Gimv sells its majority interest in ICT service provider OGD

After more than five-and-a-half years, Gimv has sold its majority interest in ICT service provider OGD. Van Lanschot Participaties has bought the company together with OGD’s management/founders.

Gimv invested in the ICT service provider in 2006 and assisted OGD in its transformation into a more professional and diversified company. Together with management, a strategic plan was drawn up, resulting in a targeted expansion of the range of services to capitalise on changing market demand and a more diversified client base.

Ivo Vincente, Head of Buyouts & Growth for Gimv in the Netherlands, about this exit:

“From the outset, OGD has stood out from its competitors due to its young, enterprising corporate culture.

The company has a unique ability to combine flexibility and a fast response with quality. In the face of the company’s strong growth and on-going professionalisation, management has succeeded in holding onto these core competencies. We have every confidence that OGD will continue to develop strongly based on this excellent foundation.”

Daan de la Parra and Roel Nikkessen, the management of OGD, look back with satisfaction on the period with Gimv as investor: “Over the last five-and-a-half years, Gimv has proved a valuable partner.

We look back with pleasure on a period during which Gimv has supported the company in its growth into a mature organisation.”

The sale of OGD has had a positive impact of EUR 4.9 million (EUR 0.21 per share) on Gimv’s most recently published equity value as at 31 March 2012.

Over the entire period, this represents an investment with a return substantially higher than Gimv’s long-term average.The financing of the transaction was led by Menno Riemslag and Myriam Derksen as part of the Acquisition Finance and Structured Lending team of ING Event Finance Business Banking.

A longstanding relationship with the company and the ability to deliver within tight timelines made ING stand out in the process. It was a demanding process financing a well performing company that is currently facing challenging market conditions.

However, the positive experience with the company, the knowledge of the ICT-sector and the continuous and constructive dialogue with all stakeholders (i.e. management, investor and advisors) made this deal a success.