This is the second M&A transaction carried out by EMI in Belgium after acquiring the majority stake in Access System in early March.
“With this transaction, we are taking another step in achieving the long-term goal of becoming the go-to one-stop-shop for total industrial solutions and complex technical projects in Romania and Europe. Decran is a financially stable company with its own state-of-the-art products and with high development potential. A month ago, we announced the acquisition of Access Systems, through which we consolidated our presence in the Wallonia region. Today, with the acquisition of Decran, we are entering the Flemish region, and, as a result, our industrial access solutions and services will cover the entire Belgian territory. I would like to welcome the new colleagues to the EMI team. I am confident that we will develop best practices in industrial access with them and the colleagues in Access Systems. We will achieve synergies that will benefit clients both from the point of view of the final costs and the quality provided,” stated Jerome France, founder and CEO of EMI.
As regards the international expansion of EMI, the group recently appointed Charles Colle as Head of International Expansion. Charles is an executive who over the last 11 years has acquired experience in both the food and real estate industry in Belgium, working mainly on business development & financial restructuring projects.
“I look forward to building a second market for EMI, fully leveraging the individual strengths of all three companies, the expertise of Morphosis and other investors, and foremost the experience and network of the group CEO Mr. Jerome France,” stated Charles Colle, Head of International Expansion at EMI.
EMI had revenues of EUR14 million in 2021, up 23% from 2020. In 2022, EMI targets total revenues of EUR22 million, including the turnover of Access Systems and Decran.
D.C. Corporate Finance assisted EMI during the stage of financial due diligence, whole law firm Astrea assisted the company in all legal and tax aspects of the transaction.
EMI is 51% held by private equity fund Morphosis Capital,
Decran has been present on the Belgian market since 1996 and is specialized in the production and installation of fireproof and non-fireproof steel doors for indoor and outdoor industrial use. The doors are produced in the company’s production plant based in Slovakia, after which they are transported to Belgium and installed at the company’s clients, who are predominantly from the Flemish region. The company has 37 employees, 20 of whom are based in Belgium, while the rest of them work in the plant from Slovakia. Decran’s client portfolio mainly includes industrial builders such as Alheembouw, Willy Naessens, and Cordeel. The company also serves a wide range of factories and warehouses in the Flanders region.