Marktlink Fusies & Overnames
Bocorp B.V. acquires German business GIMEX melamine & more GmbH

Company Name
Van Assendelft

Website
https://www.vahb.nl/en

Transaction
Buy-side

Types
Private Equity

Sector
Consumer products

Market
International

Bocorp B.V. acquires German business GIMEX melamine & more GmbH

Marktlink Düsseldorf’s assignment was clear: Richard Schutte, CEO of Dutch business Bocorp B.V., was looking for a German business to acquire. “It is a pleasant experience to collaborate with M&A specialists who not only know the local market through and through, but also take cultural differences between the Germans and the Dutch into account.”

Holding company Bocorp B.V. comprises operating companies Van Assendelft Importgroothandel B.V. in Gilze, the Netherlands, and Indual Mobiliario SLU in Valencia, Spain. Both businesses are active in design, production and distribution of consumer items for campsite, leisure, outdoor and garden. Richard Schutte aspires to reinforce the group’s market position in Europe, and Germany in particular, with complementary businesses. “KeBeK Private Equity, our Belgian major shareholder, advised us to contact Marktlink. Partly thanks to Borys Storck and Sascha Pudenz, we had a great longlist of potential targets to work with.”

Anticipate cultural differences

The task to approach those suitable targets was Marktlink’s. “In the Netherlands, it is common practice to call unannounced and not beat around the bush – that is not the way to address German entrepreneurs. We mostly approach them by letter, preferably at their home addresses. Our strength is that, thanks to our international experience, we know how to anticipate the differences between cultures. Richard fully trusted us with that aspect, and so we were able to optimally guide him towards a great acquisition”, tells Borys, managing partner of Marktlink Düsseldorf.

“It is good to have German M&A specialists at your side to qualify the Dutch way of communicating”

– Richard Schutte (CEO Bocorp B.V.) about the cross border coöperation

Like a squirt of oil to smooth out the communication, is how Richard Schutte describes his cooperation with Marktlink. “During my presentation at GIMEX, I was telling about the Indual Mobiliario SLU case and about how that acquisition process had gone. When Mr Gielens (founder of GIMEX) asked me what exactly it was that I wanted, I answered, just a bit too directly, that I wanted to buy his business. At a moment like that, it is good to have German M&A specialists at your side to qualify that somewhat. Without that link, we likely would not have come to an agreement.”

Future vision and mutual growth potential

Patience is of vital importance in an acquisition process, Schutte realises. “And I can see why, selling your business involves much more emotion than acquiring one, as I did. In my presentation, I explained our future vision and mutual growth potential as much as possible. After that, you need to wait for the potential seller, who is going through a very different process. And we hope to repeat that process with other German businesses, also introduced by Marktlink, to expand our portfolio even further.”

Trust in Marktlink

For team Düsseldorf, the cooperation with Schutte and the Belgian private equity partner meant a great recognition of services rendered by Marktlink previously. “This company had done business with colleagues of other offices, and it is great that it has shown its trust in Marktlink as a brand this way. Due to our international positioning, specific market knowledge and clear-cut working methods, we are able to assist entrepreneurs optimally in the acquisition or sale of their businesses.”

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