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10/2026100%Add-on / Bolt-on

VDK Telecommunications acquired by NCIM

NETHERLANDS Aerospace, Naval & Defense / Electronics REV 1m EUR - 100m EUR

Context

NCIM acquired VDK Telecommunications in October 2026, with the former owners and chief operating officer Bas Kesselaer keeping a shareholding in the enlarged group. The purchase followed NCIM’s acquisition of the engineering company Ndus3 the previous year. Based in Wijchen and trading for more than thirty years, VDK builds the systems through which armed forces, police and emergency services communicate. It develops, integrates and supplies radio and network equipment, signalling systems and cameras, and supports them afterwards, work that has to function when ordinary networks are unavailable or deliberately jammed. Its customers are defence and security organisations and public bodies. It has extended into two newer fields. The first is counter-drone work: detecting unmanned aircraft over prisons, airports, power stations and public events, and disabling them by electronic means, a requirement that barely existed a decade ago. The second is indoor positioning, locating people and equipment inside buildings where satellite signals do not reach, using its own mesh network of low-energy Bluetooth beacons that runs without Wi-Fi or an internet connection, already installed in hospitals and care homes. NCIM, based in The Hague, supplies security-cleared IT professionals together with software and cybersecurity for the same customers, employing more than 575 people on assignments for defence, security, government and aerospace. Its clients increasingly ask for complete systems rather than components, and the two companies meet in projects where communications, information and security have to work together. The clearances matter as much as the engineering. Work of this kind requires staff vetted by the state and companies approved to handle classified material, neither of which can be arranged quickly, which is why both parties bring something the other cannot build.

VDK Telecommunications, which reported an EBITDA margin of [members only] in 2026, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Industry & Manufacturing sector (11.7x in 2026).

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Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2026
€1–100M
[members only]
[members only]
2025
€1–100M
[members only]
[members only]

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REFERENCES

Revenue range: REV 1m EUR - 100m EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of VDK Telecommunications by NCIM are reserved for mynth community members. Register for free to unlock full data.

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

Target: vdk telecommunications

Acquirer: ncim

FAQ

What transaction does this page cover?

This page covers NCIM’s acquisition of 100% of VDK Telecommunications, a Dutch company specialised in Electronics, in 2026, as an add-on transaction expanding an existing business platform.

How does the valuation of VDK Telecommunications compare to benchmarks in the Industry & Manufacturing sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. Nevertheless, transactions tracked by mynth in this sector reveal an average benchmark multiple of 11.7x EBITDA during 2026.

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

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