AAC Capital and the management of Outdoor Living Group (“OLG”) – the holding company of Verasol – today have announced the acquisition of Gardendreams, an international manufacturer of aluminium verandas and garden rooms. Gardendreams will operate as an independent business unit under OLG, alongside to Verasol, which was acquired by AAC Capital and management in June 2017.
In 2018 Gardendreams realized EUR 17 million in sales and employed around 71 employees. Its headquarters and production facilities are based in Emsbüren, Germany. Custom-fit finished products are delivered through a strong and diverse dealer network, primarily in Germany and the Netherlands.
With this acquisition OLG expands its turnover to over EUR 50 million and becomes the largest manufacturer of residential verandas, garden rooms, glass sliding systems, and carports in Germany and the Netherlands. With both Verasol and Gardendreams and a strong market position in Germany and the Netherlands, management looks forward to accelerating its European growth strategy by leveraging the know-how, market coverage, synergies and scale that the two combined businesses will bring.
Aart Roos (CEO OLG): “With the addition of Gardendreams, we are solidly positioned to build and strengthen our market position in the growing and value added segment of European lifestyle and home-improvement. Combining two great brands with two qualitative and innovative product portfolios, bringing scale to our European based production facilities and serving a complementary customer base, will give us great momentum to further expand our value-added offering in the European marketplace”
Marc Staal (Managing Partner and Chairman AAC Capital): “This acquisition will considerably strenghten OLG’s position in the growing German market and AAC is very happy to support Aart Roos and his management team in their expansion strategy to make OLG one of leading European companies in its sector. This transaction illustrates AAC’s strategy of growing its portfolio companies and support management in their longer term plans.”
About Outdoor Living Group
Outdoor Living Group is the holding company that acquired Verasol in June 2017. Verasol was founded in 2001 and has grown to become a quality brand for outdoor living. Verasol produces residential verandas, garden rooms, glass sliding systems, and carports. In 2018 the company realized a turnover of EUR 34 million and employed ca. 120 employees. The company sells its wide range of value-added products in the Netherlands, Germany, France, Belgium, and Poland through its own store network, selected dealers and distributors.
About AAC Capital
AAC is a leading Benelux mid-market buy-out firm, which has to-date completed 34 management buyouts. It targets opportunities for majority stakes in profitable, cash-generative companies headquartered in the Benelux. AAC is a growth-oriented investor. Next to Outdoor Living Group it has the following companies in portfolio: Corilus, Yarrah, Oogwereld, Fysius, Hobré Instruments, Lubbers Logistics Group, and Savaco.
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