Doedijns International acquires Wilmax as part of global expansion
In December 2011 Doedijns International BV (Doedijns), supported by its shareholder IK Investment Partners (IK), completed its acquisition of Wilmax Control Systems ltd. (Wilmax), a Singapore based engineering company specialising in control automation, valve automation and process packages for the oil, gas and petrochemical industries.
Wilmax, which has facilities in Singapore, Indonesia and Dubai, provides control automation, valve automation and process packages for the oil, gas and petrochemical industries in the South East Asian and Middle Eastern markets. The technologies developed and produced by Wilmax are complementary to those provided by Doedijns, which also provides engineering solutions in the area of hydraulics, instrumentation, pneumatics and control systems.
The combination of the two specialist firms will create a global company with a local presence in key growth markets, allowing Doedijns to introduce its proprietary technologies to Wilmax's extensive client base, and giving Wilmax's client base access to Doedijns network.
Founded in 1989, by William Toh in Singapore, the firm has grown to be the market leader in several of its technologies in South East Asia and the Middle East. Mr Toh will remain as Managing Director of Wilmax after the acquisition and will become a shareholder in the combined group.
Juul IJzermans, Doedijns Chief Executive Officer, commented: 'We are delighted to be able to announce this acquisition just three months after our deal with IK. It is a significant step in our plans to develop market leadership in these rapidly expanding sectors. The Wilmax acquisition will give us a strong foothold in the fast developing economies of South East Asia, and complement our existing Middle Eastern operation in Dubai and will provide our clients worldwide an excellent portal to state of the art control and actuation systems supported by a dedicated service team.'
William Toh, Managing Director Wilmax, said: 'We believe that the acquisition by Doedijns puts us in the best possible hands for future development, and we are keen to begin the process of integration to ensure that we extract maximum synergies from combining our two businesses.'
Remko Hilhorst, IK Deputy Director, added: 'For Doedijns, the acquisition of Wilmax is a great start of the execution of management's growth ambitions. We will continue to look for opportunities to develop the business further in what is an increasingly global market.'
The acquisition financing was provided by Rabobank and ABN AMRO. Clifford Chance and Deloitte advised Doedijns, KPMG and RHT Law were the advisors on Wilmax side.
Juul IJzermans, CEO Tel: +31 182 30 28 88
William Toh, Managing Director Tel: +65 6546 7997