On 17 July, 2019, Amsterdam based investment company Egeria reached an agreement with the Japanese manufacturing conglomerate Air Water Inc. on the sale of 100% of the issued shares of Hitec Holding B.V. Egeria had been the majority shareholder since July 2012.
Hitec develops, manufactures and delivers emergency power supplies to ensure uninterrupted and continuous electricity for mission-critical processes in the event of a power outage. Clients include datacenters, semiconductor producers, hospitals, airports and financial institutions. In 2017, Hitec was involved in the construction of the power supply in Amsterdam’s Gaasperdammer tunnel. Hitec is headquartered in Almelo, the Netherlands and has branches in the US, UK, Spain, China, Singapore, Malaysia, Taiwan and Russia. The company employs about 270 people. Last year, it reported a turnover of € 102 million.
The Baker McKenzie M&A team that advised Egeria on the acquisition consisted of Casper Banz, Mo Almarini, Joost Polman, Niels Matze, Renate Bik, Koen Bos, Willem Jan Treuren, Christiaan van der Meer and Derk Christiaans. In addition, many colleagues from the Amsterdam office as well as other offices assisted in conducting the vendor due diligence for this transaction.