Stratfield in Zwolle: Werken aan waarde voor aandeelhouders

Stratfield supervises Eshuis share transfer

Peter Overbeek had already been CEO of the Eshuis Packaging Printing business for 20 years when major shareholder Peter Eshuis died. This meant that Overbeek, who already owned 30% of the shares, had the opportunity to acquire the remaining shares. But what was Eshuis worth? How should the negotations proceed? And how was Overbeek to fund the acquisition of shares? He asked Stratfield to assist him with the deal. ‘I was looking for a professional party with the necessary expertise, but also a committed and loyal partner with integrity.’

Peter Overbeek’s challenge

Overbeek: ‘When I got the opportunity to acquire all the Eshuis shares, I was more than interested. As sole shareholder, I was in a position to take steps to safeguard the continuity of this wonderful company and to help it grow. But I didn’t know if it was financially feasible to acquire the shares. I asked Stratfield to make a financial calculation. On the basis of the annual accounts and Eshuis’s long-term plan, they determined the value of Eshuis. They also calculated that I could fund this amount with an external party and a bank loan. I subsequently entered into the acquisition process with Stratfield.’

 Stratfield’s approach

‘Stratfield conducted the talks with the representatives of the Eshuis family for me and the negotiatons about the value of the shares. When contact with the selling party proceeded less smoothly than expected, Stratfield put me in touch with an excellent lawyer for legal support. In the end, we signed a settlement agreement with the Eshuis heirs in May 2018, defined the purchase price of the shares and completed the negotiations regarding the property of the company. In December 2018, I officially acquired the shares and on 1 April 2019, I bought the property.’

 The search for a suitable financier.

‘As I said, I could only fund the acquisition of the shares and the property with the assistance of an external party. For this reason, Stratfield entered into discussions with banks, subordinated loan funds and private equity houses at an early stage. In the end, we concluded that Wadinko was the most suitable party to ensure the success of the deal. Leendert Stam already knew Wadinko and knew that Wadinko and Eshuis would be perfectly compatible with each other.’

 Negotiations for the perfect deal

‘Already during the first presentation to Wadinko, Stratfield appeared to be right. Wadinko went along with my ideas, strengthened my aspirations and Wadinko’s fine reputation makes our company sustainable, better and more sound. On top of this, collaboration with Wadinko ensured that it was easier for me to obtain a bank loan to fund the acquisition. For the continuity of Eshuis, the collaboration with Wadinko was the best option. It is also feels good that this party has become my partner with 40% of the shares. In addition, Stratfield conducted the negotiations astutely and concluded the perfect deal with Wadinko.’

‘Thanks to Stratfield, the deal was done’

 Working together as a close team

‘Looking back on the collaboration with Stratfield, I can only conclude that the successful acquistion of the shares and property had everything to do with mutual trust. Richard Zwart and Leendert Stam acted in a professional and competent way and were continually contributing ideas and solutions. They are solution-oriented, approachable, hands-on, committed and extremely trustworthy and loyal. The fact that we concluded the deal without a collaboration contract speaks for itself as far as I’m concerned. Together with the lawyer, we acted as a close team with the same goal in mind. We had many discussions, coordinated various issues and, at tense moments, unravelled problems in close consultation with each other. And, thanks to the commitment of Stratfield, I entered into the collaboration with Wadinko. Now I can take new steps towards a bright future with Eshuis.’

 For Peter Overbeek, Stratfield

  • Calculated the financial feasibility of the acquisition of shares;
  • Conducted the talks with the selling party;
  • Negotiated on the purchase price with the selling party;
  • Provided the required legal support;
  • Searched for and found the most suitable financier;
  • Conducted the negotiations about the collaboration deal.