Deals

Geveke
BlueMind's professionalism and personal support in particular have led to a successful cooperation. The advantage of the cooperation with BlueMind is that one does not have to worry about a great number of financial-technical subjects, because BlueMind with its knowledge covers all these subjects. That way we were able to concentrate on the substance of the process. The speed in which BlueMind operated was outstanding in this complex process with all these parties involved.
Arnoud Wiezer, CEO, Geveke
quote

Completion Date
January 2008

Transaction Type
Management Buyout

Transaction Value
(Not disclosed)

Lead Partner
Bart Jonkman
Telephone +31 73 623 8774

Background
Geveke is an industrial services company with over 125 years of experience. The company is a leading supplier and distributorof smart process equipment for the (petrochemical) industry and acts as system integrator in turnkey solutions. Geveke develops various process systems through multiple subsidiaries, all of which have their specific product lines and marketing strategies. Amongst its well known customer base, Geveke services Shell, BASF and Imtech.

In 2004 Geveke was delisted and sold to Nimbus PE. BlueMind advised Geveke management on its management buy out in 2005 with Belgium private equity firm GIMV and on its secondary buy out with ABN AMRO Private Equity in 2008.
In 2007 BlueMind also advised Geveke Werktuigbouw on the purchase of CompAir (Belgium).

What Difference Did We Make?
BlueMind's role encompassed a number of different areas which relied in the continuity of the relationship with Geveke's management team. We navigated management through PE vendor led auctions and ensured that, from the management's point of view, the right structure and (new) PE investor was arranged on beneficial terms. In particular we structured management's investment terms and negotiated the whole deal with GIMV in 2005.

In 2008, we managed a mini auction process amongst PE investors for the secondary buy out, and selected ABN AMRO PE as the preferred equity partner. Subsequent to closing the buy out, GIMV approached BlueMind to advise on the acquisition for Geveke of CompAir in Belgium.