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 PGS Group acquires stake in Belgian IDE sawmill
[Jan 31, 2024]

Kumulus Partners acted as the exclusive financial adviser of the shareholders of Ide Group in the sale of a co-controlling stake to PGS Group.

Through its subsidiaries Ide Woods and Solid, the family-owned group is one of the largest wood processing companies in Belgium, processing around 120k m³ of roundwood into sawn wood each year, and producing wooden garden constructions (sheds, carports, бн ). The group has also invested in a state-of-the-art finger jointing facility to create added-value wood products.

PGS Group, a leading provider of both new and second hand wooden pallets, has been a customer of Ide Woods since many years, and saw this transaction as an opportunity to expand its production capacity with a very efficient and flexible wood processing plant and to enter the garden constructions market. The transaction will generate a partnership between PGS and the Ide family ideally positioned to further develop Ide Woods, Solid and PGS itself.

Kumulus Partners advised Steve and Peter Ide, the shareholders and management of Ide Group, in this transaction: Kumulus handled all contacts with PGS, managed the due diligence process and led negotiations within a short timeframe, leading to an attractive result both on the terms of the sale of a co-controlling participation in Ide Group, and the future cooperation between the family and PGS Group.

Source: kumuluspartners.com