Amadys is a leading provider of passive network equipment solutions to all utility segments in Belgium and surrounding countries. Equistone, one of Europe’s leading mid-market private equity firms, has agreed to acquire Amadys from its management and Vectis Private Equity.
The existing management team, led by CEO Hein Wilderjans, will continue to run the company following the acquisition. The management team will reinvest and will retain a sizable minority share in the company. The transaction is expected to complete early in 2020.
Lieven Coen, Managing Partner, Vectis Private Equity, said: “Our partnership with the Amadys team has delivered an exceptional result, driven by the company’s buy-and-build expansion strategy. Together with management we have grown the business more than eightfold in the last 6 years through consistent organic growth and multiple bolt-on acquisitions, creating a leading position for Amadys in the Benelux. It has been a pleasure working with Hein and the entire Amadys team over the past six years and we would like to thank them for all their hard work and dedication. We wish them the best of luck in continuing this successful growth story.”
Amadys employs over 100 people in Belgium and the Netherlands and generates revenues of more than €130 million (2018).