Ploeger Oxbo strengthens shareholder base through investment NPM Capital
NPM Capital is the strong financial partner that the manufacturer of specialty agricultural equipment has been looking for to support its long-term growth strategy.
Roosendaal, 3 August 2018 – Ploeger Oxbo Group has attracted a new major shareholder. NPM Capital is the strong financial partner that the manufacturer of specialty agricultural equipment has been looking for to support its long-term growth strategy. This strategy is aimed at bolstering innovation and product development to further strengthen Ploeger Oxbo’s leading position in its worldwide niche markets. The transaction file has also been submitted to the required Competition Authorities.
Ploeger Oxbo’s roots go back to the 1950’s. The group was formed in 2011 in a merger between Netherlands-based Ploeger and US-based Oxbo. Over the past decades, the companies have expanded rapidly as a result of autonomous growth and acquisitions. From a strong position in harvesters for corn, beans and peas the product range has been expanded to equipment for crops like potatoes, berries, coffee, olives and grapes and to self-propelled windrow mergers, sprayers and fertilizer applicators. Ploeger Oxbo has a leading position in these niche markets and operates in forty countries on all continents. Over the past months both Ploeger Oxbo and NPM Capital have developed a shared vision on the strategic direction of the company.
“This company has a strong entrepreneurial spirit”, say Gary Stich and Niels Havermans, both Board members at Ploeger Oxbo. “The fact that the founders of the group in 2011, both private as well as three Dutch investment companies (Synergia Capital Partners, VDL Participatie and via Bolster Investment Partners), will participate in the future shows a great level of confidence in the markets we are in as well as the strategic direction of the company. Together we have decided to sell 40 percent of our holdings to a powerful financial partner who shares our values and focus on long-term development and can support add-on acquisitions.”
The participation in Ploeger Oxbo Group fits NPM Capital’s focus on the agri-tech sector, says Rutger Ruigrok, managing partner of the investment company. “Ploeger Oxbo creates innovative solutions for the agricultural sector that needs new technologies to be able to feed a fast-growing world population. It is a company with both great social value and strong growth potential – exactly what we are looking for.”
Ploeger Oxbo was advised by Nielen Schuman (financial) and DLA Piper (legal). NPM Capital was advised by Rabobank and Vondel Finance (financial) and Nauta Dutilh (legal).
For further information please contact:
Ploeger Oxbo Group
Mr. Niels Havermans
Tel. +31 (0)165 319 344
For North America:
Ploeger Oxbo Group
Mr. Gary Stich
Tel. +1 585 548 5120
About Ploeger Oxbo Group
Ploeger Oxbo manufactures a wide range of specialty agricultural equipment. The range of products includes harvesters for corn, peas, beans, potatoes, carrots, spinach, berries, coffee, grapes, olives, and self-propelled windrow mergers, sprayers and fertilizer applicators. This equipment is manufactured in seven locations in Europe, the US and Brazil and is sold through sales & service locations and through agents in more than 40 countries on all continents. The company, headquartered in Roosendaal, the Netherlands, has 700 employees worldwide and sales of over 200 million euro under its brands Ploeger, Oxbo, PMC and Bourgoin. The group establishes synergies towards product development and innovation, aimed at reliable, productive and cost-effective high-quality harvesting and application solutions that are supported by an extensive local service support and spare parts network.
About NPM Capital
NPM Capital supplies risk capital to medium to large-sized Benelux companies that focus on long-term value creation. Following from its ambition to be socially relevant, NPM Capital aims to respond with investments to long-term trends such as wellbeing, resource scarcity and the rise of technology. Being a part of SHV, NPM Capital has a flexible investment horizon and ample supply of capital, which allows it to focus on supporting the long-term value creation of its portfolio companies. The portfolio includes 26 participations, among them distributor of agricultural spare parts Kramp and animal genetics firm Hendrix Genetics.
About Synergia Capital Partners
Synergia, founded in 1999, is an independent Dutch investment company revolving around a network of successful Dutch entrepreneurs. It is the intention of Synergia to involve the entrepreneurs from its network in its investments. Synergia, together with VDL Participatie, has been a major shareholder of Ploeger Oxbo Group since July 2010 and she was actively involved in the merger of Ploeger and Oxbo in 2011 and the acquisition of Bourgoin in 2013. Examples of (former) investments of Synergia are Condoor Group, Elysee Dental, Cold Food (Van Dobben and Kwekkeboom), Pokon, Life & Mobility, Van Wamel, Boboli Europe and iPort.
About Bolster Investment Partners
Bolster Investment Partners is a long-term investor specializing in minority interests. Bolster invests in exceptional Dutch companies with a keen focus and a proven business model. Investors of Bolster are Van Lanschot Kempen and a select group of current and former entrepreneurs. Bolster is the fund manager of Bolster Investments Coöperatief and Van Lanschot Participaties. The shareholding in Ploeger Oxbo Group is part of the Van Lanschot Participaties portfolio.