ANNUAL REPORT 2007 | 2008 - Gimv

Gimv majority shareholder in TerStal
FASHION CHAIN TERSTAL WRITES STRATEGIC SUCCESS STORY
With targeted acquisitions and a successful strategy change, fashion chain TerStal has considerably extended its store network in
the Netherlands over the past ten years. Management of the fashion house, which now has just over 170 outlets, wants to extend
the group further to between 250 and 300 stores.
In the 70s and 80s the company operated a low price strategy. In the mid-90s the company made a strategic sea-change. The
stores were made more attractive and inviting, with a profi le that set TerStal clearly apart from the discount chains. Along with this
TerStal introduced its own design department. Production of its own designs in Asia is actively controlled by the fashion house.
TerStal directs its collections at the entire family, responding to consumers’ need to dress distinctively and attractively at reasonable
prices. The range offered in the shop is wide, but not deep. For each clothing item just a few garments in each size are hung
out, and the main items are changed every four weeks. TerStal’s own collections are supplemented by offerings from high quality
importers.
INVESTMENTS
Numac Groep
www.numac.nl
Dutch technical services group Numac’s main activities are
machinery maintenance, process optimization, industrial automation
and trading in technical equipment. The Numac Group
consists of three complementary companies. As well as the
original Numac company, the group has included since 2007
both Van de Meerakker and Planatec.
The Numac Group is playing to the current trend to outsource
industrial maintenance. As well as pure mechanical maintenance,
Numac provides also electronics and IT know-how.
Numac specialists’ professional knowledge and solutions are
helping companies confi rm and where possible improve the
returns on their installations, machinery and product lines. In
2007 a workforce of nearly a thousand employees realized sales
of over EUR 70 million. Gimv took a 60 percent shareholding.
TerStal
www.terstal.nl
Dutch fashion chain TerStal offers fashionable and affordable
private label clothing for the whole family. TerStal designs a large
part of its collection itself and then outsources production to
manufacturers in the Far East. With 170 outlets, TerStal is one
of the larger fashion chains in the Netherlands. The company,
present mainly in the central, eastern ad northern regions of
the Netherlands, is planning to further extend its store network
in the Netherlands. In December 2007 Gimv took a majority
shareholding in the group. Following Gimv’s entry, the company
purchased Philipoom Mode, a Dutch chain of 21 fashion stores
in and around Utrecht. In all the company has 525 employees,
who together realized sales of over EUR 50 million in 2007.
FOLLOW-ON INVESTMENTS
ANP
www.anp.nl
The Algemeen Nederlands Persbureau (ANP) was set up
in 1934 by the Dutch daily press in order to deliver objective
news to the Dutch newspapers. ANP has since grown
in the Netherlands’ leading and most complete multimedia
information nexus. ANP journalists, photographers and correspondents
deliver news reports, photos and videos round
the clock to the domestic and foreign press and to non-media
companies. Every year ANP produces over 160 000 news
reports and 58 000 photos. In 2007, ANP’s 215 employees
produced sales of EUR 34 million. Gimv entered in 2004, and
subsequently increased its interest from 15 to 44 percent. The
remaining shares are held by NPM Capital (44 percent) and
management.
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