The Food & Agri sector

Food & Agri Fund focus and method

Our values Investment focus Approach

Our values

Reciprocal

Reciprocity is that you treat another person the way you want to be treated yourself. Respect for mutual interests is the starting point. We do not enter into unilateral agreements in which only one party maximizes its profit. No big contracts and legal tricks. We always go for win-win situations.

Long-term oriented

Sustainability is a trend, but actually acting sustainably is a challenge. This means, among other things, that we take the tension between (short-term) financial results, employee development and environmental responsibility seriously. Only then will sustainable value creation be created, also for investors. We want to be able to account for our deals to future generations.

Transparent

Being transparent starts with accountability. We are vulnerable in this respect. Do not use a hidden agenda, but be direct and open. This means that we also admit mistakes when we make them. Transparency promotes long-term relationships.

Collaborative

Successful organizations are characterized by flexibility and innovation. You can only achieve this together. This means that everyone must be involved, there must be targeted and broad communication where contradiction is a source of inspiration. This way you build trust and commitment.

Investment focus

Branch

The Anders Invest Food & Agri team feels at home with companies that have a focus on processing and production of food and feed, possibly in combination with services and trade. Based on our broad experience, we can quickly pinpoint the challenges that these companies are facing. We have a strong track record in shaping and accelerating growth in a broad range of (international) companies.

Type of entrepreneur

We are committed shareholders and think long term. We work from our values and consider it important to keep talking about this with the entrepreneur. We would like to work with enthusiastic entrepreneurs who want to work with us on value-oriented growth. That is why we do not participate in auction-like bidding situations.

Size

We focus on companies with more than 15 employees and / or a turnover of more than € 10 million. We provide risk capital from € 1 million to approximately € 50 million (including co-investment volume) to companies with an enterprise value of up to approximately € 250 million (both majority and minority interests). This means that our focus - depending on the valuation - is suitable for companies with an EBITDA level of a maximum of € 30 million. Start-ups and early stage investments do not match our focus and expertise.

Approach

Relationship

It starts with an introductory meeting, preferably at the company‘s location. When there is a click and there is mutual trust, the process starts. We immerse ourselves in your company and your market. It is important to us how you work and with whom you work. We will be involved for a long time, so the foundation must be good.

Interest

We provide venture capital - from € 1 million to € 50 million - and aim to acquire shares (minority or majority). We invest with our own resources and with money entrusted to us by third parties. In addition, we have a long investment horizon of at least 10 years.

Influence

We are looking for influence and not for power. We gain influence on business operations through our know-how and involvement. We draw up our cooperation contracts with a low legal profile. We limit ourselves to the essentials and we don‘t want to make money with legal tricks. Our extensive network also opens a number of extra doors.

real estate

12/07/2021

real estate

22/07/2021

real estate

06/10/2021

Food & Agri

07/10/2021

Brabant Groep acquires Euroblast

Brabant Groep from Oosterhout, part of the Industriefonds of Anders Invest, has acquired the shares of Euroblast N.V. from Belgium. Brabant Groep focuses on corrosion prevention projects for various sectors such as tank construction, steel construction, petrochemicals, civil engineering, utility construction, shipbuilding and energy. Euroblast is located near the port of Antwerp and specializes in blasting and preserving steel plates for shipbuilding, tank construction, offshore applications and industry and works for Belgian, European and intercontinental customers. With the acquisition of Euroblast, Brabant Groep obtains greater geographical coverage and can serve its customers more widely. In addition, synergies can be achieved through more efficient business operations, improved use of the various locations and the sharing of logistics, facilities and work processes. Euroblast will continue to operate under its own name. This is the second expansion for Brabant Groep this year. In June, a merger between the Brabant Group entity Straco Heerenveen and Staal Technische Centrum Noord-Nederland (STC) was realised. Straco Heerenveen is active in the field of wet painting and powder coating. STC is active in blasting and wet coating applications. In time, the facilities will be expanded with a new aluminum coating line.

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industry

08/10/2021

Acquisition Lieverdink

Anders Invest Groeiplatform, part of the industry fund, realized a 100% participation in Lieverdink from Doetinchem on 7 October 2021. The company manufactures parquet floors and is the market leader in the Netherlands in the field of tapestry floors. Lieverdink employs approximately 25 permanent employees. It is Anders Invest's 24th participation in its industry fund. Lieverdink, a family business founded in 1986 in the Achterhoek, produces high-quality traditional parquet floors. Strips, herringbone motifs and patterned floors are produced from more than 30 types of wood. In addition to traditional parquet, Lieverdink has developed its own line of two-layer parquet (Q2) specifically for use in combination with floor heating. In Doetinchem, the company has several production lines where the parquet is machined from raw planks. The company is a benchmark in the parquet industry and counts more than 800 parquet fitters among its clientele. This ensures that Lieverdink is able to realize a stable turnover with good results. The shares in Lieverdink have been taken over from the current owners, Gerben and Eric Lieverdink. The parquet factory was founded by their parents and they have been involved in the company from an early age. Gerben and Eric will remain associated with the Parketfabriek as directors for the foreseeable future. With them continuity is guaranteed and Anders Invest sees an attractive growth perspective due to the strong developments in the housing sector and opportunities in the field of internationalization.

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industry

10/10/2021

Anders Invest acquires Bincx

Anders Invest has acquired a 60% participation in Bincx from Kootwijkerbroek. The company engineers, produces and installs steel structures for non-residential construction. Bincx has a turnover of approximately € 80 million and employs more than 100 permanent employees. Bincx was founded in 2001 and has since grown into one of the larger players in the Netherlands in the field of steel structures for industrial real estate and utility construction in various applications such as production halls, offices, schools, logistics real estate and agricultural applications. The company operates from production and assembly halls at various locations in the Netherlands. The German market is served from Gronau. Bincx has an engineering department, production with CNC machine lines, a large number of mobile cranes and its own assembly teams. In addition to mounting the steel structures, prefab concrete walls and sandwich roof and facade elements are also mounted. The culture is innovative, with an average of young employees, and there is room for new ideas and self-organization. The company's customer base consists of established (international) construction companies and contractors in the Netherlands, Belgium, France and Germany. Bincx also works with a number of Dutch system integrators who deliver turnkey projects in emerging markets. Anders Invest acquired its interest from founder and director Wilco van den Brink. Mr. Van den Brink will retain a 40% interest and, together with the management, will continue to work actively to achieve further growth and professionalize the organization.

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industry

21/10/2021

real estate

16/12/2021

industry

21/12/2021

Investment in Geraedts Ijzergieterij

On December 30, 2021, Anders Invest realized a 60% participation in Geraedts IJzergieterij from Baarlo. The company manufactures castings from lamellar and nodular cast iron. Geraedts employs approximately 20 permanent employees. It is Anders Invest's 26th participation in its industrial fund. Geraedts, a North Limburg family business founded in 1935, produces castings from lamellar and nodular cast iron for the mechanical engineering, automotive and maritime industries. The company is a hand-moulded foundry specializing in small series up to 16 tons. In the factory in Baarlo, melting is done by means of electro-induction furnaces, which leads to a process with a significantly lower CO2 footprint than using traditional gas cupola furnaces. Geraedts serves customers in the Netherlands, Germany and Belgium from Baarlo. By supplying high-quality products, a diversified customer base and by being a reliable and flexible partner for its customers, Geraedts has proven to be very stable and profitable. The Geraedts family will continue to play a key role within the company. Jan Geraedts, former chairman of the trade association and icon in the sector, will retire from the company in view of his age. He conducted the management together with his son Bart, who will remain as general manager. His cousin Mike Geraedts will join the board. Anders Invest, as a partner with a long-term focus, will continue to build the future of Geraedts IJzergieterij together with the family. The trend of local sourcing, demand for increasingly high-quality products and focus on product and customer diversification lead to attractive growth prospects.

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industry

31/12/2021

Food & Agri

26/01/2022

Food & Agri

08/02/2022

real estate

14/02/2022

real estate

16/02/2022

real estate

17/02/2022

Start Roderik as investment manager Food & Agri

As of March 1st, Roderik Bronkhorst (1987) has joined the Anders Invest Food & Agri team as an Investment Manager. He has 10 years of experience in international M&A and corporate finance at Rabobank and Chestnut Corporate Finance. During this time, he was predominantly focused on advising companies in the Food & Agriculture sector. Roderik holds a bachelor’s degree in Economics & Business Economics from Utrecht University and a master’s degree in Financial Economics from Erasmus University in Rotterdam. Together with Evert Hein Schuiteman, Theo van Stuijvenberg and Jurjen van der Werf, Roderik will continue building the Anders Invest Food & Agri Fund

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Food & Agri

07/03/2022

Anders Invest seeks € 100 million capital round

Anders Invest is growing rapidly: with 25 employees, 18 transactions have been completed in 2021 and a large number of investments are still in the pipeline. Major capital rounds will start in April at the corporate funds in industry and food & agri and the property fund for rental properties. The recruitment target amounts to a total of approximately €100 million in new capital. Value development in the two large, longer-established industrial and rental housing funds is good and the dividend paid has also increased. The 25 companies in the industrial fund have been hit by the commodities crisis, parts shortages and inflation, but are showing resilience. Despite the turbulence, 2021 was closed with a total performance of 13.9%. The expected effects of the Ukraine war have been included in the valuation in individual cases. Since its inception at the end of 2015, the fund has achieved an average return of over 15% per year. The portfolio companies paid more dividends to the fund, which allowed the dividend to be increased to investors. The industry fund will then have realized an average payment of 8% per year over a period of 7 years. The unique approach and network in the manufacturing industry provide access to new investment opportunities, increasingly as an addition to existing companies. Multiple opportunities are at an advanced stage, kicking off the 9th capital round with a recruitment target of €35 to €40 million. One of these projects is the acquisition of a well-known Dutch consumer products manufacturing company with a turnover of more than €100 million. This will lead to the establishment of a 3rd co-investment fund, for which recruitment has also started. The rental housing fund, the second largest fund of Anders Invest, also developed well. Satisfied tenants and low vacancy rates ensure good operational results. The fund's total performance in 2021 is over 17%. This brings the average performance since the start of the rental housing fund in autumn 2017 to more than 12% per year. Here too, a significantly higher dividend is paid, bringing the average dividend since the start to more than 3.3% per year. The fund recently invested in more than 600 largely new homes in Groningen and Harderwijk that will be built in 2022 and 2023. The purchase price and the expected return on these new projects are good, which means that an investment in the 6th capital round that has now started has an attractive return/risk profile. The recruitment target is between €25 and €30 million. The food&agri fund, which was launched in 2021, has so far made five acquisitions, mostly in the field of healthy and sustainably produced food and animal feed. The most recent investment by this corporate fund concerns Service2Fruit, an online platform for the auction of fruit and vegetables. It offers complete transparency for top fruit online, making it easier for supply and demand to find each other. The fund, which is less than 1 year old, realized a value increase of almost 5%. The team has been expanded with two colleagues so that we can work together with the companies on growth and returns, both financially and in the field of sustainability and social impact. There are currently two promising propositions in the due diligence phase. Further acquisitions are expected in the course of the year and therefore the fund is starting to raise for the 2nd capital round of €15-20 million. Registrations for these 3 capital rounds and the co-investment opportunity close at the end of April. Another round of capital is expected to be launched at the healthcare real estate fund around the summer.

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industry

06/04/2022

Food & Agri

15/04/2022

Directors‘ Day 2022

On Wednesday 11 May 2022, the annual Directors' Day of the Anders Invest Industriefonds took place again. An extraordinarily inspiring and energetic day in Maarsbergen where all directors / MTs of the portfolio companies were invited. There were approximately 70 participants. We talked about sustainability, employee development and diversity. Especially themes related to people and planet. Companies shared challenges and solutions with each other. Despite (or perhaps thanks to) the different end markets in which the companies are active, challenges are very similar and a lot is learned from each other. 

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industry

17/05/2022

Anders Invest signs 100% participation Royal Leerdam - Crisal

Anders Invest has signed an agreement to purchase a 100% participation in Royal Leerdam and its affiliated company Crisal – Cristalaria Automática S.A.  The companies manufacture table glass for the European market from the Netherlands and Portugal( under the Royal Leerdam and Crisal Glass brands, has a turnover of approximately € 120 million and employs more than 600 employees in the Netherlands and Portugal.   Glass has been produced in Leerdam since 1765. With the arrival of the glass factory in 1878, Royal Leerdam was founded.  With the Crisal factory in Portugal, founded in 1944, Royal Leerdam has grown into a strong player in the European market of table glass.  The company operates from the production site in Leerdam in the Netherlands and Marinha Grande in Portugal.  In addition, the distribution center is located in Gorinchem. Royal Leerdam and Crisal serve customers in retail, wholesale and hospitality throughout Europe, Australia, India, New Zealand and the Middle East.   Anders Invest has acquired its interest from Libbey Glass LLC.  Libbey has decided to divest its European activities in order to strategically prioritize and expand its business within its core markets, especially the Americas. The closing of this transaction is anticipated to occur at the end of this month. Following the close of the transaction, Libbey and Anders Invest will maintain an ongoing commercial relationship, including uninterrupted access to products and other support.  

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industry

18/05/2022

We are always looking for new investments and investors.

Investors can subscribe to the fund during new fundraising rounds. Depending on deal flow, we organize one to two fundraising rounds per year, in which both new and existing investors can participate with a minimal initial investment of € 100.000. 

 

As investor, you will be part of a fund cooperation, which is a typical and fiscally attractive structure for private equity funds. This means that it is possible to take advantage of the participation exemption, also for smaller investments. It is possible to exit the fund by selling fund participation shares to other investors. Anders Invest facilitates this process so that it does not have to sell companies or real estate. 

 

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