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Portfolio Company News

Portfolio Company News

Veldeman Group welcomes Maessen Tentsupply from the Netherlands

Bree/Voorhout, 15 May 2024 – Tent structures and modular infrastructure specialists Veldeman Group (“Veldeman” or “the Group”) from Bree are incorporating Maessen Tentsupply into the Group. This move strengthens Veldeman’s wider geographical representation, while safeguarding future growth for tent suppliers Maessen Tentsupply.

Second acquisition in a single year for Veldeman Group

Veldeman Group, which supplies bespoke solutions for both rental and sales, has built up a strong international reputation with more than 50 years of experience. From the largest demountable festival tent in Europe to the largest semi-permanent warehouse in South America, there really are no limits to what the Group can offer. Even so, the rental business is largely concentrated on the Western European market.

In 2023, IK Partners, a leading European private equity firm, invested in Veldeman Group. One of the objectives behind this partnership was to accelerate rental growth and continue building an international presence through a targeted M&A strategy. An initial acquisition soon followed, namely East Flanders tent rental company Tentmoment, which enabled Veldeman to consolidate its position on the East and West Flanders market. A second acquisition now follows less than a year later with Maessen Tentsupply, with the Group also seeking to strengthen its position in the Netherlands.

Established reputation on the Dutch market

“Maessen Tentsupply is an established name in tent supply on the Dutch market. Just like Veldeman, the company stands for quality, flexibility and customer focus. Supplying custom-made solutions is in the DNA of both our companies. The markets and target audience they focus on also match with Veldeman’s. We look forward to working together with Maessen Tentsupply, within the Veldeman Group, to continue consolidating our position in the Dutch market and to realizing challenging projects,” says Andy Moors, CEO of Veldeman Group.  

Maessen Tentsupply has been involved in the rental and sale of tent structures for public events, festivals, private parties and industrial solutions since 1998. With a young and enthusiastic team of 30 employees, the company certainly does not lack ambition. This move is designed to propel Maessen Tentsupply into becoming the most reliable and respected tent supplier in the Netherlands. As part of Veldeman Group, the company will become stronger professionally and accelerate its ambitious growth plans. The current management of Maessen Tentsupply remains in place and is, in turn, investing in the Veldeman Group.

Roel Nelis of Maessen Tentsupply says “The success of the merger between Maessen Tenten and Tentsupply in 2021 underlined for us the power of working together. Over recent years we have achieved significant growth and made the processes within our company even more professional. We are now ready for the next step and believe we can continue synergy and growth within the Veldeman Group over the coming years.” “We recently expanded our branch in Voorhout with additional storage capacity of 6,000 square metres. This means we can now supply our group’s extensive product range efficiently in the Dutch market. We are really excited about working with the team and our clients to propel our service provision and projects to a higher level,” adds Rogier Maessen of Maessen Tentsupply.

Press contacts

Andy Moors, CEO Veldeman Group
Tel: (+32) 89 46 92 33

Roel Nelis, Maessen Tentsupply
Tel. (+31) 6 12181498

Rogier Maessen, Maessen Tentsupply
Tel. (+31) 6 53922537

Portfolio Company News

Questel Achieves New Milestone for AI-Elevated Intellectual Property Solutions with Strategic Acquisition of qatent

Questel, a global leader in intellectual property (IP) management and technology services, is proud to announce the acquisition of qatent, a tech company whose use of artificial intelligence (AI) has broken new ground in the IP sector. This acquisition will bring forth a new era of sophisticated, AI-enhanced tools and services that will elevate global IP portfolio management. Questel’s acquisition of qatent represents a key component of its strategy to integrate AI-driven solutions into software and services at a level never before seen in the IP industry. With its extensive generative AI expertise and proven applications, qatent aligns perfectly with Questel’s vision for elevated AI-driven IP solutions.

qatent emerged from the distinguished AI research center INRIA Paris and has since become a cornerstone of innovation in the use of AI for IP management thanks to the leadership of its diverse and international team. Founded by a French IP attorney and a leading German AI researcher, from the Université Paris-Saclay, a European scientific and technological excellence cluster, qatent is not only pioneering the application of AI technologies in patent search and drafting but has already achieved notable success in these areas.

Remarking on the acquisition, Charles Besson, CEO at Questel, said: “The significance of AI in our field necessitates an internalized approach which partnerships simply cannot offer. In addition to immediately impacting patent drafting and searching, AI will directly benefit several of our other products such as Equinox, our highly successful IPMS solution.” 

Echoing this sentiment, François Veltz, CEO at qatent, said: “qatent has always positioned the IP practitioners at the heart of its strategy, with the aim of augmenting them through machine capabilities.” “The unparalleled richness and structure of the Questel global patent, trademark and design databases is an incredible learning ground for our algorithms and will quickly give more depth to our calculations,” added Kim Gerdes, CTO at qatent.

Joining the Questel group enables qatent to overcome several previously insurmountable obstacles; in particular, the confidentiality of customer data according to the ISO 27001 standard for information security, cybersecurity, and privacy protection.

Questel’s integration of qatent’s capabilities not only enriches Questel’s AI Labs network across France, Germany, the USA, and Japan but also reaffirms its position as a tech leader in the IP services sector.

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Portfolio Company News

Renta Acquires Rondellen

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Näs Rondellen AB (“Rondellen” or “the Company”). Rondellen is a Swedish general rental company operating in the greater Gothenburg area. The Company also provides traffic safety solutions to its customers. The Company has four depots, more than 45 employees and annual revenues of more than SEK 130 million.

With the acquisition Renta further strengthens its position in the greater Gothenburg area. Rondellen complements Renta’s geographical presence and adds to Renta’s capabilities in the region within infrastructure customers and in traffic safety solutions. The Company has a solid profitability and enjoys a good reputation among its customers. As part of Renta, Rondellen will continue to serve its customers with the same high-quality services as before and further benefit from leveraging Renta’s full product range and from implementing Renta’s digital solutions.

The acquisition is expected to be completed in March 2024.

Kari Aulasmaa, CEO of Renta Group, said: “The acquisition of Rondellen marks a continuation of our strategic agenda to build nationwide rental networks in our core markets. Rondellen is an excellent fit to Renta thanks to its complementary presence around Gothenburg and its capabilities in traffic safety. With the acquisition Renta’s position in the region will be further strengthened. We are very pleased to join forces and look forward to working together with the professionals of Rondellen. “

Samuel Lundberg, CEO of Rondellen, said: “We are excited about becoming a part of Renta, a company that shares our ambition to grow and develop the business further. Joining forces with Renta will extend our product offering to site modules, tunnelling equipment and pumps, enabling us to serve our customers with a broader offering than before. In addition, our customers will benefit from the digital solutions that Renta has developed, such as Renta Easy. I am confident that Renta will provide a good home for our employees, and that we will together be able to accelerate growth in the region.”


Portfolio Company News

Renta acquires Scaffolding Group

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Scaffolding Group
sp. z o.o. (“Scaffolding Group” or “the Company”). Scaffolding Group is a Polish scaffolding company
serving industrial customers in Southern Poland. On a project basis the Company also does work
outside Poland. The Company has more than 20 employees and annual revenues of approximately
PLN 16 million.

With the acquisition Renta makes an entry to the Polish industrial scaffolding market. Furthermore,
Renta strengthens its position in the industrial customer end-market. Scaffolding Group is a growing
company with strong profitability and a skilled staff. Renta’s objective, together with the
management of Scaffolding Group, is to continue to scale the operations geographically and to
further expand the customer base of the Company.

The acquisition is expected to be completed by February 2024.

Kari Aulasmaa, CEO of Renta Group, said: “We are excited to welcome Scaffolding Group to be part of Renta. The acquisition complements our offering and provides us improved access to industrial customers. I’m convinced that we will be able to further expand Scaffolding Group’s business together with the experienced management team of the Company. We warmly welcome the professionals of Scaffolding Group to join Renta.”

Michał Dzieciaszek, Co-founder of Scaffolding Group, said: “We are very happy to partner with Renta, a company sharing our ambition for continued development of the business. With the support of Renta, a larger company with a nationwide presence and advanced digital solutions, we will have a good foundation for continued growth and expansion of the business. We look forward to working with the Renta team in Poland and with Renta’s scaffolding professionals across the Renta Group.”

Portfolio Company News

Renta acquires Jelle-Bo

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Jelle-Bo ApS
(“Jelle-Bo” or “the Company”). Jelle-Bo is a Danish general rental company with one depot located
in Svendborg on the island of Fyn. The Company has 9 employees and annual revenues of approximately DKK 20 million.

With the acquisition Renta grows its network of rental depots in Denmark and further strengthens
its presence on Fyn. Jelle-Bo is an excellent addition to Renta’s Danish operations with its strong
profitability and skilled staff. We will strive to continue to serve Jelle-Bo’s customers with the same
high-quality service approach as before, while further benefitting from Renta’s broad product
offering and digital solutions. The strong local market position and experienced management team
of Jelle-Bo creates a solid foundation for continued growth in the region.

The acquisition is expected to be completed latest in February 2024.

Kari Aulasmaa, CEO of Renta Group, said: “We are pleased to join forces with Jelle-Bo, a highly profitable company with a strong position in the local market. The acquisition complements our geographic coverage and is a natural continuation of our strategy of building a nationwide rental network in our core markets. We warmly welcome the skilled professionals of Jelle-Bo to join Renta.”

Hans Ove Jelle, CEO and founder of Jelle-Bo, said: “We are thrilled to partner with Renta and foresee great possibilities to continue to develop the business together. As part of Renta, our ambition is to continue to provide our customers with excellent customer service, like we have been doing before. Renta is a great partner for us to continue to develop sustainability and digital solutions in our operations. We look forward to working together with the Renta team.”

Portfolio Company News

Renta acquires YIT Kalausto Oy and signs a cooperation agreement with YIT

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement with YIT Corporation (“YIT”)
to acquire the entire share capital of YIT Kalusto Oy (“Kalusto Oy” or “the Company”), a subsidiary
of YIT providing in-house equipment services for YIT. As part of the arrangement, Renta and YIT will
sign a long-term cooperation agreement on the delivery of equipment and related services to YIT in
Finland. In connection with the transaction, Renta also purchases the property used by Kalusto Oy,
located in Urjala, Finland.

Prior to completing the share purchase of Kalusto Oy, the specialised equipment related to YIT’s
Infrastructure business and the personnel working with the specialised Infrastructure business, will
be carved-out from Kalusto Oy and transferred to YIT Infra Oy in an intra-group business transaction.

YIT Kalusto Oy is an in-house equipment service company, providing services solely to YIT. The
Company has a broad general rental offering, and following the carve-out of the specialised
Infrastructure business it has operations at two depots located in Urjala and Veikkola, in Southern
Finland. In connection with the share transaction, 67 employees of YIT Kalusto Oy will transfer to

The enterprise value is EUR 37 million in total, and the purchase price will be paid at the closing of
the transaction. The acquisition of YIT Kalusto Oy is conditional to the approval by the Finnish
Competition and Consumer Authority, and it is estimated to be completed by 30 June 2024.

Kari Aulasmaa, CEO of Renta Group, said: “The acquisition of YIT Kalusto Oy and the long-term cooperation agreement with YIT significantly strengthens Renta’s operations in Finland. Renta and YIT have already had a successful cooperation for several years and through the acquisition the partnership is further broadened to cover entire Finland. YIT is an excellent partner for Renta for continued development of high-quality and sustainable services by leveraging digital solutions. YIT’s equipment rental company is known for high-quality services and we warmly welcome the transferring professionals to Renta.“

Tuomas Mäkipeska, CFO of YIT Corporation, said: “With the sale of our equipment services and the cooperation agreement, we can more strongly focus on our core business and ensure that we have access to a comprehensive range of equipment and the latest digital services. Already for several years, Renta Group has been YIT’s primary partner in delivering equipment in Finland outside of Southern Finland. The transaction will further deepen the partnership with Renta. The goal of the cooperation is to increase the efficiency in using equipment, optimise resources and progress sustainability using low-emission equipment. Our team working with equipment services will have better opportunities to develop their skills as part of a larger expert team. With the transaction, YIT improves its capital efficiency”