VDK GROEP acquired by LGT CAPITAL PARTNERS, EMK CAPITAL & EQT PARTNERS

Coller EQT and LGT Capital Partners co-led a single-asset continuation vehicle allowing EMK Capital to extend its ownership of VDK Groep, the Dutch technical installation services group. The VDK Partnership Fund closed at its hard cap of 1.25 billion euros on 15 October 2026. It gave the existing investors the choice between realising their holding and staying exposed to the company through the new vehicle, and brought in fresh capital to fund its acquisition pipeline and its expansion across Europe. EMK Capital had backed VDK Groep since December 2020, when it bought a majority stake from the founder, who reinvested alongside it, and when the company generated around 5 million euros of EBITDA. By June 2026, pro-forma last-twelve-months EBITDA had reached €250–500M, after 103 add-on acquisitions, a roughly doubled EBITDA margin and an improvement in cash conversion from about 70% to about 100%. The largest of those purchases was Builtech, the German technical installation services group bought in November 2025 for 543 million euros, which took VDK beyond the Netherlands into Germany, Austria, Switzerland and Sweden. At the time of the transaction, VDK Groep operated through more than 150 specialist companies across electrical and mechanical installation, climate technology, building intelligence and security, and employed 7,000 people.

Previously, Vdk Groep had completed the acquisition of Builtech Group in 2025 as part of its consolidation strategy.