Rotterdam-based tank builder Verwater has been acquired by investment firms Standard Investment and First Dutch, the latter being the investment company of port entrepreneur Peter Goedvolk. Previously, Verwater was wholly owned by private equity firm CVC Capital Partners.

Verwater, a specialist in industrial and petrochemical installations, has faced significant financial challenges due to losses on major projects. Originally a family business for over 90 years, the company saw a leadership change in 2013 when Paul Verwater stepped down. Since then, Verwater has changed ownership multiple times, with CVC taking over in 2022.

The company operates primarily in Europe's largest petrochemical region, serving a diverse array of international energy and storage companies. It has locations in Rotterdam, Amsterdam, Antwerp, Groningen, and Emmen.

Standard Investment and First Dutch, the new investors, see significant potential for further growth and innovation, leveraging Verwater's expertise and their own experience in the energy sector. Looking ahead, there are promising opportunities for growth driven by the energy transition.

We acted as lead legal counsel to Standard Investment and Verwater Group, advising them on the leveraged financing for this acquisition. For more information about this deal, please contact our team members who advised on this transaction.