Triton invests in Royal Reesink alongside current Management
An entity controlled by the funds advised by Triton Partners (“Triton”) reached an agreement to acquire a majority stake in Royal Reesink B.V. (“Royal Reesink”), one of the largest international equipment distribution and aftermarket services platforms, from Gilde Buy Out Partners ("Gilde"), Teslin Participaties Coöperatief U.A. ("Teslin") and Navitas B.V. ("Navitas Capital"). Triton invests alongside the current management of Royal Reesink. The company is a long-standing partner for major A-brand OEMs and is active in the agriculture, turf care, material handling and construction industries and hydraulics business. The financial terms of the transaction were not disclosed. The completion of the envisaged transaction is expected in the second half of 2019 and is subject to customary approvals by regulatory authorities. The agreement is also subject to the completion of the consultation process with Royal Reesink’s works council.
Peder Prahl, Director of the General Partners for the Triton funds, said: "We look forward to actively supporting the management and employees of Royal Reesink as a stable owner by investing in the growth and development of the company. Our industry expertise and international network will further strengthen Royal Reesink’s position as a reliable partner to leading OEMs in various industries.”
“With Gilde, Teslin and Navitas Capital as a partner we have been able to further strengthen our leading market position in the Benelux as well as accelerate our growth throughout other countries such as Canada, South Africa, Germany and the United Kingdom. We are pleased to welcome Triton as the new majority owner. Based on their experience from prior investments, they have demonstrated deep sector knowledge. Triton is clearly the right partner for us as we continue to leverage our strong brand portfolio and aftermarket capabilities,” said Gerrit van der Scheer, CEO of Royal Reesink.
“Royal Reesink is recognized by its customers as a preferred provider of equipment and related lifecycle services and we look forward to continuing Royal Reesink’s success story together with management and employees”, adds Luc Hendriks, Senior Industry Expert & Operating Partner at Triton.
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