Shearman & Sterling advised funds managed by Equistone Partners Europe on the financing of the acquisition of BOAL Group. BOAL Group was sold by Ronald Boers as well as founder Marinus Boers, both of whom will retain a minority shareholding. BOAL’s management team will also acquire a minority stake in the business. The financial terms of the deal are undisclosed and the acquisition remains subject to clearance from anti-trust authorities.
Headquartered in Naaldwijk, the Netherlands, BOAL Group has 48 years of experience in designing and manufacturing aluminium roofing and sidewall systems for greenhouses and holds a market leading position in the horticultural greenhouse industry. It also supplies the construction, engineering, and transport sectors with aluminium extrusions. Together with Equistone, BOAL plans to further develop its market-leading position in the horticultural greenhouse industry.
Equistone is one of the leading private equity investors in Europe and one of the most active in the German mid-cap market. Shearman & Sterling previously advised Equistone on the financing for the acquisitions of DefShop, SportGroup, TriStyle and GALA Group as well as several add-on acquisitions.