Half year results Ballast Nedam: Challenge to Improve pays off
The acquisition is effective as of 1 September 2019. Ballast Nedam is a Dutch based civils and specialist contractor with a fantastic reputation for delivering construction projects for a wide range of high profile clients. Ballast Nedam are also a leading provider of car park structures in the Netherlands and whilst they do have existing internal design capability, the acquisition of Stripe provides a significant increase in design capability. The acquisition has also been structured in a way to ensure Stripe can continue to provide impartial and unbiassed advise to its clients and maintain its core objective of consulting on the best approach for each individual project and situation. Russell Simmons, Managing Director of Ballast Nedam Parking Ltd:
"I am really pleased with this strategic move by both Stripe and Ballast Nedam as it will enable both companies to bring even better value to their clients and also reach a wider client base without compromising the quality of their individual offering. I am also very excited to be appointed as Managing Director at Ballast Nedam Parking Ltd. and very much look forward to working towards achieving the goals and objectives of the business.”
This acquisition fits in with Ballast Nedam NV's (international) product-oriented growth strategy. Thom Hienekamp, Director of Ballast Nedam Parking: “As a leading company in the Netherlands in the field of parking, by the acquisition of Stripe we can also deploy this expertise in the United Kingdom."
Özgür Canbaş, member of the Management Board at Ballast Nedam: “This deal marks Ballast Nedam Parking’s entry to the UK market. Stripe is a high growth, dynamic business and fits well to our strategy to grow our core businesses in size and profitability.”