Antwerpen (BE) / Drachten (NL), 17 March 2021, 7u40 CET



Gimv invests in Verkley, a specialist contractor in cable and pipeline
networks for energy and water

Gimv announces that it has acquired a majority shareholding in Verkley, which specialises in building
and maintaining underground cable and pipeline networks for energy and water. Gimv has acquired the
shares from PMH Investments in Heerenveen). Verkley’s experienced management is also reinvesting. In
cooperation with Gimv, Verkley is keen to anchor and expand its activities as an important northern
Dutch player in underground infrastructure in a sustainable way.

Investment in public utilities is a must: with solar energy and wind power coming to the fore, and with growing
demand for electrical energy for electric vehicles, heat pumps, ICT systems and other uses, today’s electricity
networks are inadequate for the future. In the northern Netherlands in particular, many electricity networks need
to be significantly reinforced. Parallel with this comes water transition: water resources made scarcer by climate
changes demand good management, including major investments to maintain and replace existing drinking water
networks.

The opportunities and growth possibilities for a well-reputed player like Verkley (Drachten - NL, www.verkley.nl)
are great. For 50 years, the company has been building mains and connecting piping for network companies in
the northern Netherlands. Next to that Verkley specialises in consultancy, engineering and project management
for cable and pipeline networks. In order to deepen its service to its clients, Verkley is also keen to expand its
specialization in engineering and more complex horizontal soil drilling (trenchless technologies). With Gimv,
Verkley has found the right partner to realise these ambitions.

Verkley enjoys a strong reputation for quality, safety, flexibility and technical competence, criteria that are very
important in its customers. In this way the company has built up an impressive customer base over the past
decades, with many multi-year contracts. With some 150 permanent employees and 150 flex workers, the
company is able to respond quickly and flexibly to changing circumstances. Verkley generated a turnover of EUR
38 million in 2020 out of two facilities, one in Drachten (head office) and one in Groningen.

Erik Blauw, CEO of Verkley, explains: "With the arrival of Gimv and its expertise, we hope to be an even better
partner for our customers. By taking on board this experienced partner with a strong network in our sector, we are
ready for the next phase of growth. Our shared vision on long-term value creation is the best guarantee for
success in our markets and for continuity for all our stakeholders. At the same time if offers greater career
opportunities and development prospects for our employees."

Rombout Poos and Roland Veldhuijzen Van Zanten (Gimv), form the deal team. In their words: "Verkley is a
strong player in a segment that responds to important trends that are closely aligned with the strategy of our
Sustainable Cities platform. We look forward to working with Erik Blauw and his team to realise the further
expansion of Verkley - and with it the energy and water transition in the Netherlands."

Erik Mampaey, Managing Partner Gimv and Head Sustainable Cities, adds: “Through its Sustainable Cities
platform, Gimv once again invests in the energy transition towards a data-driven sustainable society, one of the
greatest ESG challenges that we actively embrace.”




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Durk van der Meer, managing director of PMH Investments, says: ‘It is not easy to say goodbye to a
magnificent company, after working together to bring Verkley to its present outstanding condition. But a change of
shareholders is good for the company’s next growth phase and for maintaining its market position through
excellence.”


The transaction is subject to customary closing conditions, including approval by the competition authorities. No
further financial details on this transaction are being published.


ABOUT GIMV
Gimv is a European investment company, listed on Euronext Brussels. With 40 years' experience in private equity, Gimv
currently has EUR 2 billion of assets under management. The portfolio contains around 50 portfolio companies, with combined
turnover of EUR 2.5 billion and 14,000 employees.
As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial, innovative companies with high
growth potential and supports them in their transformation into market leaders. Gimv's four investment platforms are Connected
Consumer, Health & Care, Smart Industries and Sustainable Cities. Each platform works with an experienced team across Gimv’s
home markets of Benelux, France and DACH, supported by an extended international network of experts. www.gimv.com.

ABOUT VERKLEY
Verkley is a specialist in the installation, assembly and testing of cables and pipes with a focus on energy (gas and electricity) and
water. Founded in 1964 by the Verkleij brothers. In 2021, Verkley has some 150 permanent employees and over 150 flex workers.
Turnover in 2020 amounted to EUR 38 million. Verkley's working area is in the north of the Netherlands, with two branches: the
head office in Drachten and Groningen. Clients include Enexis, Vitens, Liander, water boards, municipalities, and industry.
www.verkley.nl



For further information please contact:

Rombout Poos, Partner Sustainable Cities team Gimv
T +31 70 3 618 618 – rombout.poos@gimv.com

Erik Blauw, CEO of Verkley
T +31 6 10033832 - erik.blauw@verkley.nl




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