Maes Industries acquires the Antwerp based HVAC-player Abati
HVAC Investment Group, the holding above Maes Industries from Herentals, has acquired, under the supervision of the court, ABATI NV through an asset deal. As a result, the continuity of the activities of Abati has been secured together with the employment of its 53 staff-members.
Abati, specialized in the installation of classical heating and sanitary systems, had become financially distressed (WCO or ”Belgian Chapter 11”) owing to loss-making projects. Notwithstanding this difficult situation, Abati is still a strong quality player with an excellent reputation in the HVAC-business in general and is a reference player in the Antwerp region.
Maes Industries is a specialist in the installation of heating-pump, ventilation and air-conditioning systems whilst adhering to the highest standards.
Recently, Maes Industry strengthened its capital by means of the unique Smart Deal concept. The Smart Deal is an exclusive product from the corporate finance house SDM-Valorum. Owing to this improved capital structure, Maes Industries is now in an excellent position to guarantee the continuity of both companies and to deliver future growth.
SDM-Valorum has therefore identified Maes Industries as the ideal partner to ensure the business continuity of Abati. Indeed, the activities of both companies are very complementary in terms of the turn-key projects they both target. Consequently, the HVAC Groep has mobilized the necessary capital and management to realize a successful acquisition and integration.
Jimmy Maes, founder and CEO of Maes Industries, states: ”With this acquisition, we welcome 53 strong staff-members into our Group and thus ensure the continuity of the activities of Abati. Through this business combination we will double our turnover and our Group is now able to offer our clients a complete offering in HVAC-services. As from today, we will realize our growth ambitions out of two locations.”