07/09/2021 | Press release | Distributed by Public on 07/09/2021 00:46
D'Ieteren Group announces the acquisition of a 40% stake in TVH Parts and a long-term partnership with the Thermote family
- This is an abstract. For further details, please refer to the full press release -
D'Ieteren Group has signed an agreement to acquire a 40% stake in TVH Parts from the Vanhalst family and agreed on a partnership with the Thermote family to support the development of the company over the long term. The agreement values the company at an enterprise value of €3,650m.
TVH Parts, headquartered in Waregem (Belgium), was created more than 50 years ago, and has become the global independent leader for aftermarket parts related to material handling, construction & industrial, and agricultural equipment. It has continuously expanded its customer proposition and geographical presence and has today 81 branches in 26 countries across all continents, fulfilling more than 17,000 orders a day thanks to its 4,500 employees. The company has built a considerable amount of data over the years which together with its exceptional logistics capabilities, unmatched product availability, and multiple efficient e-commerce platforms are at the center of its competitive positioning.
The investment in TVH Parts as a new pillar to the D'Ieteren Group - next to Belron, D'Ieteren Automotive, Moleskine and D'Ieteren Immo - underlines our commitment to invest in and support the development of companies leading their industries, that enjoy long term growth perspectives, and have highly competent management teams with the ambition to make a difference.
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In existence since 1805, and across family generations, D'Ieteren Group seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry and geographies. The Group currently owns the following activities:
Francis Deprez, Chief Executive Officer
Arnaud Laviolette, Chief Financial Officer
Stéphanie Voisin, Investor Relations - Tel: + 32 (0)2 536.54.39
E-mail: [email protected] - Website: www.dieterengroup.com