BAM announces strategic acquisition of Dutch prefabricated facade producer HSL/GNH
Bunnik, the Netherlands, 4 March 2021 – Royal BAM Group (through its subsidiary BAM Bouw en Vastgoed Specials) will acquire all shares of Houtindustrie Stam & Landman bv (HSL) and Gevelelementen Noord-Holland bv (GNH) from the current owners. The parties will not make any statements about the purchase price.
HSL and GNH are leading producers of complete, prefabricated wooden facade elements, and have been trusted suppliers to BAM for 25 years. Located in Heerhugowaard, the Netherlands, the combined businesses employ approximately one hundred employees, with annual turnover over €20 million.
HSL was founded in 1983 as a specialist producer of wooden window frames and doors and established Gevelelementen Noord-Holland in the mid-1990s to produce facade elements for housing projects. Both businesses have been a strategic partner of BAM’s Dutch residential division BAM Wonen for 25 years. In 2018, BAM and HSL/GNH jointly invested in an innovative bricklaying robot system to clad prefabricated facade elements with brick slips for renovation projects.
Ruud Joosten, CEO Royal BAM Group nv: ‘The acquisition of our trusted partners HSL and GNH is part of the strategy that BAM has set out for the coming years. This step allows us to leverage our expertise in sustainability, digitisation, modular and industrial construction activities. In the Dutch residential building market, activities are shifting from the construction site to manufacturing locations under controlled conditions. Further integrating the prefabricated modules in our innovative design and construction processes (‘conceptional building’) enables us to scale up our sustainable solutions more quickly to meet the wishes of clients and residents. In this way, BAM is responding to the increasing market demand for affordable homes.’
Edward Zandbergen, managing director HSL/GNH: ‘In recent years, BAM has proven itself as a reliable, innovative and collaborative partner for HSL/GNH. This transaction offers our company and employees the opportunity to develop further because BAM operates in a number of geographies and wants to further grow its leading position in the Dutch housing market. Together we can ensure the continuity of our companies and safeguard the employment of our people.’
Further information
- analysts: Michel Aupers, +31 (0)30 659 87 07, michel.aupers@bam.com;
- press: Niels van Dongen, niels.van.dongen@bam.com, or Arno Pronk, arno.pronk@bam.com, +31 (0)30 659 86 23.