BMT nv agreed to acquire VCST Industrial Products N.V. from GIMV NV (ENXTBR:GIMB), Avedon Capital Partners, NIBC Principal Investments B.V. and management of VCST in cash on March 2, 2016. To facilitate the acquisition the current shareholders of VCST subscribed a vendor loan at IG Watteeuw International (IGW), a subsidiary of BMT. Upon completion, VCST will be brought into one division with IGW. VCST reported a turnover of €169 million in 2015. The current management of VCST will take up a driving and governing role in the combination VCST/IGW. The transaction is subject to the usual conditions, including the approval of the competition authorities. GIMV will realize a net positive impact of €4.6 million on the equity value at December 31, 2015, from the exit. Henk Vivile, Kurt Huyghe and Charlotte Van Vossel of Degroof Petercam Corporate Finance acted as financial advisors for BMT. Koen Vanhaerents, Davinia Martens & Michael Van Acker of Baker & McKenzie acted as legal advisors for BMT. Marc Kutschera, Bastiaan Vaandrager, George Galanopoulos and Vikas Sehgal of N M Rothschild & Sons Limited acted as financial advisors to GIMV NV (ENXTBR:GIMB), NIBC Principal Investments B.V. and management of VCST. Ernst & Young Belgium, Investment Banking Arm acted as financial advisor for BMT nv.

BMT nv completed the acquisition of VCST Industrial Products N.V. from GIMV NV (ENXTBR:GIMB), Avedon Capital Partners, NIBC Principal Investments B.V. and management of VCST on March 2, 2016.