SHV has decided to explore a potential divestment of ERIKS and Mammoet. This is the result of the regular strategy update process where SHV, amongst others, reviews the composition of SHV overall, and had to come to the conclusion that supporting all eight Groups simultaneously in realising their full potential and ambitions is not the best way forward.
We believe that both ERIKS and Mammoet under a new owner will have this opportunity.
ERIKS has successfully concluded the first phase of its Fuel for Growth programme and its sales and profits are steadily improving while there is still a lot of potential for additional growth. With a new owner, ERIKS may not only focus on growing the existing business but also on acquisitions.
For Mammoet, the leading positions in Europe, the Americas and global projects, as well as the successful winding down some of the local activities in APAC and MEA and the formation of the international projects organisation based in Dubai provide a lot of potential for future growth. With a new owner, Mammoet can explore all opportunities for further expansion.
Jeroen Drost, CEO of SHV: “It has become clear that offering support in the best possible way to eight Groups cannot be done in the way we would like to. That does not mean the decision to potentially divest ERIKS and Mammoet has been taken lightly. Both have been valued members of the SHV Family for many years and it is with regret that we have to let them go. What is now most important for SHV is to make sure we find new owners that are committed in supporting ERIKS and Mammoet and our colleagues in this next step. We all strongly feel this obligation and will be part of every decision in the process.”