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03/2021

GEVELELEMENTEN NOORD-HOLLAND acquired by ROYAL BAM GROUP

NETHERLANDS Chemicals & Materials / Building & Interior Materials / Wall & Ceiling Systems REV 1m EUR - 100m EUR

Context

Among the Dutch suppliers that BAM brought in-house in March 2021 was Gevelelementen Noord-Holland, whose Heerhugowaard plant assembles finished wall sections for housing. Royal BAM Group bought the company outright from its owners through its subsidiary BAM Bouw en Vastgoed Specials, on the same day as neighbouring joinery manufacturer Houtindustrie Stam & Landman. The two businesses shared a site, a managing director in Edward Zandbergen, a workforce of roughly 100 people and combined annual sales of around 20 million euros. Their relationship with the buyer predated the deal. Three years earlier, in 2018, the pair had put money alongside BAM into a bricklaying robot capable of finishing prefabricated facade panels with brick slips, a technique aimed at renovation work. Supplying BAM's residential division had already become a significant part of their order book. Dutch housebuilding was steadily moving indoors at the time, away from scaffolding and weather delays towards assembly lines where wall sections are built in controlled conditions. Owning the plant that makes those sections gave BAM direct control over a step it had previously bought in, and shortened the path between its own designs and finished panels arriving on site. The group framed the purchase as a way to put up sustainable, affordable housing at greater speed.

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Target

Based in Heerhugowaard, the Netherlands, Gevelelementen Noord-Holland produces complete prefabricated wooden facade elements for housing projects. It assembles the elements indoors at its own fabrication plant, combining timber frames, insulation, cladding and window joinery into finished wall sections that are delivered to building sites and fitted to the structure. It also clads prefabricated elements with brick slips using a bricklaying robot system, for both new housing and renovation work. Its customers are housebuilders and developers in the Netherlands.

Ent. Value

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Historical Financials (EUR)

Year
Rev
EBITDA
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2021
2020

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REFERENCES

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: royal bam group