Wolvertem, 22 July 2011 - Sarens, a world leader in the field of crane hire and moving extraordinary loads, has reached agreement with Waterland to invest EUR 100 million in the capital of Sarens over a period of 3 years. These resources will be used to provide further support to the international expansion plans of Sarens.
Sarens, which is based in Wolvertem, has shown impressive growth in recent years, whereby its turnover grew from EUR 122 million in 2004 to EUR 385 million in 2010. Today, the Sarens Group is active on every continent with more than 2700 employees, and is the world market leader in the area of moving extraordinary loads (known as heavy lifting projects). The group implements these large-scale, complex projects in various sectors such as oil & gas, energy (including thermal, on/offshore wind and nuclear), petrochemicals and mining.
In order to continue its international growth in the coming years, Sarens has drawn up an ambitious investment plan, consisting of opening new branches, investing in expanding its crane fleet, and focused takeovers. This makes it desirable to reinforce the group’s equity. The Sarens family, which is still the 100% owner of the group at this time, has therefore decided to allow an external party to invest in the company, which has resulted in an agreement with Waterland.
For Waterland, its investment in Sarens fits in with its strategy of supporting ambitious, successful family businesses in their growth. Waterland will contribute EUR 100 million from its fourth fund in the context of this transaction over a period of 3 years and will join the Sarens board of directors. The Sarens family, which was advised by Leonardo & Co. during this transaction, will retain the majority of shares.