January 8, 2024
Compact Bidco B.V.
A. van Leeuwenhoekweg 38 D2
2408 AN
Alphen aan den Rijn
The Netherlands
Alphen aan den Rijn, The Netherlands.
Compact Bidco B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands (the “Company” and together with its subsidiaries, the “Consolis Group”) has entered, through its Dutch subsidiaries Spanbeton Onroerend Goed B.V. and VBI Koudekerk B.V., into a sale and leaseback transaction with DHG (David Hart Group) regarding one property in The Netherlands. The initial duration for the lease is 15 years, which can then be extended at the tenant’s option.
VBI group will as part of this transaction invest in a new factory at the property which is the subject of this sale and leaseback transaction. The new factory will allow for improved capacity and efficiency, and will be a crucial stepping stone in building on VBI group’s local market leadership in the Dutch market for prefabricated concrete elements. The factory is expected to be fully up and running during 2027. In connection with this transaction, lessee and lessor will cooperate in the development and the investment of the new factory. To accommodate for this, VBI group will rebalance its current sites’ capacity in the Netherlands and obtain a termination indemnity in relation thereof from the current landlord to invest in this new factory.
The transaction adds approximately €30 million of liquidity to Consolis Group. The annual rent for the property will be €2.3 million and paid quarterly in advance.
The Consolis Group keeps monitoring market conditions, and may consider from time to time entering into other strategic transactions in order to further improve its liquidity.
This announcement may include projections and other “forward-looking” statements within the meaning of applicable securities laws. Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company’s or its industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. You should not place undue reliance on forward-looking statements and the Company does not undertake publicly to update or revise any forward-looking statement that may be made herein, whether as a result of new information, future events or otherwise.
