Transaction summary

ROTTERDAM, May 3, 2018 – Stedin Group and Koninklijke VolkerWessels will sign a provisional purchase agreement for the acquisition of Joulz Energy Solutions (“JES”). The plan is for Visser & Smit Hanab, part of VolkerWessels, to become the owner of JES from 1 July 2018. The acquisition gives JES a powerful new owner, and its 160 employees retain their jobs. Financial terms of the transaction were not disclosed.

Official press releases: Stedin and VolkerWessels

Emendo Capital acted as exclusive financial adviser to Stedin Group.

About JES

JES is a market leading player in design, construction and maintenance of complex medium and high voltage infrastructure and installations. JES is one of the few players in the market capable of offering integrated electrification solutions to its clients.

For additional information on JES, visit jes.nl.

About Stedin Group

Working together towards a world full of new energy. This is the goal that the approximately 4,500 employees of Stedin Group are striving to achieve every day. We believe that it is our responsibility to ensure that all our customers have access to the sustainable energy they need to live, work and conduct business. Stedin Group is increasing the sustainability and maintaining the robustness and affordability of the energy system. This is achieved through the combined efforts of grid operators Stedin (provinces of Zuid-Holland and Utrecht) and Enduris (province of Zeeland) and the experts of infrastructure companies Joulz and DNWG Infra.

For additional information on Stedin Group, visit stedingroep.nl.

About Visser & Smit Hanab

Visser & Smit Hanab, a VolkerWessels subsidiary, is a specialist in above-ground and underground pipelines and cable infrastructure with an increased focus on the energy transition. VS&H develops, builds and maintains technologically sophisticated and sustainable links, networks and installations for water, energy, chemical and petrochemical production.

For additional information on Visser & Smit Hanab, visit vshanab.nl.