Heras is set to be acquired from the Irish based building materials giant CRH by Equistone Partners Europe one of Europe’s leading mid-market private equity firms.
The company’s management team will also acquire a minority stake in the business and. Heras will continue to be led by Gilles Rabot, who joined the business in 2015.
Financial terms of the transaction are not being disclosed and the acquisition remains subject to clearance from the relevant competition authorities.
Founded in 1952, Heras is a major player in the perimeter protection business particularly in Europe and the UK where it has manufacturing facilities. It has sales offices in the Netherlands, UK, Sweden, Norway, Germany and France. Its production facilities are in the Netherlands, Belgium, France, Sweden and Doncaster.
Heras has over 1,100 employees and generates annual revenues of over €220 million.
Following the carve-out of the company from CRH plc by Equistone, Heras intends to grow as a platform for consolidation by identifying potential add-on opportunities in a fragmented market. The company also plans to grow organically by developing new products and services, building new customer relationships and strengthening its existing network.
Hubert van Wolfswinkel, Director at Equistone, said: “We are very impressed by Heras’ leading position in the market, which it has achieved by having a strong European manufacturing footprint, long-standing customer relationships and a highly experienced management team.” Dirk Schekerka, senior partner at Equistone, added: “In partnership with Heras’ excellent management and employees, we will support the company’s continued growth trajectory and its expansion into new markets and regions.”
Gilles Rabot, managing director at Heras, said: “We are delighted to have Equistone as a reliable and financially strong new partner. Having them on board will support our continued growth and enable us to expand our business. Together we will continue to develop and provide high-quality, innovative mobile and permanent perimeter protection solutions to meet the ever-evolving safety and security needs of the market.”
