TowMotive strengthens market position with the acquisition of Westfalia Benelux

TowMotive, a leading player in the automotive industry, has successfully acquired Westfalia Benelux. This strategic acquisition not only enhances TowMotive’s competitive position but also lays a solid foundation for future growth. Orchard Finance supported the company throughout the entire acquisition process.

Strategic rationale for the acquisition

The acquisition of Westfalia Benelux represents a logical step in TowMotive’s growth strategy. The owners of both companies had known each other for some time, and after initial exploratory discussions, the process quickly gained momentum. Both parties engaged advisors to support the transaction, with TowMotive enlisting Orchard Finance following a recommendation from their network.

Collaboration and challenges

The acquisition process involved various components, including valuation, due diligence, and financing. Orchard Finance provided comprehensive guidance and support to TowMotive across all stages:

• Negotiations and LOI: Establishing a clear framework through a Letter of Intent (LOI) was a crucial first step. This provided a strong foundation for negotiations and facilitated a smoother progression towards the closing.
• Financing application: Orchard Finance prepared a tailored financing application, led negotiations with the bank, and compiled the necessary documentation.
• Project management and closing: The team managed the entire process through to the successful completion of the transaction.

Andy Conserière, Managing Director of TowMotive, explains:
“Orchard Finance guided us professionally through every stage of the process. They know exactly which steps are needed to reach an agreement and took a significant amount of work off our hands. Moreover, they prioritised maintaining strong relationships and ensured transparency in their communication.”

A successful outcome

With the acquisition of Westfalia Benelux, TowMotive has not only reinforced its position in the market but also paved the way for further growth. Reflecting on the process, Eelco van de Lustgraaf, partner at Orchard Finance, remarked:
“We look back on a successful journey where collaboration and strategy came together. TowMotive has taken a significant step forward for its future, and we’re proud to have played a part in this achievement.”