Xplore Instruments finds a partner in Axeco to achieve growth ambitions
By attracting Axeco Participaties as a partner, Xplore Instruments can accelerate achieving its growth ambitions and increase its sustainable impact. Departing CEO Leon Rijks has transferred a majority share, as have Maurice Lambriex and Bert Kip. Guralp Ozkoc has joined the shareholders and is the new CEO.
Contact between Xplore Instruments and Marktlink goes back several years. “Since the first exploratory meeting, the company has gone through considerable development”, say Roger Loontjes and Youri Livius, who, together with Tom Beltman and Ronald de Graaf, formed the dealteam. “The company has successfully launched groundbreaking new instruments, creating a tremendous boost. For Leon, this was the reason to consider selling the company and he started the sale process in close consultation with the other two men.”
Interest from private equity
Xplore Instruments has a very specialist field of work. The Sittard-based company can call itself the undisputed frontrunner in laboratory instruments for polymer research. “The high margins and the focus on sustainability caught the attention of different private equity firms”, according to the dealmakers. Axeco showed remarkable decisiveness and the well-known click was abundantly clear for both parties. Guralp Ozkoc, by now the new CEO, understands the work Xplore Instruments does and this technical knowledge made the three gentlemen confident about the deal.”
The starting point for this partnership is that Xplore Instruments remains the forerunner in high-tech laboratory instruments through innovation. “The company now has many more sales opportunities, can handle higher volumes, expand its current markets and also enter new ones”, Roger Loontjes and Youri Livius say. “Xplore Instruments’ production and development already ran smoothly, but now the company can take active steps in the area of sales and marketing. Leon resigns from his operational duties, but remains active in an advisory role, together with Maurice and Bert.
Increasing sustainable impact
The dealteam looks back on a successful acquisition process and smooth cooperation between all parties involved. Guralp Ozkoc and Leon Rijks are very pleased with the transaction and are confident about the future. “The partnership with Axeco allows Xplore Instruments to capitalise on the many opportunities and thus increase the sustainable impact of the company. Our customers are on the brink of major sustainable change, and it is important that we continue to innovate to support them in this.”