The Eindhoven family business Hurks Groep is being acquired by Ballast Nedam. The two companies have reached an agreement, which still requires approval from the Netherlands Authority for Consumers & Markets.
For Geert Hurks, owner and general manager of Hurks Groep, the continuity of the more than century old company was an important motivation for the takeover. “The fact that both my sons have indicated that they do not want to continue the company, has made me take this decision.”
“By joining Ballast Nedam, I am convinced that Hurks’ identity will be preserved and that we can achieve great goals together,” says Hurks.
Strengthen position
With the acquisition, Ballast Nedam wants to strengthen its position in construction and project development in the region. “Hurks fits perfectly with our strategic ambition,” says Kemal Sağlam, CEO of Ballast Nedam. They also points out the important role of family businesses in the expansion of the organisation.
According to Ballast Nedam, the acquisition means a strengthening of the residential construction activities in the Brainport region. “It increases our connection with customers and suppliers in a rapidly growing region,” says Niels Doodeman, member of the Board of Directors at Ballast Nedam.
Fourth generation
Eindhoven’s Hurks Group was founded in Eindhoven in 1916. The fourth and apparently last generation of Hurks is currently at the helm. The company has approximately 160 employees.
Ballast Nedam is a Dutch construction and development company. The company was founded in 1877 and since 2015 has been part of Rönesans Holding, one of the largest construction companies in Europe.
Hurks Groep will continue to operate under its own name after the takeover.
Source: www.studio040.nl
Translated by Yawar Abbas
