Skip to main content

Press Release


Industri Kapital divests Fortex to ABN AMRO Capital

Press Releases

ABN AMRO Capital has reached an agreement to acquire a majority stake in Dutch textile services company Fortex from Industri Kapital and the company’s management.

The business is planned to be merged with Clean Lease Randstad, the Netherlands based textiles services company acquired by ABN AMRO Capital in June 2004. The combined turnover of the group will amount to EUR 115 million. The merger is subject to the customary approvals.

Industri Kapital acquired Fortex in March 2000 from the family shareholders and has subsequently pursued a successful transformation of the business via the acquisition and integration of three Belgian companies and one Dutch company.

Fortex is a leading provider of textile rental and laundry services to the healthcare and industrial sectors in the Benelux countries, also providing special cleaning services for surgical instruments and textiles. The company has nine plants, employs 1,100 people and reported sales of EUR 63 million in 2004.
ABN AMRO Capital will hold a majority stake in the proposed merged entity. Clean Lease Randstad CEO, Albert Hartog, will remain the second largest shareholder, and Fortex CEO, Rob van den Akker, will own the remaining shares. Together they will form the senior management of the combined group. The Clean Lease Randstad and Fortex names will be retained.

Albert Hartog, CEO of Clean Lease Randstad, and Rob van den Akker, CEO of Fortex, said:
“This merger gives us the means and critical mass to accelerate the transformation process of traditional industrial laundries into full service logistics providers. Our goal is to ensure long term continuity and to become an even more flexible and focused company for our clients.”

Marc Staal, Managing Director of ABN AMRO Capital in the Netherlands, said:
“The merged business will be well positioned to focus on growth in the Benelux region, and on the development of new products and services to existing client bases.”

Kristiaan Nieuwenburg, Partner for the Benelux at Industri Kapital, said:
“The Fortex investment clearly demonstrates Industri Kapital’s operating approach to value creation, by way of creating a market leading business through successfully merging a number of businesses and restructuring the production platform. The merger of Fortex with Clean Lease Randstad provides a solid base for further market consolidation.”

– – –

Press enquiries:
ABN Amro Capital
Carolien Pors  +31 20 628 6321 Alex Evans  +44 20 7678 5111

Industri Kapital
Kristiaan Nieuwenburg +44 7747 015 127 Sarah Gestetner +44 207 638 9571

Notes to Editors:
Vendor, Industri Kapital and Fortex management

Legal (ABN AMRO Capital) Loyens & Loeff
Legal (Industri Kapital)  Freshfields
Financial and Tax Structuring         PricewaterhouseCoopers (for ABN AMRO Capital)
Market Due Diligence                 OC&C Strategy Consultants Benelux (for ABN AMRO Capital)
Bank Facilities                         Nielen van Schaik

About Industri Kapital

Industri Kapital is a European private equity firm with Nordic roots, managing close to 4 billion euros in fund commitments. Since 1989, Industri Kapital has acquired 50 European companies. The current portfolio encompasses 22 companies with a total turnover close to 7.5 billion euros.

Industri Kapital invests mainly in mid-sized companies with strong cash flow and profit improvement potential, operating in mature industries with fundamental underlying growth. Industri Kapital’s previous investments in the Benelux include Continental Bakeries (pan-European biscuits group, Netherlands), Oriflame (cosmetics company, Belgium), Pieters (fish processor, Belgium), Amas (specialised forwarder, Netherlands) and Welzorg (mobility aids, Dutch).

About Clean Lease Randstad

Clean Lease Randstad (CLR) was founded in 1982 and specialises in integral textile care and maintenance for the healthcare sector, with major clients including hospitals and care homes. The company has ten locations in the Netherlands with sales of EUR 52 mln and employs 850 people.

About Fortex

Fortex BV operates from nine locations in the Netherlands and Belgium with sales of EUR 63 mln and 1100 employees. The company services the healthcare and hospitality market segments. In Belgium, Fortex also focuses on the industrial company clothing market segment.


Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 742.9 bln (as at 31 March 2005). It has over 3,000 branches in more than 60 countries and territories, and has a staff of about 97,000 full-time equivalents worldwide. ABN AMRO is listed on the Euronext and New York stock exchanges.

ABN AMRO operates through three Strategic Business Units, each responsible for managing a distinct client segment. Wholesale Clients provides integrated corporate and investment banking services to corporate, institutional and public sector clients worldwide. Consumer & Commercial Clients focuses on retail and SME clients in three home markets – the Netherlands, the US Midwest and Brazil and in a number of selected growth markets. Private Clients & Asset Management provides private banking services to wealthy clients and investment products to financial intermediaries and institutional clients.

About ABN Amro Capital

Last year ABN AMRO Capital used a buy-and-build strategy to create the UK’s second-largest caravan park business by acquiring caravan park operator, Park Resorts, and merging it with GB Holiday Parks in December 2004.

ABN AMRO Capital is the global private equity business of ABN AMRO, with teams operating in 10 countries worldwide including the Netherlands, UK, France, Spain, Italy, Sweden and Australia.

Total funds under management (as at end Dec 04) by ABN AMRO Capital are EUR 1.9 bln, of which EUR 140 mln of capital is provided by international investors in ABN AMRO Capital managed funds in the UK and France. A fund is currently being raised in Australia.

Last year, ABN AMRO Capital completed 13 buy-outs with an aggregate deal value of EUR 2.8 bln (and an aggregate ABN AMRO Capital equity investment of EUR 431 mln), as well as 12 exits with total proceeds of approximately EUR 730 mln.

Recent News

IK Partners to invest in BIOBank alongside Management and historical shareholders Verto Growth and Capital Croissance
Read More
IK Partners divests Yellow Hive to a newly established continuation fund
Read More
Stake in A-SAFE acquired by IK Partners
Read More