NASDAQ OMX

BrandSafway Announces Acquisition of Venko Groep BV

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Combined customers to benefit from broader range of services and greater depth of expertise

 

KENNESAW, GA, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Brand Industrial Services, known as BrandSafway, has acquired Venko Groep BV, a portfolio company of Mentha Capital, effective January 1, 2018. Moving forward, the company will operate as Venko, A BrandSafway Company and become a part of Brand Energy & Infrastructure Services (Brand) in Europe.

"We're excited to announce the closing of the acquisition of Venko," said Dave Witsken, President of Energy and Industrial for BrandSafway. "Venko is a leading offshore coatings maintenance provider for platforms in Europe. By leveraging the highly specialized knowledge and capabilities of Venko, we will be able to provide expanded coatings services to Brand's European customers. At the same time, with our support, Venko will now be able to offer their customers a broader inventory of access equipment and additional industrial services, such as insulation and fireproofing."

Based in the Netherlands, with operations in the North Sea area, Venko specializes in the maintenance of coatings on steel structures - from offshore applications to civil projects and bridges in Europe. Founded in 1975 and employing up to 500 people in peak season, 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.

"We have worked together as partners on industrial jobs for several years," said Andre Hofman, Managing Director of Venko, "and we look forward to being on the same team. Our combined customers in Europe will benefit from a broader range of solutions and greater depth of expertise in scaffolding, insulation and coatings."

"This is a perfect fit for both Brand and Venko," said Mick Herke, Vice President of Brand Energy & Infrastructure Services in Europe. "Bringing Venko's highly specialized knowledge in offshore coatings to BrandSafway will provide the expertise we need to expand our services in the offshore market worldwide." 

About BrandSafway
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 - delivers unmatched service with local labor and management.

 

 

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d41d372e-b8c7-4795-baab-afc22e8c4099

Karla Cuculi
BrandSafway
414-523-6580
Karla.Cuculi@safway.com

 




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BrandSafway via Globenewswire

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