Acquisition of Wielens Beheer BV finalised
On 27 November 2007, the ERIKS group announced having reached an agreement in principle regarding the acquisition of all shares of Wielens Beheer B.V. (“Wielens”) in Groningen, The Netherlands. The due diligence has been finalised and the Sale & Purchase Agreement has been signed. The results of Wielens will be consolidated as of 1 February 2008. The acquisition will contribute immediately to the results of the ERIKS group.
The activities of Wielens comprise the marketing, sale and customising of a wide range of high quality equipment parts and services specialised in electromechanical power transmission. Wielens serves mainly the industrial maintenance market (MRO) and achieved sales in 2007 of € 22 million with approximately 70 employees. The head office, the central warehouse and the workshop are situated in Groningen from where Wielens strongly expanded to 9 branches primarily in the northeast of the Netherlands in the last decade.
The acquisition fits in with ERIKS´ policy of aiming at a top 3 position in each core activity in all countries in which ERIKS is present and further expanding its local presence.
With this acquisition
ERIKS obtains 9 additional branches including a central warehouse close to its (potential) customers in the maintenance market. The existing ERIKS network will be strengthened and expanded;
ERIKS obtains via these branches opportunities to increase sales by means of stronger market penetration of its current products groups and to further optimize its services;
ERIKS substantially strengthens its position in the product group electromechanical power transmission in the Netherlands.