NPM Capital acquires stake in Jeco Energies

Herentals/Ghent, Sept. 25, 2024 – Investment company NPM Capital is taking a significant minority stake in Belgian family-owned Jeco Energies, which is one of the leading players in the Benelux region in the field of industrial energy supplies. NPM Capital’s participation is intended to accelerate Jeco Energies’ growth in the coming years by increasing its focus on strategic acquisitions and international expansion. NPM Capital is bringing the necessary experience, knowledge and capital on board at Jeco Energies in that area.

Jeco Energies is a leading player in both temporary and permanent solutions for industrial power infrastructure. It rents hardware, including self-built transformer containers, that helps companies prevent unforeseen power outages or serves as temporary power supplies while waiting for a permanent connection to the grid. In addition, the company is committed to realizing complete end-to-end projects for industrial power supply in various sectors and is active in industrial service and automation. In 2022, it emerged from a merger of hardware rental company Gens Rental, EPC contractor DSG and industrial automation specialist Dymotec, which from now on will continue under the name Jeco Energies. The company now has more than 200 employees and has doubled its turnover in the past two years.

Sustainable future
“We are impressed by the strong growth trajectory the company has achieved in recent years,” said Hiram Claus, investment director and head of Belgium at NPM Capital. “This investment is in line with NPM’s strategy to invest in sustainable companies. Jeco’s energy facilities make an important contribution to the electrification of industrial processes. The unique knowledge and position in the value chain, together with the structural need for expansion of the electricity grid, make Jeco Energies a powerful player in a growing market.”
Jeco founder and majority shareholder Jef van den Brande welcomes the entry of NPM Capital and sees it as an important step in the development of Jeco Energies. “NPM’s expertise and professionalism will play an essential role in the further development of our organization within the various niches in which we operate. I am convinced that the synergy between our innovative operation and NPM’s strategic support will enable us to take Jeco Energies to new heights, both locally and internationally,” he reveals.

‘Same company values‘
Part of the agreement is that Jan Van Nuffel will join Jeco Energies’ management team as Group CEO as of Oct. 1. Van Nuffel has already been active there as a non-executive director for the past three years. He also brings extensive experience from previous positions at construction companies Square Group, Groep Verelst and Royal BAM Group. Bob Zegers and the entire management team remain closely involved in the further expansion of the Group.
Van Nuffel looks forward to working with NPM: “This partnership increases our clout in further organic growth, including through the accelerated expansion of our rental fleet, and certainly also in further inorganic growth, through strengthening acquisitions in the areas of our current business lines. With NPM, we have found a partner that upholds the same corporate values as Jeco: focus on sustainable growth and care for employees. After all, the expertise and technical skills of all our Jeco colleagues are an important and distinctive asset of our organization.”
Completion of the proposed transaction is subject to customary regulatory approvals.

About NPM Capital
NPM is an independent investment partner that helps medium and large companies headquartered in the Benelux realize their ambitions and build the companies of the future. With offices in Ghent and Amsterdam, NPM focuses on family businesses and companies with a strong and committed management team. The current portfolio consists of 24 participations, both majority and minority shareholdings, within themes that impact the future of the world: Sustainable Future, Everything is Digital, Feeding the World and Healthy Life & Learning. Earlier this year, NPM already announced an investment in Belgium’s Tech Tribes.

About Jeco Energies
Jeco Energies operates in the field of low, medium and high voltage solutions for both temporary and permanent industrial energy supplies. With four business lines (energy, rental, automation and service), the group unburdens its customers by offering comprehensive, integrated solutions. Jeco Energies operates from seven locations in Belgium, the Netherlands and South Africa, and serves its customers in more than 50 countries worldwide with a team of more than 200 employees.