Ackermans & van Haaren and MerweOord join HAL in IQIP ownership

HAL Investments (HAL) announced last week it is selling 60% of its shares in IQIP Holding B.V. (IQIP). Belgian investment company Ackermans & van Haaren (AvH), through its wholly owned subsidiary AvH Growth Capital NV, is acquiring 40% of the shares while MerweOord B.V. takes a 20% stake in the company.

Amsterdam-listed company HAL acquired 100% of the shares in the foundation and installation solutions provider IQIP in March 2023 from Royal IHC and has now agreed to sell 40% of IQIP to AvH Growth Capital NV1 and 20% to MerweOord.

The latter has the option to increase its shareholding to 33.33% during 2024, which upon exercise would result in HAL, AvH and MerweOord each owning one-third of IQIP’s shares.

The transaction is based on an equity value of IQIP, adjusted for dividend, of € 250 million, of which € 100 million by AvH. The finalisation of the transaction is subject to customary regulatory clearance and is expected to be completed early 2024.

IQIP

IQIP, headquartered in Sliedrecht, designs and assembles hydraulic hammers and other (sets of) piling, handling, lifting and subsea guiding equipment that are leased or sold globally across three core markets: Offshore Wind, Coastal & Civil and Oil & Gas. In addition, the company has growth ambitions in related (innovative) offshore markets such as decommissioning of oil & gas platforms.

Within Offshore Wind, its largest segment, IQIP offers crucial services such as pile-driving solutions, noise mitigation systems, and tools for lifting, upending, gripping and guiding. Since its carve-out from IHC in March 2023, the company is making significant investments in its equipment fleet to prepare for the forecasted double digit growth in the offshore wind energy market.

Ackermans & van Haaren & MerweOord

Ackermans & van Haaren positions itself as the long-term partner of choice of family businesses and management teams to help build high-performing market leaders and contribute to a more sustainable world. The diversified group is operating in 4 core sectors: Marine Engineering & Contracting (DEME, CFE), Private Banking, Real Estate, and Energy & Resources. In its Growth Capital segment, AvH also provides growth capital to sustainable companies in different sectors.

MerweOord is the family holding company of the Van Oord family, owning 78.5% of the shares in international marine contractor Van Oord N.V. Source: AvH

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