Bencis acquires majority stake in Cadac Group, LIOF supports acquisition
Investment company Bencis acquires a majority stake in automation company Cadac Group from Heerlen. Bencis acquires a total of approximately 70 percent of the shares from founder Jan Baggen and from development company LIOF, co-shareholder since 1998.
Jan Baggen will remain as CEO and will retain a quarter of the shares through his holding company TwinPort. In addition, a small portion will remain in the hands of management and several key employees, including CTO Paul Smeets and CFO Astrid van de Sande.
"Bencis is the best option for Cadac," says Jan Baggen, who founded the company in 1986 and built it into a leading automation company with a turnover of more than €66 million last year and nearly 200 employees. "By choosing a private equity firm, the changes will be minimal; only the ownership structure of Cadac Group Holding will change."
Development company LIOF, a committed investor, shareholder, and partner of Cadac Group for more than 25 years, has expressed its support for the takeover by investment company Bencis. "We wholeheartedly support this takeover," says Siska van Houdt, Investment Manager at LIOF. "Our collaboration with Cadac dates back to the period when LIOF was actively investing in the then emerging ICT sector. Cadac has since grown into a leading Limburg company within the ICT sector. The acquisition by Bencis strengthens the foundation for the future. Cadac will retain both its international position and its regional ties with Limburg."
Cadac is one of Autodesk's largest partners in the Benelux, Germany, and Southern Europe. The company helps customers in the manufacturing industry, construction, and government achieve their digital transformation with Autodesk and Cadac software and related services. "With this transaction, we are safeguarding Cadac's independence, continuity, and identity," Baggen emphasizes. "This is not just a financial transaction, but also about our people and the resources to continue investing and growing."
Bencis is a Dutch independent investment company that invests in medium-sized, successful companies in the Netherlands, Germany, and Belgium. Bencis now has 32 companies in its portfolio with a combined turnover of €2.5 billion and over 13,000 employees. The company supports entrepreneurs in realizing their growth ambitions, with a focus on committed entrepreneurship and sustainable value creation. "We look forward to supporting Cadac in its growth," says Jacob Versteeg of Bencis. "We have great confidence in the team and in the further development of the company."
For more information and the press release, visit the Cadac website.
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