EMI, the leader in integrated solutions and services for industrial access in Romania, announces the complete takeover of Decran, a Belgian company specialized in the production and installation of industrial steel doors.
This is the second M&A transaction carried out by EMI in Belgium after acquiring the majority stake in the Access System at the beginning of March.
“With this transaction, we are taking another step in achieving the long-term goal of becoming the go-to one-stop-shop for total industrial solutions and complex technical projects in Romania and Europe. Decran is a financially stable company with its own state-of-the-art products and with high development potential. A month ago, we announced the acquisition of Access Systems, through which we consolidated our presence in the Wallonia region. Today, with the acquisition of Decran, we are entering the Flemish region, and, as a result, our industrial access solutions and services will cover the entire Belgian territory. I would like to welcome the new colleagues to the EMI team. I am confident that we will develop best practices in industrial access with them and the colleagues in Access Systems. We will achieve synergies that will benefit clients both from the point of view of the final costs and the quality provided,” stated Jerome France, founder and CEO of EMI.
Decran has been present on the Belgian market since 1996 and is specialized in the production and installation of fireproof and non-fireproof steel doors for indoor and outdoor industrial use. The doors are produced in the company’s production plant based in Slovakia, after which they are transported to Belgium and installed at the company’s clients, who are predominantly from the Flemish region. The company has 37 employees, 20 of whom are based in Belgium, while the rest of them work in the plant from Slovakia. Decran’s client portfolio mainly includes industrial builders such as Alheembouw, Willy Naessens, and Cordeel. The company also serves a wide range of factories and warehouses in the Flanders region.
The investment in Decran is a strategic one for EMI which from now on will focus on cross-selling between Romania and Belgium, entering new verticals, and offering clients a full range of services, from design and production to maintenance services. Decran will continue to operate in Belgium under its own brand, and the founder, Lode Decraene, will remain involved in the company’s day-to-day business for at least a year to complete the transition process.
In 2021, Decran had a turnover of 5.4 million euros. On the other hand, EMI recorded revenues of approximately 14 million euros in 2021, an increase of 23% compared to 2020. The company estimates that amid the accelerated development of logistics projects in 2021, clients in the industrial and logistics area will remain the main growth vectors in the coming years. In 2022, EMI targets total revenues of 22 million euros, including the turnover generated by Access Systems and Decran.
Regarding the international expansion of EMI, the group recently appointed Charles Colle as Head of International Expansion. Charles is an executive who over the last 11 years, acquired experience in both the food and real estate industry in Belgium, working mainly on business development & financial restructuring projects. His commercial mindset, structured approach and Belgian network put him in the ideal position to further grow EMI in Belgium. Also, Charles will be responsible for the company’s activities in the foreign markets that EMI has already entered or intends to access in the future.
“I look forward to building a second market for EMI, fully leveraging the individual strengths of all three companies, the expertise of Morphosis and other investors, and foremost the experience and network of the group CEO Mr. Jerome France,” stated Charles Colle, Head of International Expansion at EMI.
EMI has 22 years of experience in the Romanian market, specializing in industrial access solutions – doors, gates, shutters, curtains, fences, and other industrial enclosures. The company has 80 employees and provides integrated solutions for global access solutions for the industrial, commercial, and logistics sectors, from consulting, design, manufacturing, assembly, maintenance, and service. At its factory in Căteasca, EMI also develops unique technical solutions adapted to client needs.
DC Corporate Finance assisted EMI in the financial due diligence phase, while the law firm, Astrea, assisted the company in all legal and tax aspects of the transaction.
In September 2021, EMI announced the entry into the company’s shareholding of the private equity fund Morphosis Capital, which, together with the fund’s investors, acquired a 51% stake in the company for 15 million euros.