Earlier this month Netherlands independent investor Globitas took title to compatriot aluminium and steel wholesaler HEGO NL for an undisclosed sum.
HEGO said in a press release that the move was done to focus on innovation, digitization, and new business models. Neither party identified the terms of the deal under which the firm’s founders sold the 40-year-old metals wholesaler.
HEGO’s Commercial Director André van der Veen elaborated upon the sale in related comments.
“With Globitas as the new shareholder of our company, we are very optimistic about the future. With the extra knowledge and expertise that Globitas brings, we can realize the course already set in order to achieve our ambitious goals even faster. In the coming years we will grow to become one of the most important players in stainless steel and aluminium, in The Netherlands and far beyond. On behalf of all employees of HEGO, I would like to thank Wim and Fabien Gort for their unbridled commitment and support over the years. Without them, HEGO could never have become who we are today.”
Globitas partner Arthur Clement said the purchase opened many new opportunities for both firms.
“We are very pleased with the successful completion of this transaction, where we have been assisted by Biesheuvel Jansen Advocaten. The acquisition of HEGO fits perfectly into our strategy of adding value with a lot of entrepreneurial spirit. We see many opportunities to help HEGO with this transition together with the management. We would like to thank the Gort family for trusting Globitas to lead HEGO to the next phase.”
HEGO was founded in 1977 and is involved in the trade and processing of aluminium and stainless steel. The firm carries a wide variety of alloys of both metals in both sheet and coil form. HEGO also operates its own service center, which offers cutting, decoiling, and other services.