Dordrecht, the Netherlands, 30 April 2018 – Trust Holding N.V. and Egeria have reached agreement on the acquisition of 100% of the shares of the consumer electronics manufacturer by the investment firm. Trust was founded by Michel Perridon (55) in 1983 and has become a leading producer of consumer electronics. The financial details will not be disclosed.
Mark Wetzels from Egeria says that Trust owes its prominent position to its customer focus, speed of new product introductions and the company’s enterprising culture, among other things. “Trust has shown in recent years that it has the right qualities to operate very successfully in the dynamic market in which it is active. For example, Trust Gaming has become a household name among gamers internationally in a short time, due in part to its close relationship with various eSports teams and influencers.” Egeria’s knowledge, experience and network are expected to contribute to achieving Trust’s growth ambitions.
Michel Perridon is excited about the transaction, as he expects Egeria to play a major role in the organisation’s further development. “It was important to me that the new owner would share Trust’s commercial DNA and continuous pursuit of operational excellence. That is certainly the case with Egeria, and I am confident that they will work closely together with Trust management to continue to propagate Trust’s commercial vision and innovative character.”
Trust’s Board of Directors will maintain its active role within the company. They are also positive about the acquisition, says Trust CEO Michel Hoekstra. “We immediately connected with Egeria. The mutual trust has only grown stronger as the process progressed. I am confident that the two companies’ shared vision and ambitions guarantee a bright future for Trust.”
Trust is a leading value-for-money-brand for digital lifestyle accessories which offers a wide range of products within the sub-brands Trust PC & Laptop, Trust Mobile, Trust Gaming and Trust Smart Home. Trust’s products are sold in specialist stores, large retailers, electronics chains and online stores in over 50 countries. Trust has an annual turnover of €130 million and employs 220 people in branches in five countries. For more information, please visit www.trust.com
Egeria is an independent Dutch investment company founded in 1997, which focuses on medium-sized Dutch companies and companies with a Dutch connection. Egeria invests in healthy companies with an enterprise value between €50 million and €350 million. Egeria has investments in companies such as IQI, Dutch Bakery, Clondalkin, Dynniq, Ilionx, HITEC, Izico, JET Group, and Nooteboom. Egeria’s portfolio companies have a combined turnover of over €2.3 billion and employ close to 10,000 people. Egeria was elected winner of the NVP ESG Award by the Private Equity and Venture Capital Association of the Netherlands (NVP) in 2017. For more information, please visit: www.egeria.nlPress releases