist in civil and utility construction. De Jong & Laan supported Hegeman by conducting a financial, tax and employment law due diligence investigation.

Due diligence investigation: Hegeman

Hegeman is a true family business with roots going back to 1927. Today, the company is run by the fourth generation, Frank Hegeman. With more than 200 employees and three locations, Hegeman serves clients throughout the Netherlands.

Acquisition of an established business

Dobu, based in Someren, is a full-service construction company carrying out projects for both commercial and private clients. The company focuses on utility construction, new builds, refurbishments, home adaptations and renovation work in strict compliance with environmental regulations and with a strong emphasis on safety and quality, supported by a wide range of certificates and accreditations.

The acquisition of Dobu is based on strategic considerations, as it sees Hegeman expand its skilled workforce with 18 employees. Dobu’s activities will be integrated into Aarts Bouw. Roland van Bussel, the selling shareholder, will remain involved with the company in the coming period as commercial director.

Timon Schuurmans
Timon Schuurmans Adviseur corporate finance

Due diligence investigation

The due diligence was led by Marco Herder, working with Timon Schuurmans, Lisa Schreijer, Marian Brendel, and Joanne Wesselo. The financial review focused on, among other things:

  • validating the historical financial results;
  • assessing the acquisition balance sheet and equity bridge;
  • determining the normalised level of working capital.

The tax and employment law review assessed the company’s position in relation to taxation and employment law.

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