Press Release
20 April 2018
AAC Capital invests in Kortrijk-based IT service provider Savaco
Antwerp, April 20th, 2018 – AAC Capital ("AAC") and Savaco NV ("Savaco") announce that AAC invests in Savaco NV to support the company in its next phase of growth and to facilitate family succession.
Savaco is a Belgian IT service provider specializing in solutions with impact that have clear strategic advantages for its clients. Carl Sabbe and Rik Vandemoortele, founders of Savaco, retain a minority stake and will, as CEOs, continue to focus on customer satisfaction and quality of service offering. Together with AAC, they plan to continue developing Savaco into a leading IT service provider that distinguishes itself through its know-how, experienced team, excellent service level and vision. This partnership also enables family succession, and preserves the company’s continuity, corporate identity and values.
Since its foundation in 1991, Savaco has grown into a professional IT service provider with 130 employees with a loyal customer base and a strong reputation in Flanders. Savaco provides tailor-made solutions and assists Belgian businesses with the development of complex IT infrastructures, software for product development processes, implementation of IoT technologies and business productivity solutions (a.o. document management, BI, efficient communication platforms).
Savaco is AAC’s third Belgian acquisition. Savaco aligns perfectly with AAC's strategy to support local champions in realizing their growth ambitions.
Degroof Petercam Corporate Finance assisted the shareholders of Savaco in this transaction.
CEO’s Savaco Carl Sabbe en Rik Vandemoortele:
It was extremely important for Sabbe and Vandemoortele that both ambitions and culture matched with the new partner. CEO Carl Sabbe: "A key criterium in the selection of AAC was the preservation of Savaco's corporate identity, approach and values. We are absolutely convinced that AAC's input, drive and expertise will enable us to achieve our ambitious goals."
The Kortrijk-based IT company and AAC intend to continue investing in comprehensive solutions and service offering. CEO Rik Vandemoortele explains: "This collaboration allows us to maintain our long-term continued growth case and to remain the experienced guide and preferred IT partner for our clients. We want to further strengthen our services portfolio in order to support our clients in their digital transformation, enabling us to realise an even better and stronger Savaco for our clients and employees.”
Maurice Bronckers, Managing Partner of AAC, says:
“We are very excited to work with the Savaco team in the next growth phase. Carl Sabbe and Rik Vandemoortele, together with their team, have developed a strong company with an impressive product and service portfolio with a core focus on high quality service offering to its clients. We will optimally leverage our network and expertise to guarantee a continued impactful, high quality service offering for Savaco’s clients.”
Ends
Notes to editors
About Savaco
Savaco was founded in 1991 and has grown into a reputable IT service provider, located at the Beneluxpark in Kortrijk . As a full-service professional IT service provider, Savaco realizes a turnover of € 30 million and relies on the expertise of 130 highly qualified and enthusiastic employees. Savaco has more than 250 active and reputable customers in the industrial and services sector.
Contact Savaco: Rik Vandemoortele, tel +32 (0)56 260 361
About AAC Capital
With offices in Amsterdam and Antwerp, AAC is a leading Benelux mid-market buy-out firm, which has to-date completed 32 management buy-outs, of which 26 have been realized. It targets opportunities for majority stakes in profitable, cash-generative companies headquartered in the Benelux. AAC’s deal size is typically between € 10 and € 150 million, and it currently invests from its third, Benelux-focussed fund. AAC is a growth-oriented investor, with current portfolio companies Corilus, Yarrah, Verasol, Lubbers Logistics Group and Hobré Instruments.
Contact AAC Capital België: Hans Van de Velde, tel +32 (0)3 222 45 04