“By joining WILVO, we are creating new opportunities for ITEQ”
The acquisition of ITEQ Group BV (Nijkerk) by WILVO Holding BV (Bergeijk) offers both businesses great future prospects. The current management team will retain final responsibility for ITEQ, and WILVO will expand its product and service range with this strategic acquisition.
Since its inception in 1988, ITEQ has grown into a one-stop shop for metal sheet components. The company produces everything from prototypes to large batches. For its customers, ITEQ designs, engineers, produces and assembles finished and semi-finished products, including electric charging stations, agricultural machines, cash machines and bathroom fittings.
Timing of the market process
Contacts between Marktlink and ITEQ had been established in the course of the past few years. Together with the shareholders, Jeffrey Scholtens determined the timing of the market process. “What makes this deal special is that, according to the wishes of ITEQ, WILVO offers ITEQ’s management the opportunity to continue to develop the business. For both current and new customers of both companies, this means an expansion of products and services, both at home and abroad.”
Lars de Ruiter of Marktlink was involved in the deal as well. “A striking number of interested candidates came forward. During the past years, the owners have taken the business to a higher level. With new accommodation in Nijkerk, a high level of automation, digitisation and the solid cooperations with its OEM customers, ITEQ has firmly established itself in the top of the metal industry in the Netherlands. Now that the company has joined a larger strategic partner, its growth is gaining momentum. We introduced them to several interested candidates and eventually, WILVO proved the best fit.”
Involved at a distance
Tim Kollen and Theo Tolboom are more than content. “We are happy that ITEQ joined WILVO, a renowned name in the market. This acquisition opens up new opportunities in the areas of increasing scale, product development and target markets. It is just great that our current management team is given final responsibility for ITEQ Group, that truly was one of our major desires. For the time being, we will remain involved in the business at a distance.”
With the acquisition of ITEQ and its approximately 70 employees, the full WILVO Group expands to over 360 employees. Rob Lemmen, WILVO’s CEO, is looking forward to a successful cooperation. “With modern machinery and a professional approach, ITEQ supplies customers in market segments that are new to us. In addition, we can now serve current and new customers with design and engineering.”