Supporting management buyouts
A lot has happened since 1993. What began as a pioneering venture from a shed has grown into a specialist company. CORROSION’s environmentally friendly corrosion solutions and antifouling products protect maritime and offshore structures against corrosion and marine fouling. The company is a global leader in the protection of steel offshore wind foundations with locations in the Netherlands, Germany, France, China and Vietnam, complemented by a global network of partners. In 2015, the founder wanted to pass on the business to another party.
Robert Roeleven, COO of CORROSION: ‘We were told by several clients that IRIS CF had given them good support with management buyouts. As the management team, we knew the founder, had been involved in the business for years and wanted everyone’s best interests to be well served. With that mandate, Duncan and his team set to work, and we were impressed with how things went. They guided us all through this process to our great satisfaction.’
Valuable time savings
Bart Wessels, CCO, continues: ‘This is why it made sense for us to go back to IRIS CF when we were looking for someone to help us achieve our growth ambitions. Thinking about growth and securing outside capital is one thing, but finding the right way to achieve it is another. In addition to all the organisational commotion, we had to put together a clear and appealing narrative, get the facts and figures straight, and model and calculate the future potential. We could never have done this ourselves. Neither in terms of expertise nor in terms of time. We saw and learned a lot during this process.’
Knowing how the other party thinks
And that wasn’t always fun,’ Robert adds. ‘We also had to deal with quite a few disappointments because we didn’t always manage to come to an agreement with potential parties. There were forces at play internally with them that affected our process. Fortunately, Duncan was able to show us their side of the story, which created more understanding. IRIS CF knows how the other party thinks and what their arguments and considerations are. Th
CORROSION develops in-house, environmentally friendly solutions for a market that usually uses many environmentally harmful and time-consuming products. The company has a well-equipped laboratory where it experiments and tests new ideas. For example, CORROSION systems can even be read and adjusted remotely, saving clients a lot of time and money. ‘Our products preserve the status of a vessel’s green passport, which is becoming increasingly important in European laws and regulations,’ says Bart. ‘We never sit still either, but are constantly looking for smart combinations. This is how we formed an exclusive partnership with Philips for the development of our UV-C box coolers. Instead of chemicals or hazardous substances, we use a technique developed by Philips. This has led to a breakthrough in the market, which is something we’re obviously very proud of.’
Dingen laten gebeuren
‘CORROSION is a company where we make things happen,’ Robert says. ‘We don’t sit still and are always looking to innovate and solve our customers’ problems. After all, the environmental requirements are going to play an increasingly important role in the coming years, and we’re offering a solution for that.
We like short lines of communication, a creative approach and a down-to-earth and open atmosphere. The latter is also true of IRIS CF, so that makes working together easy, and we can effortlessly shift to a higher gear when necessary.
At a certain point, you put together a team that is committed to producing the best possible result. We also had the freedom to make our own decisions and to cancel a deal if it did not feel right to us. We appreciate that enormously.’