Brink acquires PM2

Stem op deze deal via de stempagina: Mena.nl/genomineerden-best-small-cap-deal-2023

Name of the deal: Brink acquires PM2
Date announced and/or closed: 1 September
Published value: N/A
Buyer(s): Brink
Target: PM2 Bouwadviseurs
Seller: Zucca Beheer, Ellawi Beheer en M5 Beheer

Involved firms and advisors
Legal Advisory Corporate/M&A | Pellicaan Advocaten
Financial Due Dilligence | Mazars
Tax Advisory | Mazars

Involved firms and advisors target:
N/A

Involved firms and advisors sell side:
N/A

Pitch

Deal Outline
Brink, a Dutch-based firm specializing in project management and advisory services, has acquired PM2, a specialized consultancy and project management company with a focus on high-quality laboratory environments. With the addition of PM2, Brink is expanding its project management services in laboratory environments.

PM2 (established: 2006): PM2 assists organizations such as universities, research institutions, and pharmaceutical companies in designing, constructing, and renovating laboratories. The agency provides substantial expertise for lab design and can oversee the construction process.

PM2, Netherlands-based:PM2 will continue to operate independently under its existing name within Brink. This acquisition aims to create an expertise group in the Netherlands, particularly in constructing and renovating technically complex laboratories, with a strong emphasis on high-tech and biosciences, aligning with Brink’s strategic growth ambitions in this sector.

Why This Deal Deserves the Award for Best Deal Small-Cap 2023
This deal deserves recognition as an exemplary Small-Cap Deal, bringing together all the essential elements of M&A deals in 2023. It takes place in an innovative sector, where PM2’s expertise in building high-end laboratories aligns perfectly with Brink’s profile as a consultancy and project management agency for the built environment. Brink, with around 250 employees, primarily serving clients in construction, infrastructure, and real estate, has already established a presence in the microbiological, chemical, and physical laboratory market. Notable clients include ASML, DSM, and High-Tech Campus Eindhoven. This synergy between the two parties resulted in a seamless and highly efficient collaboration.

Deal Rationale
Adriaan Visser, Chairman of Brink, states, “With the addition of PM2, we are forming one of the most comprehensive expertise groups in the Netherlands specializing in the construction and renovation of technically complex laboratories, with a strong focus on high-tech and biosciences. Together, we can cater to the entire spectrum of the lab construction market, serving both the (semi) public and private sectors.”

Impact of This Deal on the Company
Rob Mulder and Bas van Halen, founders of PM2, note, “Together, we hold a significant share in this market, offering a unique combination of size, composition, and expertise in the construction process and lab technology. This empowers us to consistently provide optimal solutions for our clients’ housing requirements.”

Impact of This Deal on Direct Stakeholders
The management team remains in place, retaining control over daily business decisions while benefiting from the knowledge and scaling advantages of being part of the Brink group. This deal is advantageous for Brink, the management team, and clients, who can access the full range of services offered by both Brink and PM2.

Impact of This Deal on Society
This deal is notably innovative as it results in the formation of one of the most comprehensive expertise groups in the Netherlands specializing in the construction and renovation of technically complex laboratories, with a strong emphasis on high-tech and biosciences.

Most Complex Aspect of This Deal
The purchase price mechanism was complex but remains undisclosed.

What is the impact of this deal for the company?
For Allure, the acquisition will directly enable management to remain focused on servicing its clients to the best as the Allure organization will be scaled-up based on the experience of the Deli Home team. For example, within a month after closing, HR activities focused on attracting new Allure employees were taken over by the Deli Home HR team from the former owners of Allure. Secondly, Deli Home is already supporting Allure with optimizing production capacity by sharing its experience and experts. This and other initiatives should ensure Allure can maintain, or even speed-up, its impressive growth pace to become the leading Made-2-Measure producer of high-end wardrobes in the Benelux and Germany, while keeping its own unique identity and market proposition.

What is the impact of this deal for the direct stakeholders?
Direct stakeholders at Allure are able to do what they love most: servicing their clients to the best and so continuing the impressive growth pace of Allure.

What is the impact of this deal on society?
With cocooning and smaller living spaces being increasingly important trends, consumers want their home to truly meet their demands. The combination of Allure and Deli Home will enable consumers to create their beloved wardrobe.

What was most complex about this deal?
Building in a short period of time a relationship between Deli Home and Allure to discuss what’s best for Allure was the most complex part of this transaction, especially to do it in a short period of time.