Investindustrial VIII SCSp and its affiliates have agreed to acquire Kiremko Group BV, Idaho Steel Products, Inc., and Reyco Systems, Inc. The three companies design and manufacture customized equipment and solutions for the food processing industry, with a strong focus on potato processing systems.
Kiremko, founded in 1965 and based in Montfoort, the Netherlands, has worked in partnership with Idaho Steel, established in 1918 in Idaho Falls, and Reyco, founded in 1975 in Caldwell, Idaho, since 1996. Together, the group supplies processing systems to more than 300 customers in over 50 countries, producing equipment for frozen French fries, hash browns, potato flakes, and other products. The companies employ more than 450 people across the Netherlands, the United States, India, and China, and reported a turnover of more than US$200 million in 2024.
© Kiremko
Andrea C. Bonomi, Chairman of Investindustrial's Industrial Advisory Board
The planned investment is intended to further integrate the companies and build a broader global food and beverage equipment platform. Growth is expected both through expansion in current markets and potential entry into adjacent equipment categories.
Investindustrial has prior experience in industrial automation and food and beverage equipment, with portfolio companies generating around €1.5 billion in revenue in the automation sector and €8.2 billion in the food and beverage sector as of December 2024.
Kiremko is currently owned by Paul Oosterlaken and Andy Gowing, while Idaho Steel and Reyco are owned by the Bradshaw and Christensen families. Following completion of the transaction, Investindustrial will acquire 100% of all three companies.
The acquisition remains subject to customary regulatory approvals. Investindustrial was advised by Baird (financial advisor), Skadden, Arps, Slate, Meagher & Flom, and Houthoff (legal advisors). The sellers were advised by Rabobank (exclusive financial advisor) and DLA Piper (legal advisor).
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Paul Oosterlaken, Director of Kiremko
Andrea C. Bonomi, Chairman of Investindustrial's Industrial Advisory Board, said the transaction would support the integration of the three companies and strengthen their global market position. Paul Oosterlaken, Director of Kiremko, noted that the sale reflects a commitment to building a stable future for employees, customers, and stakeholders.
For more information:
David Sturken
© KiremkoTel: +44 (0) 7990 595 913
Email: [email protected]
www.kiremko.com
Jonathan Cook
Tel: +44 (0) 7730 777 865
Email: [email protected]
