Adeleon Acquires Elektriciteitswerken Gielen NV

Monheim am Rhein, March 27th, 2024

Adeleon Invest is pleased to announce the successful acquisition of Elektriciteitswerken Gielen NV ("Gielen"), a leading electrical works company based in Lommel, Belgium. The transaction will be effective from the 1st January, 2024, and represents a significant milestone in Adeleon’s ongoing expansion within the Belgian market.

Gielen will become a part of the Belcotec Group, furthering it's strategy to develop into a comprehensive multi-technical service provider. Known for its expertise in electrical installations and services, Gielen will continue to operate under its established brand name and will maintain its operations at the Lommel location, strategically positioned near Belcotec.

We are excited to welcome Gielen's dedicated team into the Adeleon family and the Belcotec Group. We are also pleased that Tijl Schroeyers, the current majority owner, will remain in his leadership role within the company. His continued involvement ensures continuity and a smooth integration process, reinforcing our commitment to preserving the company’s values and strengths.

Together with Jan Vangeel, CEO of the Belcotec Group, we are confident that Gielen will thrive within the group, leveraging synergies and shared expertise to drive innovation and growth in the electrical services sector.

"The acquisition of Elektriciteitswerken Gielen NV is a strategic move that enhances our capabilities in the electrical services sector. We are excited to integrate Gielen into the Belcotec Group, where it will continue to thrive and contribute to our vision of becoming a leading multi-technical service provider in Belgium." — Martijn Megens, Managing Director, Adeleon Invest GmbH

About Elektriciteitswerken Gielen NV

Founded in 1985, Elektriciteitswerken Gielen NV has grown from a small, independent venture into a well-established electrical works company with a strong reputation in the industry. Initially started by Mr. Gielen, the company quickly expanded, necessitating a move to a new facility in Schoolstraat, Lommel.

Over the years, Gielen experienced significant growth, evolving from a local business into an internationally recognized name.

They focus on providing high-quality electrical services for government projects and renowned construction firms. This focus on specialization has allowed Gielen to become a reliable and efficient partner for large-scale public sector projects.

About Belcotec Group

Belcotec Group is a Multitechnics company that was founded in 2012 with a clear focus on project business. The Belcotec group took its first steps into the electricity market 2 years ago by founding Belcotec Technics. In the meantime the group has expanded to 160 employees and is developing into a leader in the Belgian construction market as a highly skilled multi-technics provider.

About Adeleon

Adeleon Invest B.V. is a key subsidiary of Adeleon Familienholding GmbH, focused on strategic investments in diverse industries across Europe. Adeleon Invest aims to foster sustainable growth and innovation, ensuring the long-term success of its portfolio companies.