Amsterdam – CFI is delighted to announce it acted as the exclusive corporate finance advisor to the shareholders of Staka, Odink & Koenderink and ConnecTens in their sale to OxGreenfield.
About the companies
Staka is a Dutch specialist in tailor-made stainless steel protective solutions. From its facility in Oosterhout, the company provides its enclosures, cabinets and roof hatches for telecom & security, public lighting & traffic and construction niche (outdoor) applications in the Netherlands, Germany and England. Odink & Koenderink (O&K) provides power distribution systems for low-voltage, (rail) infrastructure, public lighting and other connective solutions. The systems are fully engineered, produced and assembled in-house from its state-of-the-art facility in Haaksbergen. ConnecTens, a 50% joint venture with C&S Benelux develops and assembles its patented, innovative, and plug-and-play compact modular systems, used for low voltage application for all types of connections in the public outdoor space (public lightning, charging points, etc) issued by grid operators.
OxGreenfield is a Dutch private equity investor, focused on small and medium enterprises with technical niche applications with a solid positioning in niche markets and a track-record of strong, profitable growth. OxGreenfield Fund I invests in 8 promising technical SMEs that are active in different markets and various industries, with the focus often on technically competent companies that provide a product, project or service in areas such as: Automation, Precision mechanics, Engineering, Robotisation, System Integration and Technical services. From 1 January 2023 the team will invest from the new fund, OxGreenfield Fund II.
About the transaction
OxGreenfield acquires the majority of the shares in Staka, O&K and the 50% joint venture stake in ConnecTens. With this investment, OxGreenfield targets the strong tailwind in the markets for infrastructure, low voltage, electrification and the broader energy transition by the solid position and a combined footprint with over 100 skilled employees. Seller and managing director Eric Masclee will remain involved, after securing the long-term succession of the companies. Hank Schraven, partner of OxGreenfield, is attracted by the opportunity to grow and further professionalise the companies. The investor sees that a large customer group, the network operators, have joined forces to develop standard modules for e.g. connecting charging stations and lighting in public spaces. ConnecTens plays an important role in this development.
CFI’s role in the process
CFI was invited by the shareholders of Staka, O&K and ConnecTens to orchestrate the sales process, facilitating a.o. Eric Masclee in finding a partner and new owner to support the companies in the next phase of growth while also creating a liquidity event for the other shareholders. CFI prepared all marketing materials, approached potential buyers, subsequently coordinated the due diligence process and led the negotiations, which resulted in a successful transaction with OxGreenfield, completed on 30 November 2022.
Eric Masclee, seller and managing director of Staka, O&K and ConnecTens: “Within this process, CFI fully assisted us, unburdened us, informed and ultimately ensured good conditions within this deal. We are very excited to have found a great match in OxGreenfield. OxGreenfield distinguishes with relevant knowledge and experience, as well as a genuine interest and added value for this business. CFI has delivered the best outcome for this transaction in this complex puzzle. We look forward to a good collaboration.”
Hank Schraven, partner of OxGreenfield: “The ambition that Eric Masclee and his team have is the motivation for us to enter into this partnership. We see a fantastic basis and a great potential in the market. Therefore we expect to take the growth plans to an even higher level. We are looking forward to the future.”
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