Sale of VVGN activities to Festina Lente

Sector(s)
Consumer
Deal type
Sell your business
Date
January 2021
Countries involved
Benelux

Client

VVGN is a leading provider of services in the field of safety training in traffic

Deal

Capitalmind has assisted management and advised the shareholders of VVGN on the sale of earmarked activities to Festina Lente (Dontje family office, Quote 500)

Parties

Lead team

  • Jan Willem Jonkman

    Jan Willem Jonkman

    Managing Partner Benelux
  • Martijn Franssen

    Martijn Franssen

    Senior Advisor Benelux

About the deal

Verkeersveiligheid Groep Nederland (VGN) has been sold to Festina Lente, the investment arm of the Dontje family office. VGN is incorporated in a relative complex legal and financial holding structure, including multiple interdependencies through several current accounts.

The shareholder of the holding asked Capitalmind to de-complex the set-up. Through an asset deal the carve out was realized successfully. Upon completion hereof, the holding was able to settle most interdependencies and was finally able to clean up the structure, as Eric Tolboom, CEO of the holding declared.

Capitalmind experienced that shareholder was willing to accept the first offer in this process. By careful continuation of negotiations, buyer was encouraged to improve its first offer significantly. The proceeds from the transaction were finally way above the initial expectations of selling shareholder.

What we did

Capitalmind advised the shareholders of Verkeersveiligheid Groep Nederland throughout the sell-side process, with:

  • Documentation and verification of financial carve out of relevant assets;
  • Preparing accessible information;
  • Advising on final structure of transaction;
  • Price negotiations;
  • Managing due diligence;
  • Coordinating legal documentation phase.