Signing agreement (from left to right) Koen Verstegen, Mirjam van Dijk en Aart Fortanier. In front: Jan de Wringer.
VADO expands position in the food industry through acquisition of Orangeworks
Eindhoven, 11 October 2022 – Long-term investment company VADO Beheer has acquired Orangeworks (Oss, the Netherlands). Orangeworks develops and produces high-quality process installations and production equipment for numerous renowned FMCG producers worldwide. With this takeover, VADO further expands its position in mechanical engineering for the food industry.
Founded in 1970, Orangeworks, formerly Staalwerk Mill, has grown in recent decades into a high-quality supplier of process technology and industrial automation for market leaders in the chocolate and confectionary industry. In 2020, Orangeworks acquired Tanis Food Tec. Together, they have built a strong international position in this market as a partner for sweet and confectionary, chocolate and cacao, and the bakery industry. Orangeworks expects to reach a turnover of over € 40 million in 2022. Koen Verstegen, CEO Orangeworks, and Mirjam van Dijk, CCO Orangeworks and Managing Director of Tanis Food Tec, will become co-shareholders and will form the new management board.
VADO is a long-term investor and focuses on promising companies in the manufacturing industry. VADO’s group of companies are active in the areas of high tech and semicon, food and pharma, automotive and (intra)logistics, and energy and energy transition. Combined, these VADO companies have a wide range of competencies to provide clients with integrated products and services at a high quality level. Orangeworks is an important expansion in the food industry segment. In this segment, VADO is already active with, among others, Verhoeven Family of Companies, which is also based in Oss.
Aart Fortanier, CEO of VADO, is happy with VADO’s addition of Orangeworks. “We connected through mutual networks and it soon became clear that there was a good fit. It is a well-respected company that counts renowned international brands among its clientele. The experienced management and involved employees are already fully engaged in seizing international growth opportunities. With VADO’s support, this process can be further accelerated.”
Under the leadership of Jan de Wringer, Owner and major shareholder of Orangeworks since 2005, Orangeworks has professionalised and has become an international player. De Wringer is pleased to have VADO as the new owner: “VADO can continue the trend of growth while maintaining Orangeworks’ core values. VADO’s style matches strongly with that of Orangeworks”.
Koen Verstegen, CEO of Orangeworks, is also excited about this new phase for Orangeworks. “We have developed strongly in recent years in the field of integrated process lines for the processing and preparation of sweets and confectionary as well as liquids in the food industry. Based on our process knowledge, engineering and production qualities, we can offer total solutions from the very first design up to the construction, installation and periodic installation maintenance. Under the wings of VADO, we can further develop our portfolio of activities and continue to grow internationally.”
Mirjam van Dijk, CCO of Orangeworks and key growth driver of Orangeworks and Tanis Food Tec, sees great opportunities with VADO as the new owner. “Orangeworks has a lot of potential in the market. Being combined with the group will make us even stronger.”
Orangeworks has been designing and building process plants for the international food industry for more than 50 years. The company is located in a new, state-of-the-art factory (over 10,000 m2) in Oss and in Lelystad, where the company’s technology centre is also located. In 2020, Orangeworks acquired industry peer Tanis Food Tec (TFT). The combination of Orangeworks’ engineering and production quality and TFT’s process knowledge has given Orangeworks a powerful position in the market. Orangeworks provides custom solutions for confectionary, chocolate and cacao, and bakery production. It has grown significantly in recent years and employs approximately 120 permanent employees.
More information: www.orangeworks.nl