Ownership of Dutch high-tech mouldmaker IGS GeboJagema moves from Nordian Capital to investment firm Smile Invest
Rabo Corporate Investments to co-invest with a minority interest
- The Eindhoven-based company IGS GeboJagema is an international leader in high-tech injection mould making for optical and medical plastics applications
- Since Nordian Capital took over the company in 2016, it has doubled in size by increasing its customer portfolio and investing in a high-tech medical production facility
- The acquisition by Smile Invest is focused on broadening the market and international expansion, in particular in the United States
Eindhoven, 29 March 2021 – IGS GeboJagema, European market leader in high precision injection mould making for optical and medical end markets, joins investment firm Smile Invest’s portfolio. All parties involved have signed a purchase agreement to this effect. In collaboration with its current investor Nordian Capital, IGS GeboJagema developed its client base in both the optical and medical markets, investing in R&D and production facilities. This acquisition signifies the next phase for the high-tech company in Eindhoven, in which it intends to develop the American market further.
IGS GeboJagema (IGS) develops, manufactures and validates high-end, multiple injection moulds for the production of high-precision applications such as contact lenses, asthma inhalers, insulin pens, and blood-diagnostic devices. Nordian Capital acquired the company in 2016, intending to develop the medical division of the business commercially and financially. IGS has since established itself as a leader in this specialist and innovation-driven market. The first steps towards the US market have already been taken, marking a new phase for the company.
Expansion to the US market
Peter Mertens, CEO of IGS GeboJagema: “This move has come at the right time. We are in the process of expanding to the United States, where we have many opportunities for our medical applications. Clients cannot and do not want to take any risks with medical applications. We take care of all aspects concerning precision, quality, and continuous validation. Smile Invest’s entrepreneurial network opens up new opportunities for us, particularly with its knowledge, experience, and extensive contacts. Nordian Capital has greatly helped and stimulated us as our sparring partner and with its insights and guidance in terms of financial and commercial management. We have always been successful in finding the right investment party for each phase of our company’s development.”
Perry Bos, Managing Partner at Nordian: “Peter and his team represent yet another high-tech Eindhoven firm making big waves on the international market. There are not many companies that can do what IGS does. We have witnessed the company’s transformation into a leading player in the high-end medical devices and equipment market. Its manufacturing plant and team of developers, engineers, and operators are among the very best in the market. In the next growth phase, there will be a new party that will be able to help IGS further.”
Ivo Vincente and Ad Notenboom, Partners at Smile Invest: “IGS is a fantastic company with a unique market position. Our entrepreneurs’ network and the knowledge and experience we contribute are exactly what IGS is looking for to support it with further expansion to customers in, for instance, the United States and with the continued development of applications for injection moulds, such as medical packaging. In turn, IGS’s innovative medical profile and growth ambition are a perfect match for our portfolio. In Rabo Corporate Investments, we have a trusted partner with a physical presence in the United States.”
Peter Mertens will stay on as the CEO and is reinvesting in the company. Along with Smile Invest and Rabo Corporate Investments as the new owners, Mertens anticipates that a successor will be found by the end of 2022, when Mertens himself will take a seat on the company’s Strategy Board.
The sale of IGS was overseen by Lincoln International, an international Corporate Finance Consultant with offices in Amsterdam.
About IGS GeboJagema
IGS GeboJagema (igsgebojagema.nl) specialises in the design, manufacture, and validation of high-end multiple injection moulds for plastic products and focuses on the market’s premium segment. Its moulds are manufactured for contract manufacturers and leading OEMs who use them to manufacture products for the medical and optical markets. The end products that the moulds produce include contact lenses, insulin pens, and inhalers. The company has 120 specialised staff and is established in Eindhoven, where it has a state-of-the-art production plant.
About Nordian Capital
Nordian Capital (nordian.nl) is an independent Dutch private equity investor focused on increasing and accelerating the growth of companies. Since its foundation in 2014, Nordian has contributed to more than 30 companies as a critical and committed investment partner. Nordian Capital offers proactive support in the areas of strategy, financing and mergers & acquisitions. Nordian does not take the management’s seat but allows entrepreneurs to do what they do best: running their business.
About Smile Invest
Smile Invest (Smart Money for Innovation Leaders smile-invest.com), established in 2017, is a European evergreen investment firm that manages assets worth €350 million. It is financed by 40 entrepreneurial families and has a long-term focus on innovative growth companies. Smile Invest focuses on companies active in technology, healthcare, and digital services. From its offices in Leuven and The Hague, the team supports ambitious entrepreneurs and management teams in fulfilling their growth plans. IGS is the fifth new addition to Smile’s portfolio in just six months.
About Rabo Corporate Investments
Rabo Corporate Investments (rabocorporateinvestments.com) is Rabobank’s investment franchise. It has invested over €1.4 billion worldwide within its focus sectors Food & Agri, Sustainability, and Healthcare in the Netherlands and within the Food & Agri worldwide. These investments range from growth capital for innovative start-ups and scale-ups to (co-)investments in established companies and funds.
Curious about the possiblities?
Get in contact with
I’d love to hear more about your plans to see how IGS can assist. Even if your project is in the earliest stages, we are more than happy to share our expertise, so don’t hesitate to reach out.