Equistone to sell funds in Heras to Garda Group
James Thorpe
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European mid-market private equity investor, Equistone Partners Europe, has reached a conditional agreement to sell the funds’ investment in Heras to Garda Group.
New horizons for Heras
Netherlands-headquartered Heras has operations in eight countries across the globe.
The company offers customers in more than 20 markets end to end perimeter security solutions that cover all aspects, from design, manufacturing, installation to maintenance and repairs.
Heras is said to currently employ around 1,000 people and will become part of Garda Group, which operates in the Nordics and Germany.
Since Equistone invested in the business in 2019, Heras has pursued a strategic focus on providing high security solutions and recurring services to clients operating critical infrastructure.
This is supported by two bolt-on acquisitions in the Nordic and German markets.
“We share a strong alignment”
“It has been a pleasure for the Equistone Funds to have supported Heras with the strategic development of its business and its team over the past five years,” said Hubert van Wolfswinkel, Partner, Equistone.
“In partnership with the Equistone Funds, the company has refined its strategic focus on high security solutions and recurring services, while upgrading its production sites and delivering a comprehensive ESG strategy,” van Wolfswinkel continued.
“Heras is a renowned and expert provider of security solutions and I am confident that the company will continue to prosper as part of the Garda Group.”
Emmanuel Rigaux, CEO, Heras said: “In partnership with Equistone, Heras has undergone a significant transformation since 2019 and is now in an exceptionally strong position in the European market.
“We share a strong alignment with the Garda Group in terms of corporate strategy, vision and values and we are fully confident that they are the right partner to support us in the next phase of our development and continue the successful development of the past five years.”
“Provides us with new expertise”
“We are delighted to welcome Heras and its skilled team to the Garda Group,” added Jon Ola Stokke, CEO, Garda Group.
“Heras is a well-run, innovative company and our customers will benefit greatly from its recent investments in the capacity, quality and efficiency of its facilities.
“Heras also shares our focus on sustainability, working with partners throughout the value chain to reduce CO2 emissions and implement a more circular economy.
“This acquisition provides us with new expertise, a broader product range and modern technical solutions, while complementing our Nordic presence, expanding our footprint into new territories such as the UK, Benelux and France and providing our customers in Germany with perimeter security solutions alongside our existing technical security solutions.”
The agreed transaction is subject to certain closing conditions.