STATUS
Investment since 2020
SECTOR
Testing equipment
REVENUE
30 million euros
- Focus on limited segments
- Expansion to new segments and own foreign operations (France & Germany)
- 4 acquisitions in short timeframe
Over many years, Rycobel had built up a solid foundation as a distributor and service provider of measuring and testing equipment. However, the company had a rather conservative approach and had never ventured far beyond their existing product portfolio in pursuit of growth. Together with their management team, Dynamica gave that growth new impetus. An active buy & build approach expanded the company’s portfolio in existing and new segments and explored new markets, producing a quantum leap.
Actions taken
Rycobel made several acquisitions in order to expand its operations. In June 2021 they took over IB Walther, a distributor in Germany, as well as Metil, a Belgian specialist in weighing systems. In October 2021 the group was joined by MacBen/Gijko, the benchmark for measuring equipment throughout the Benelux construction industry. June 2022 saw the acquisition of Optimus/ELS, active in the pharmaceutical and petrochemical industry in the Benelux and France.
To ensure a smooth growth and streamline operations, a strong management structure was set up, with integration of all the new operations. The organisation’s HR and Technical Service were strengthened as well.
To reinforce Rycobel’s German presence, they established a country-specific organisation. France was provided with its own organisation as well. The ultimate goal – besides selling products – is to set up a European service division with its own team, providing services to customers of all Rycobel’s divisions. Rycobel is determined to establish itself as a leading European player in the areas in which it operates.
The company is also rolling out a new ERP system for all its operations to further streamline operations and improve efficiency, and integrates various ISO 17025 accreditations throughout its organisation.
Results
Rycobel’s revenue grew from EUR 10 million in 2020 to EUR 30 million in 2022. Thanks to the establishment of a central backbone, it is possible for a single organisation to serve different sectors, with strong technical support.