Corporate Finance accompanies sales of Roma Netherlands

Description

Roma Netherlands takes the next step towards the future. The business, based in Raamdonksveer, immediately belongs to the Cold Care Group, part of NewPort Capital.

The group, which also includes Koel Isolatie Maatschappij Nederland B.V. ("K.I.M. Nederland"), realizes cold stores and other conditioned spaces for businesses in various sectors. Baker Tilly's Corporate Finance team assisted Roma in the sale process.

Strong match in vision and future plans

Roma designs and assembles sandwich panels within conditioned system construction. They also supply associated refrigeration and freezer doors and refrigeration and freezer containers from their own production facility. These activities fit seamlessly with the Cold Care Group's vision and future plans. The combination with K.I.M. Nederland creates the absolute Dutch market leader in the specialized niche of building cold and freezer houses with insulation system panels.

Paul Pallandt, commercial director of Roma explains, "With the cooperation with K.I.M. Netherlands and NewPort, we are at the start of a new chapter in the history of our business; founded in 1978, where Herman van Leeuwen, Johan Woestenberg and myself have been involved for more than 30 years. First as employees and later also as shareholders."

"The addition of Roma's 'state-of-the-art' production lines for the manufacture of insulated doors and enclosures, will undoubtedly lead to new innovations in applications and designs that will benefit our joint customers," says Paul. "We feel a strong cultural match with the management of K.I.M. Netherlands and have deep respect for its skilled and loyal group of employees. Johan, Herman and I are therefore very pleased to work as one team with K.I.M. Netherlands, under the Cold Care Group umbrella. We will continue to be responsible for the day-to-day operations of Roma and also join as shareholders in the Cold Care Group."

Joining forces in the Cold Care Group

Forming the Cold Care Group is an important step in NewPort's buy-and-build growth strategy and follows its investment in K.I.M. Netherlands in April 2021. NewPort sees tremendous growth potential in the cold store industry and the increasing demand for cold storage and other conditioned spaces for businesses in the food, pharmaceutical, distribution and transportation sectors.

Han Reinders, member of the Cold Care Group's Supervisory Board and former director-major shareholder of K.I.M. Netherlands, explains:

"Roma has long been a highly respected industry peer of K.I.M. Netherlands, the business founded by my father in 1968. With its highly complementary product portfolio and service offering, Roma is a great partner for K.I.M. Netherlands. I am therefore very proud that both businesses are now joining forces as part of the Cold Care Group, marking a historic occasion."

Guidance from the Corporate Finance team of Baker Tilly

Roma was assisted by Baker Tilly's Corporate Finance team consisting of Mark Goderie, Tijmen Bloom and Marcel Ploegsma. Baker Tilly assisted them in drafting the sale documentation, negotiations, guidance of the due diligence investigation and effectuation of the transaction.