MerweOord announced the acquisition of a 20% stake in IQIP

11 Aug MerweOord announced the acquisition of a 20% stake in IQIP

MerweOord entered into an agreement (11 August 2023) with HAL Investments B.V. (‘HAL’) to acquire 20% in IQIP Holding B.V. (‘IQIP’) for c. €50 million euros. Simultaneously, Ackermans & van Haaren will acquire 40% of IQIP. Over the course of 2024 MerweOord has the option to increase its shareholding to 33.33%. If exercised, HAL, AvH and MerweOord will each own 1/3 of IQIPs shares.

The transaction is subject to various closing conditions, including regulatory approvals. IQIP, AvH, HAL and MerweOord will work together to obtain all necessary merger clearances. It is expected that completion of the transaction will occur early 2024.

Robert Diepenbroek, CEO of IQIP says “IQIP is one of the key players in the energy transition being a specialist in foundation techniques for offshore wind turbines. This growing and important sector, given the many initiatives in the North Sea, is key for a more energy independent Europe.

About MerweOord
MerweOord is the family holding which holds 78.5% of the shares in Van Oord N.V., the Dutch company focused on marine technology. Van Oord is specialized in land reclamation, maritime infrastructure, coastal protection, offshore wind and many more adjacent Offshore activities.

About IQIP holding
IQIP designs and assembles hydraulic hammers and other (sets of) piling, handling, lifting and subsea guiding equipment that are leased or sold globally across three core markets: Offshore Wind, Coastal & Civil and Oil & Gas. In addition, the company has growth ambitions in related (innovative) offshore markets such as decommissioning of oil & gas platforms.

Within Offshore Wind, its largest segment, IQIP offers crucial services such as pile-driving solutions, noise mitigation systems, and tools for lifting, upending, gripping and guiding. Since its carve-out from IHC in March 2023, the company is making significant investments in its equipment fleet to prepare for the forecasted double digit growth in the offshore wind energy market.

IQIP is headquartered in Sliedrecht, the Netherlands, and employs approximately 300 employees worldwide. In the challenging year 2022, the company realized a turnover of 102 million euros (159 million euros in 2021) and an operating cash flow (EBITDA) of 30 million euros (56 million euros in 2021).