Gimv has acquired a 25 percent interest in ARS T&TT, a leading player in the Netherlands in Intelligent Transport Systems. The remaining shares will continue to be held by the CEO-founder Jan Linssen. In partnership, both shareholders will fully focus on growth and leverage the company’s current expertise for further international expansion. No further financial details will be published about this transaction.
ARS T&TT (www.ars.nl) was founded in 1998 by Jan Linssen and was a pioneer in its field by starting operations in India as early as 2000. The company designs, develops, implements, operates and maintains Intelligent Transport Systems (ITS). These integrated solutions include traffic monitoring, traffic management and tolling. The company’s expertise and focus on growth have led to winning contracts for Nationale Databank Wegverkeersgegevens (NDW), Nederlandse Spoorwegen (NS), Rijkswaterstaat, Trafikverket (Sweden) and Bharat Petroleum Corporation Limited (BPCL), one of the three largest oil companies in India.
The global ITS market is expected to show double digit growth based on strong long term underlying drivers such as increasing mobility, the need for reduction of congestion costs and greenhouse gas emissions, increasing traffic safety as well as the cost effectiveness of ITS solutions compared to new infrastructure.
ARS T&TT employs 160 FTEs in total with its headquarters in The Hague (The Netherlands) and a strong base for growth in Asia via its office in Trivandrum (India). In 2012 the company expects to achieve sales of about EUR 24 million. The goal is to double the company in size over the next five years, both in terms of turnover and cash flow.
Jan Linssen, CEO of ARS T&TT: "Forming a partnership with Gimv was a deliberate choice. Gimv’s expertise, international network and the click with the team were key in making this choice. I look forward to continue our international expansion together with them."
Sander van Vreumingen, Executive Investment Manager Buyouts & Growth Netherlands at Gimv: "We have been studying the ITS sector for some time and are impressed by ARS T&TT’s entrepreneurial and experienced management team, its deep ITS expertise and its track record in winning contracts. Moreover, we are excited about the company’s potential to benefit from the expected growth in Europe as well as in Asia. Partnering with ARS T&TT fits very well with Gimv’s investment focus and we look forward to accelerate the international growth in a partnership with the management team.”
To read the full press release, please go to www.gimv.com.