21 July 2015

Consortium led by Gilde Buy Out Partners makes recommended cash offer for Royal TenCate

De Brauw Blackstone Westbroek has advised Royal TenCate on reaching a conditional agreement on a full public offer of EUR 24.60 in cash per ordinary share of TenCate.

The combination of the Offeror and TenCate will help the TenCate group realise its business strategy, allowing it to improve and invest in the existing five market groups (Protective Fabrics, Advanced Composites, Advanced Armour, Geosynthetics and Grass) and, as part of an effective buy & build strategy, to strengthen these market groups further through acquisitions.

Ton Schutte, lead partner: "After assisting Royal TenCate on selling TenCate Enbi in January this year, it was a pleasure to advise them through this important period in the company’s development. It is great that Royal Ten Cate with its long and proud history can be maintained for the Netherlands and, with Gilde’s support, can continue its development of advanced materials for high-technology applications around the world ".

TenCate will remain a separate legal entity and will remain the holding company of the Group and its operations from time to time, with headquarters, central management and key support functions in Almelo.

Click here to read TenCate's press release.

De Brauw team: Ton Schutte, Jochem Vlek, Martin van Olffen, Suzanne Buck, Willemijn Jonker