Sale: NorthGroup
NorthGroup, based in Groningen, operates in the field of underground infrastructure, specialising in the pre-execution phase of underground works and focuses on the installation of cables and pipelines for the distribution and transport of gas, heat, fibre optics and data. Having built a strong track record, the company is now ready for the next step, prompting owner Mr Halma to set out to find the right partner to drive further growth.
In addition, Mr Halma wished to give one of his employees the opportunity to take a stake in the company, while also remaining involved himself through reinvestment and/or a minority shareholding.
Pre-exit
The process ultimately led to a pre-exit transaction with Het Participatie Huis, an independent investment firm that invests in Dutch SMEs. Het Participatie Huis provided NorthGroup with an advisor and sounding board to support the business in areas such as HR, marketing, and further professionalisation, giving NorthGroup the chance to gradually become accustomed to the idea of a future sale.
Sale support
De Jong & Laan advised and guided NorthGroup throughout the sale process, which included:
- Carrying out a business valuation to provide insight into the potential proceeds;
- Preparing the information memorandum;
- Identifying and approaching potential acquisition candidate;
- Leading the negotiations;
- Guidance on the due diligence investigation;
- Supporting and advising on the drafting of acquisition contracts and closing the acquisition.
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