Doedijns International, a Netherlands-based provider of engineered solutions in the area of hydraulics, instrumentation, pneumatics and control systems, has been acquired by IK Investment Partners from Friesland Bank Investments.
The financial details of the transaction, which is still subject to customary legal and regulatory approvals, were not disclosed. Following the acquisition, IK will acquire a majority stake in the company. The management team, led by CEO Juul IJzermans, will remain in place retaining a significant minority stake in the business and will work in partnership with IK to grow and develop Doedijns.
The company was acquired by local Dutch Friesland Bank Investments and a limited group of managers in 2005.
Founded in 1879, Doedijns focuses on the Energy & (Petro) Chemical, Maritime & Dredging and High-End Machine Building industries. The company has offices in the Netherlands, Belgium, France, the United Kingdom, Dubai and Malaysia, where it employs 275 people.