To facilitate further growth and boost product development, Schuitemaker is pleased to announce that the private equity firm Wadinko N.V. is buying a 36.25% stake in our company with immediate effect.
The growth capital and the support from Wadinko means that Schuitemaker - in the period leading to its 100th anniversary in 2019 - will be able to successfully enter a new century independently and backed by a powerfully formulated new strategy.
Wadinko is a regional private equity company whose aim is to promote industry and employment in the Overijssel, Noordoostpolder and Zuidwest Drenthe regions of the Netherlands. The company’s underlying principle is to support new or existing companies with potential through long-term participation. This participation involves the injection of risk-bearing capital, know-how and management support.
According to Han Leemhuis, investment manager at Wadinko, Schuitemaker represents an interesting addition to Wadinko’s portfolio. ‘If only because of the employment opportunities it offers. Schuitemaker currently has a 140-strong workforce, including many young and talented engineers. By participating in Schuitemaker, we are helping to keep this employment in the region and safeguarding the expertise which is already in place at Schuitemaker. Schuitemaker is a fantastic brand and we are delighted to be able to contribute towards its ongoing development.’
Bert Venema, interim managing director at Schuitemaker, endorses this view: ‘In recent times we have been increasingly challenged by market and technology-related developments. Together with issues relating to the internal management of processes, this has exerted considerable strain on the company’s operations. The future prospects for Schuitemaker look especially bright and this will undoubtedly be boosted by Wadinko’s participation. Not least it will enhance our ability to harness the growth opportunities, which are based on forward-thinking product innovation.’
Schuitemaker anticipates a constructive and successful collaboration with Wadinko and is looking forward to the future, with 2019 as its 100-year milestone.
Rijssen, 21 November 2018