Group Coek

Gradually handing over to my successor

Coek is a Belgian company with a strong global presence. “We weren’t looking for a private equity investor who would just pressure us to sell up for a quick profit. Legia Capital focuses on continuity and has made the whole process of gradually handing over to my successor easier.”

Global niche player

Coek makes large-scale reactors and other processing equipment for the chemical and mining industries. Under the driving force of Marcel and Francine Vanlommel-Renders and later their daughter Ilse Vanlommel and her husband Koen Van Looke, Coek is becoming a global niche player, mainly in China and Europe: “Large new-build projects using exotic materials and involving a high degree of technical difficulty are typical of the kind of jobs we take on,” explains Koen. “After we took over from my parents in 2007, I was the sole shareholder,” adds Ilse.

Focus on continuity

But since neither of their two sons was interested in coming into the business, the couple started asking themselves what sort of future they wanted. “We immediately felt a personal rapport with Legia Capital,” recalls Koen. “Unlike other private equity investors, Legia Capital doesn’t put pressure on you to sell up for a quick profit. The deal focused on continuity: a successor would soon be found and we would remain in place full-time until the end of 2025.”

Successor? Check.

“As a partner, Legia proved to be a facilitator who boosts management confidence. We’re still in charge of things on a day-to-day basis, but we can always rely on them to be a great sparring partner. Legia also made sure we were actively involved in finding a suitable successor at every stage of the process, from helping to screen CVs through to interviews and final selection. For us, it’s good that we can continue to be in the driving seat as we near the end of our time at Coek, and gradually let go of the reins with complete confidence.”

As a partner, Legia Capital is a facilitator who boosts management confidence

Koen Van Looke, CEO Group Coek

Activity:

Production of large-scale reactors and other processing equipment for the chemical (processing of PTA, polypropylene, acetic acid) and mining industries. Main markets are Asia (primarily China) and Europe.
www.coek.be

Type:
Succession

Investment date:
December 2020