First Dutch, together with Standard Investment (SI), acquires Verwater. Verwater is a leading company in the construction and maintenance of petrochemical storage tanks and technical infrastructure. The transaction is still subject to approval by the Netherlands Authority for Consumers and Markets (ACM).

Verwater, originally a family business from Rotterdam with a rich history, distinguishes itself through its technical expertise and wide range of services in tank construction and maintenance. These core qualities have made Verwater an important player in the ARA region (Amsterdam-Rotterdam-Antwerp), the largest petrochemical hub in Europe with an estimated storage capacity of 40 million cubic meters. The company provides services to a diverse group of major energy and storage companies.

Peter Goedvolk, owner and CEO of First Dutch, is enthusiastic. “The combination of Verwater’s expertise and our joint experience in the (Rotterdam) energy sector provides a solid foundation for further growth and innovation. Together with Standard Investment and Verwater’s management team, we are determined to enter the next phase and strengthen their leading position in the market.”

Verwater will continue to operate under the leadership of the current management team, which will continue the successful strategy of the past two years with the support of Standard Investment and First Dutch. Marloes Oude Breuil, CEO of Verwater, adds: “We are excited about the future of Verwater and the collaboration with our new partners. With their support, we can further strengthen our customer proposition and continue to respond to the challenges in the market, especially in the context of the energy transition.”

Verwater is a global contractor for industrial and petrochemical installations, specializing in tank maintenance and construction. They also offer services such as tank jacking, civil works, piping, turnarounds, painting, E&I, E&A, panel building, and engineering. Verwater was founded in 1922 and has a long history in tank terminals and refineries. Today, approximately 1,200 experienced employees work for Verwater worldwide, generating an annual turnover of around € 200 million.

October 2024