Brand Industrial Services Announces Agreement to Acquire Venko Groep BV
Complementary core strengths provide broader range of services for customers
KENNESAW, GA, Aug. 16, 2017 (GLOBE NEWSWIRE) -- Brand Industrial Services, known as BrandSafway, has signed an agreement to acquire Venko Groep BV, a portfolio company of Mentha Capital. Venko will become a part of the Brand Energy & Infrastructure Services (Brand) group.
"We are very pleased to announce the agreement with Venko," said Bill Hayes, President and CEO of BrandSafway. "Our combined customers in Europe will benefit from a broader range of solutions and greater depth of expertise in access, insulation and coatings. Bringing Venko's highly specialized knowledge in coatings to BrandSafway will provide the expertise we need to expand our services in the offshore market worldwide."
Based in the Netherlands, with a focus on operations in the North Sea area, Venko is a leading offshore and onshore coatings maintenance provider in Europe. Founded in 1975, Venko has its headquarters in Hoogeveen, with branch locations in Arnhem, Den Helder and Ridderkerk in the Netherlands, and Great Yarmouth and Aberdeen in the United Kingdom. Employing up to 500 people in peak season, Venko specializes in the maintenance of coatings on steel structures - from offshore applications to civil projects and bridges.
"This is a perfect fit for both Brand and Venko," said Mick Herke, Vice President of Brand Energy & Infrastructure Services in Europe. "Venko has a highly experienced team with a great depth of knowledge in industrial coatings, which will complement the expertise that Brand has in access and insulation. We have worked together as partners on industrial jobs for several years and look forward to being on the same team."
The closing of this transaction is anticipated in the fourth quarter of 2017.
With a commitment to safety as its foremost value, BrandSafway provides the broadest range of services, products and solutions, with the greatest depth of expertise, to the industrial, commercial and infrastructure end markets. BrandSafway, a portfolio company of Clayton, Dubilier & Rice, has nearly $5 billion in revenue, approximately 32,000 employees and over 350 locations in 30 countries. With its global footprint, rigorous operating processes, and extensive service offerings - scaffolding and other work access solutions, insulation, coatings, specialty services, and forming and shoring - BrandSafway supports customers' maintenance, turnaround and refurbishment needs as well as new construction, capital-driven upgrades and expansion plans. Today's BrandSafway - large enough to leverage economies of scale to increase safety and productivity, while also nimble and responsive - delivering unmatched service with local labor and management.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4cd2239b-f326-4cee-9d2e-2d221c845468
Karla Cuculi, Vice President of Communications
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Safway Group via Globenewswire
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