Vremac acquired by VAPO

Oaklins expands track record in maritime industry

Oaklins has advised Royal IHC on the divestment of Vremac, a designer and manufacturer of custom-made hydraulic cylinders, accumulators and swivels, to VAPO. Oaklins served as exclusive sell-side advisor to Royal IHC.

For close to 60 years Vremac has offered expert solutions in hydraulic cylinders and has developed a leading reputation in a variety of markets. Vremac’s cylinders are especially suited to operate in harsh environments, such as dredging & offshore, civil engineering, transport & loading and heavy-duty machinery industries.

The company has a strong global client base in multiple end markets. Renowned customers include Caterpillar, Mammoet, SPIE, Huisman, Royal IHC and Boskalis.

This divestment will enable Vremac to realise its growth ambition and to make optimal use of its potential and recently upgraded facility. Dave Vander Heyde, CEO Royal IHC

Since 2017, Vremac operates from a custom-build facility in Apeldoorn. Vremac has been involved in a wide range of high-profile projects including the delivery of hydraulic cylinders for the Panama Canal and Boskalis’ cutter suction dredger Helios, which was the largest of its kind at that time. Vremac reported stable year-on-year growth in revenue and EBITDA. VAPO is a well-established partner for companies in need of intelligent hydraulic components and systems of high quality. The company is based in Belgium and is backed by Vybros, a Belgian private equity firm focused on small- and medium-sized companies. Royal IHC’s CEO, Dave Vander Heyde: “IHC’s strategy is to be a supplier of reliable and innovative equipment, vessels and services, and we have therefore decided that it would be better for Vremac to team up with a new strategic partner. In this way, Vremac will be able to realise its ambition for further growth and make optimal use of its potential and recently upgraded facility.”

IHC has been involved in a wide range of projects for locks, gates and dams, from the Dutch waterways to the Panama Canal lock cylinders

Commitment makes all the difference

Oaklins’ sector-focused marine equipment together with the local team in Belgium advised the shareholders and management of IHC Vremac on the sale of the business. Royal IHC choose Oaklins because of Oaklins’ detailed understanding of the business and the opportunities and challenges facing global marine equipment suppliers. The senior team built a structured process around key buyers, developing significant interest internationally, from strategic and financial players. Competitive offers from private equity and trade ran in parallel. Fokko Poldervaart (global head of Oaklins' marine equipment team) commented: “A lot of potential buyers expressed interest in acquiring Vremac. We ran a seamless process together with our Belgian colleagues. They approached VAPO, leveraging on their long-standing relationship, which worked out really well. Our extensive experience within the industrial space and marine equipment contributed to a smooth process.”

Fokko Poldervaart, global head of Oaklins’ marine equipment team

The transaction underlines Oaklins’ profound knowledge in the marine equipment industry, where Oaklins advised on numerous mergers and acquisitions including Vetus (sold to Yanmar), VAF Instruments (sold to Aalberts), TMC Compressors (sold to Lifco) among many others. The maritime sector, Fokko added, “is a complex area where a specialist approach, focus and contacts are very important”.

The Dutch Financial Paper “Het Financieele Dagblad” published an article about the deal with VAPO.

Oaklins people

Our deal teams consist of trusted advisors with an entrepreneurial mindset who combine global industry expertise with local presence.

Fokko poldervaart
Fokko Poldervaart Amsterdam, The Netherlands
Partner
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Tom snijckers
Tom Snijckers Amsterdam, The Netherlands
Senior Associate
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Stijn van lint
Stijn van Lint Amsterdam, The Netherlands
Analyst
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