Equistone Partners Europe, a mid-market private equity firm, has agreed to acquire Heras, the Dutch perimeter protection product company. The company’s management team will acquire a minority stake in the business. Heras will continue to be led by Gilles Rabot, who joined the business in 2015. The financial terms of the transaction are undisclosed and the acquisition remains subject to clearance from the competition authorities.
Founded in 1952, Heras provides mobile and permanent fencing, manual and automated gates, hostile vehicle mitigation barriers and electronic perimeter detection products. The company’s products are used in border control, military bases and critical infrastructure, schools and playgrounds. Its products can be specified to customer needs and supplemented with installation, systems integration, commissioning and maintenance and repair services. The company’s range of mobile protection products are primarily used to secure construction sites and events, with customers including construction companies, public authorities, event organisers, rental companies, distributors, wholesalers and installers.
The company has sales offices in the Netherlands, United Kingdom, Sweden, Norway, Germany and France. Its production facilities are in the Netherlands, Belgium, France, Sweden and the UK. Heras has over 1,100 employees and generates annual revenues of over 220 million euros. According to the new owners, Heras intends to grow by identifying potential add-ons in a fragmented market. The company also plans to grow organically by developing new products and services.
Hubert van Wolfswinkel, Director at Equistone, said: “We are very impressed by Heras’ leading position in the market, which it has achieved by having a strong European manufacturing footprint, long-standing customer relationships and a highly experienced management team.” Dirk Schekerka, Senior Partner at Equistone, added: “In partnership with Heras’ excellent management and employees, we will support the company’s continued growth trajectory and its expansion into new markets and regions.”
And Gilles Rabot, Managing Director at Heras, said: “We are delighted to have Equistone as a reliable and financially strong new partner. Having them on board will support our continued growth and enable us to expand our business. Together we will continue to develop and provide high-quality, innovative mobile and permanent perimeter protection solutions to meet the ever-evolving safety and security needs of the market.”
