idverde announces the acquisition of BTL, Holland’s market-leading green services provider. BTL has principal operations in landscape construction and grounds maintenance. This is idverde’s largest deal to date and provides an opportunity for BTL to develop its domestic strategy further.
idverde has an annual revenue of €500m and employs over 5,400 colleagues. It already has a strong footprint through leading markets in France and the UK. The latter of these has recently announced its entry into Ireland. The group is now entering the Dutch market through the acquisition of BTL. It has the aim of pushing forwards its consolidation strategy. This has already proven successful in its domestic countries.
With 400 colleagues, BTL has annual revenues of €70m and delivers services across Holland from 15 branches. BTL’s main services cover landscape construction, grounds maintenance and arboriculture. BTL’s CEO, Olaf Janssen and CFO, Sandra Eremita, will both continue in their roles. The pair will focus on their strategic aims to develop the Dutch market further.
Herve Lançon, president of idverde commented:
“This acquisition confirms idverde’s capacity to lead the consolidation trend across Europe. Entering the Netherlands allows the group to access a complementary territory and learn from Dutch landscaping culture. Operating in the world’s leading plant and flower producing country was an obvious move for idverde and will benefit the entire group. This is only the next step in the wider development project of the group. The group remains ready for further development opportunities.”
Olaf Janssen, chief executive of BTL and former owner added:
“I cannot think of a better home for the future of BTL and its valued employees. This operation is a great opportunity for all stakeholders. The cultural and strategic fit is extraordinary. Both companies are green specialists; both companies are passionate about developing their people. And, both companies want to improve the value and quality they can offer their customers. I am extremely proud of what the BTL team has achieved. We are all convinced that the journey within the idverde family will be even more exciting”.