MECAL High-tech/Systems

Richard Jungman

Richard: "If I were to describe in three words what we do, it would be this: 'controlling critical conditions'. For instance, we collaborate extensively with chip manufacturing company ASML. Producing chips at the nanometer scale requires highly precise and stable systems. Additionally, in earthquake-prone countries like Japan and Taiwan, seismic waves can be a factor. All of this needs to be designed and managed to minimize downtime.

Leveraging our expertise in engineering and operational conditions in the high-tech sector, we ensure that these machines are minimally sensitive to vibrations, temperature fluctuations, and other disturbances. It's highly specialized work that we also carry out for all leading developers and users of such machines, including with our own MECAL HTS OEM products on a global scale."

MECAL, as an engineering firm, has been actively engaged in the design of advanced wind turbine technology and patented towers. The other three shareholders of MECAL possess a strong background in the wind sector, and MECAL enjoys a well-established reputation. When one of the shareholders opted for early retirement, we deliberated our options. Ultimately, this served as the foundation for the initiative to spin off our high-tech division – the area I primarily oversaw – into an independent entity and offer shares for sale.

For this sale, we ultimately engaged Rembrandt M&A. Other acquisition advisors we consulted with felt that our customer base was too small, but one must acknowledge that there aren't many companies like ASML. Consequently, we are not merely a supplier but truly a co-maker. Rembrandt understood that this presented an investor with the opportunity to enter the semiconductor market's supply chain at a high level in one stroke. This understanding formed a solid foundation from the outset.

Furthermore, this process involved four shareholders, each with their own agendas and plans. A retiring shareholder naturally has different interests than one intending to continue for some time. Here is where the strength of Rembrandt came into play. Advisor Wilbert van Gerwen adeptly navigated the dynamics of these four assertive personalities, expertly supported by his team, effectively steering the course. He demonstrated an acute understanding of how to handle each individual's standpoint, ensuring no one felt marginalized.

Even in finding a suitable partner, Rembrandt demonstrated his value. Initially, negotiations commenced with a potential buyer, but ultimately, it didn't feel right. When I stepped back, Rembrandt adeptly smoothed over the resulting wrinkles. Subsequently, we engaged in discussions with VADO, a highly professional investment firm based in Eindhoven, specialized in the tech and manufacturing industries. We instantly connected with them; they exhibited genuine interest in our business and afforded me considerable autonomy to continue entrepreneurship on my own terms, as a minority shareholder. To this day, they have upheld that promise. We are truly building something remarkable.

The advisors involved in this intricate process proved to be both highly skilled and incredibly amiable. Particularly within this intricate landscape, within a specialized industry, and with various interests at play, that combination proved invaluable to us."

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