Anders Invest has acquired 160-years old Lagersmit Sealing Solutions from Alblasserdam. Lagersmit has 60 employees and realizes a healthy and profitable turnover. The shares are bought from managing director Willem Steenge and Rabo Participaties. Willem Steenge will remain as CEO. The acquisition was done together with the renowed Dutch Family Office De Hoge Dennen Capital and 11 co-investors. De Hoge Dennen is owned by family De Rijcke, known as former owner of famous Dutch drugstore chains as Kruidvat and Trekpleister.
Lagersmit produces and sells a wide program of high quality shaft-seals for ship propulsion-systems, pumps and tidal turbines. The shaft-seal is a crucial separation system that keeps water out and the oil for the lubrication of the shaft in. The seals are also used for dredging pumps, (cooling) water pumps, tidal power plants, pumping stations and industrial applications. Lagersmit was founded in 1856 and belonged to Royal IHC for a long period. For decades the world market has been dominated by 4 players, of which the only independent player Lagersmit has the most focus and a fully automated production. A large part of the turnover is generated from existing clients and service, which reduced the impact of the crisis in the maritime market on the company.
The new shareholders have entered the company with a long term vision, focusing on stability and continuation of growth ambitions, for instance in China and the industry market. The transaction was led by Anders Invest. It is the sixth investment of Anders Invest. The transaction is financed by Rabobank. The 11 co-investors are all investors in the fund. Anders Invest expects to offer the fund investors further attractive co-investment opportunities in the coming years.
Gert-Jan Huisman will be the investment manager of Lagersmit.