Acquisition of Dijkstra Vereenigde Bedrijven B.V. by IPG.

On 15 October 2020, Dijkstra Vereenigde, manufacturer and distributor of glass packaging and laboratory equipment based in Lelystad, was acquired by Gaasch Packaging, part of the Luxembourg family holding Industrial Packaging Group (IPG) (link). In the acquisition Dijkstra Vereenigde was assisted with legal advice by Marein Smits, Tim Carapiet and Onno Cusell of Wintertaling Corporate M&A.

Dijkstra Vereenigde has been active for over 100 years in the beverage, food, cosmetics and pharmaceutical packaging glass sector as well as drinking glasses to the hospitality industry and retail chains. Its laboratory equipment department supplies, among other things, centrifuges, drying ovens, rotary film evaporators, refrigerators, shakers and A-brand ultrasonic baths to laboratories throughout the country. Together, the two divisions account for a turnover of approximately €23 million.  With the acquisition by IPG, the group is expanding further in the Benelux. In addition to IPG, the two directors and employees will retain a (minority) share in Dijkstra Vereenigde.

Dijkstra Vereenigde’s packaging machines division was recently sold and will continue under the name Fuji Packaging Benelux. Dijkstra was again advised by Marein Smits and Tim Carapiet.

 

 

Wintertaling joins Capital Tour Online 2020!

Wintertaling is a proud partner to Capital Tour Online 2020!

Capital Tour Online 2020 connects startups and investors, to make sure that amazing ideas can prosper! This Tuesday 30 June 2020, we will be guiding startups to meet investors.

Check out the program on https://www.capitaltourxxl.com/program/ .

Want to join? Get you tickets here: https://www.eventbrite.nl/e/tickets-capital-tour-online-105418692146?mc_cid=0b959a8b83&mc_eid=54cc099fbd

Can you break off M&A negotiations in the Netherlands? The nuclear option

Recently, the NCC (Netherlands Commercial Court) gave a judgement on broken off M&A negotiations as a result of the COVID-19 crisis. The Court denied the claim to carry on with completing the transaction and allowed the claim for the break-up fee, despite defendants invoking unforeseen (COVID-19) circumstances.  

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Emergency legislation: possible issues relating to general meetings

On 3 April last, the Ministry of Justice and Security announced emergency legislation: “to solve practical problems arising from the corona crisis.”

Part of this emergency legislation is that the management board may determine that the general meeting may only be followed via livestream, subject to the condition that members and shareholders can submit questions during the meeting or in advance, which will be answered no later than at the meeting itself.

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What are the consequences of the coronavirus (COVID-19) for entrepreneurs?

The effects of the coronavirus can currently be felt all around the globe. Great uncertainty about the duration of measures concerning the virus and ever more stringent measures cause many questions among entrepreneurs. Frequently asked questions are:

Picture Laura – Del, CC https://www.flickr.com/people/20519310@N04/.
  1. Can I invoke force majeure if I am unable to comply due to these circumstances?
  2. Can I invoke unforeseen circumstances if I am unable to comply due to these circumstances?
  3. Does an agreed penalty clause apply in the given situation?
  4. Does the insurance cover damages which result from closing a business or cancelling events due to the coronavirus?
  5. Can I still hold a shareholders’ meeting after the call for social distancing and the ban on assembly?
  6. What is the effect on me as a buyer in a business acquisition?
  7. To what extent can I, as an entrepreneur, rely on support measures from the Dutch government?

Below, we try to answer these most frequently asked questions concerning a company and the coronavirus. If you have any further questions about your specific situation, contracts or other questions about the legal consequences of the coronavirus, we will be happy to help you. Please feel free to contact Wintertaling Advocaten & Notarissen.

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Sympower raises €3 million in Series A funding round

Sympower raises €3 million in Series A funding round

Sympower, an international scale-up driving the energy transition, has raised €3 million in a Series A funding round from Dutch investment funds Social Impact Ventures and Participatiefonds Duurzame Economie Noord-Holland (PDENH), current investors and team. The investment will fund international growth in order to maximise the impact on electricity systems across the globe. The goal is to become the leading global platform for providing sustainable, distributed balancing services to the electricity system. Remaining an independent player on the different energy markets will continue to allow for fast and unrestricted scaling of services and partnerships.

Sympower provides cost-effective and sustainable balancing services to the electricity grid. The Sympower software platform responds to fluctuations in the supply and demand of electricity grid in milliseconds, by regulating the consumption or generation of electrical installations across multiple industrial and commercial sectors, while taking care not to interrupt primary processes.

Sympower was advised by Tim Carapiet from Wintertaling advocaten en notarissen.

Press release:

 

Holland Capital invests in Valori

Holland Capital invests in Valori

Investment company Holland Capital has acquired a majority interest in Valori, the largest independent software testing and quality assurance player in the Netherlands. With the chosen strategy, Valori wants to further strengthen its position in the field of software testing and quality assurance and achieve a turnover of approximately EUR 50 million.

Valori was founded in 1989 and is based in Utrecht. Valori tests new computer systems or modifications to existing systems. With more than 200 specialized professionals it has knowledge of a large number of sectors, tooling and software platforms. Valori supports its clients in the architecture, testing and monitoring of software implementations. Valori has been a client of both AM and BM at the Utrecht office for many years. There has been extensive cooperation between the three departments.

Holland Capital is one of the first independent private equity firms in the Netherlands. For more than 35 years, they have been investing responsibly and successfully in promising Dutch SMEs with growth ambitions. With a clear investment strategy, they respond to long-term trends in attractive growth markets, focusing on Healthcare and Technology.

Valori was advised by Marein Smits from Wintertaling advocaten en notarissen.

Press releases:

 

Event GO!-NH – 8 May 2019

Event GO!-NH – 8 May 2019

On Wednesday 8 May we will host another meeting of GO!-NH. GO!-NH is an accelerator programme of the Province of Noord-Holland and Innomics. The program accelerates start-ups and innovation teams of large organizations in a three-month program, from an idea to a company that is ready to storm the market with innovative solutions. They receive training, tools and professional support from experts including Wintertaling.

Nine teams will visit us. They will start in the morning with a workshop given by Tim Carapiet from Wintertaling and Rutger Kemper from Leapfunder. In the afternoon there will be intakes that will be joined by four more external organizations. The day will end with a drink in our bar.

More information: https://www.noord-holland.nl/Onderwerpen/Economie_Werk/Projecten/GO_NH

 

Wintertaling advises Lexington based PE Watermill Group on Dutch part of acquisition of Enbi

 

Read here the full article.