Investment network Entrepreneurial Capital acquires majority stake in Wipro
Investment network Ondernemend Kapitaal has acquired a majority stake in Wipro, a manufacturer of glass system walls and movable partitions under the brand name Askon Systeemwand. takeover enables Wipro to continue its activities and develop them in a targeted manner, supported by the knowledge, experience and network of Ondernemend Kapitaal.
Growth step in the production sector
Wipro is based in Winterswijk and supplies system walls in various colors, designs, and materials. The sales and installation of these products are handled by a large number of finishing companies throughout the Netherlands. Two of the three shareholders were approaching retirement age, which prompted careful consideration for the transfer of the company. Thanks to the involvement of Ondernemend Kapitaal, Wipro will continue to operate from Winterswijk, maintaining quality, continuity, and room for growth.
Investor network for SMEs
Ondernemend Kapitaal is a collective of pragmatic entrepreneurs and investors, founded by Match Plan and accounting firm De Groof (now Flynth). The group focuses on strengthening SMEs and family businesses by contributing knowledge, entrepreneurship, and capital. Ondernemend Kapitaal has previously invested in companies including furniture manufacturer De Esdoorn, talent organization Inventus, and IT company L'Unité.
Match Plan as an advisor in the purchasing process
Match Plan guided Ondernemend Kapitaal throughout the entire acquisition process. Based on Ondernemend Kapitaal's investment criteria, a proactive search was conducted for a suitable acquisition candidate, with Wipro emerging as a promising proposition.
Match Plan provided the initial business analysis and valuation, stated a indicative bid on, guided the entire negotiation process and recorded the agreements in the letter of intent. Also the due diligence investigation, the preparation of the legal documentation and the structuring of the financing were coordinated by Match Plan. The deal team consisted of Erik Smidt, Niels Ansems, and Reg Schreurs, who successfully completed the process, even during the challenging market conditions of the coronavirus period.
Deal team:
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