AED Rent Receives Investment from ING and Phifin
Following the investment, ING and Phifin will own a 27% and a 12,5% stake in the company, respectively. They join founder and CEO Glenn Roggeman (20,6%), AED management (7,1%) and private equity firm PE Group2 (32,8%), which is an investor since 2007.
In conjunction with the deal, Tom Bousmans, Director at ING Corporate Investments, and Jacques-Martin Philippson, reference shareholder and CEO of Phifin, have joined the company’s board.
AED Rent intends to use the proceeds to launch the AED Lease business concept in order to offers its customers an additional long term solution for their capital-intensive audiovisual equipment investments. Last year, the company added AED Store, a Cash & Carry supermarket concept, where the customers can buy smaller AV equipment at competitive prices.
Founded in 1986 AED Rent is an audiovisual (AV) equipment provider (professional speakers cabinets, computer controlled spots, mixing consoles, lighting fixtures, video-walls, projectors, trussing and various accesories) for the professional audiovisual industry. It currently operates eight subsidiaries, which forms the AED group with about 130 employees in 5 countries (Belgium, the Netherlands, Germany, France and the UK) and a turnover of €28m in 2010.
Customers include professional rental and production companies involved in the organization of large national and international events such as large live music
concerts, trade fairs, corporate events, TV-, theater- and movie recordings.