Beers Elektrotechniek & Service is an electrical installation company from the Rotterdam region that focuses entirely on service and maintenance for housing corporations. The company consciously avoids new construction, which is unusual in this sector. By extensively digitizing its processes, Beers achieved margins that were far above the sector average. The company was led by Shirley, in a market where almost exclusively men are active.
The company had reached a size where two paths effectively presented themselves: continue to grow or stay as you are. Growing costs time and money, among other things for the internal organization, and not every entrepreneur has the ambition to lead a large organization. Shirley had been with the company for over twenty years and wanted to do something else with her life. Without a successor, selling became the logical route.
The challenge
This process had a history. A few years earlier, we guided the transfer from father to daughter, in which Maasdael assisted Shirley and her father with the valuation and securing financing. We remained in touch with Shirley, and during a cup of coffee a few years later, the possibility of a sale came up.
The substantive challenge lay in the margins. Beers structurally earned more than is customary in the sector, whereas many installation companies struggle to organize service and maintenance profitably. The fact that Beers did succeed was due to the structure of the organization, digitization, and deliberate specialization. Capturing that story convincingly in the equity story is the work of the advisor.
Beyond the deal
The first question was not how, but whether. Together with Shirley, we mapped out whether this was the right moment. She was relatively young and had just won the Rotterdam Businesswoman of the Year award: stepping down at your peak, which is often the best moment and which entrepreneurs usually choose too late. That simultaneously brings a point of tension, and we discussed that in depth with Shirley. A sale process should only be started when it feels right for the entrepreneur. We are there for the entrepreneur, not for ourselves.
Once that question was answered, the process went smoothly. Beers was sold to VDK Groep, an installation group that is growing rapidly through acquisitions. For the business, this means continuity and for the employees, room to grow: two of Shirley's former colleagues took over the leadership. Shirley herself became financially independent and left on a world trip with her partner.
The value of sector knowledge
The installation market is experiencing high M&A activity. Increasing regulatory pressure, the investments required for sustainability, and the shortage of technically qualified personnel make joining a larger organization attractive for many companies: knowledge, investments, and staff are easier to manage together. Additionally, succession is often lacking in the sector.
For installation companies facing these same challenges, this may be the moment to seek affiliation with a larger party. This gives the organization room to grow further and the entrepreneur the opportunity to look ahead once again.
