Triton invests in Royal Reesink alongside current Management
Frankfurt (Germany)/Apeldoorn (The Netherlands), 11 June 2019 – An entity controlled by the funds advised by Triton Partners (“Triton”) reached an agreement to acquire a majority stake in Royal Reesink B.V. (“Royal Reesink”), one of the largest international equipment distribution and aftermarket services platforms, from Gilde Buy Out Partners ("Gilde"), Teslin Participaties Coöperatief U.A. ("Teslin") and Navitas B.V. ("Navitas Capital"). Triton invests alongside the current management of Royal Reesink. The company is a long-standing partner for major A-brand OEMs and is active in the agriculture, turf care, material handling and construction industries and hydraulics business. The financial terms of the transaction were not disclosed. The completion of the envisaged transaction is expected in the second half of 2019 and is subject to customary approvals by regulatory authorities. The agreement is also subject to the completion of the consultation process with Royal Reesink’s works council.
Peder Prahl, Director of the General Partners for the Triton funds, said: "We look forward to actively supporting the management and employees of Royal Reesink as a stable owner by investing in the growth and development of the company. Our industry expertise and international network will further strengthen Royal Reesink’s position as a reliable partner to leading OEMs in various industries.”
“With Gilde, Teslin and Navitas Capital as a partner we have been able to further strengthen our leading market position in the Benelux as well as accelerate our growth throughout other countries such as Canada, South Africa, Germany and the United Kingdom. We are pleased to welcome Triton as the new majority owner. Based on their experience from prior investments, they have demonstrated deep sector knowledge. Triton is clearly the right partner for us as we continue to leverage our strong brand portfolio and aftermarket capabilities,” said Gerrit van der Scheer, CEO of Royal Reesink.
“Royal Reesink is recognized by its customers as a preferred provider of equipment and related lifecycle services and we look forward to continuing Royal Reesink’s success story together with management and employees”, adds Luc Hendriks, Operating Partner at Triton.
This press release is published in English, Dutch and German. In case of conflict between the English, Dutch and German versions, the English version shall prevail.
About Royal Reesink
Royal Reesink was founded in 1786. The company has a Benelux stronghold along with a global footprint, also providing its end-to-end solutions in Canada, Germany, the United Kingdom, Kazakhstan, Denmark, South Africa and Turkey. Royal Reesink has around 2,100 employees. It enables customers to achieve the highest yield from machines and systems. By focusing on robotization, engineering, connectivity, measurability and the countries use of big data, Royal Reesink continually explores new opportunities for innovation. This involves sustainable solutions that respect people and the planet.
For further information: www.royalreesink.com/en
Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.
The 37 companies currently in Triton's portfolio have combined sales of around €14.9 billion and around 73,000 employees.
For further information: www.triton-partners.com