From corporate to private in five countries
In order to become the largest player in the hydraulic and pneumatic industry, Sophus Berendsen (Denmark) had acquired more than 200 companies in Europe, Australia and the USA. Its European activities were organised in five countries: Germany, the UK, France, the Netherlands and Belgium. Later on, the company found that integrating them proved to be more difficult than anticipated. The group was fragmented and performing inconsistently. Realising its urgent need for consolidation and streamlining, Berendsen turned to Nimbus.
Nimbus refinanced the companies and assigned a Nimbus manager to monitor the development of each unit who in the mean time started to work on improving their relationships with suppliers. A financial manager monitored the progress of the whole group, which was renamed Fluitronics. We focused on sales and marketing efforts. Overheads were reduced and investments were made in modern, standardised IT systems. We also analysed purchasing potential.
After a successful restructuring phase, Nimbus supported the Fluitronics companies in several add-on acquisitions to build positions in interesting areas. Thanks to its position in the oil and gas industry, the Dutch Fluitronics company Doedijns was able to grow successfully. Later, five Fluitronics companies were sold to their respective MT’s, backed by private equity. One company was sold to the Eriks Group.
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