Bestronics makes a significant leap towards a promising future by welcoming new investors.
Recently, we have reached an important milestone by attracting new investors. This marks a major step forward in the further growth and development of the company. With this capital injection, Bestronics can further expand its innovative technologies and services, strengthening its market position. The new investors bring not only financial support but also valuable knowledge and experience, which will significantly accelerate Bestronics’ strategic goals. This step marks the beginning of a promising future, in which Bestronics will be even better positioned to provide its customers with high-quality solutions and services.
‘ING and OxGreenfield invest in high-tech company Bestronics from Veldhoven.
ING Corporate Investments, the investment arm of ING, and private equity firm OxGreenfield have acquired a stake in Bestronics from Veldhoven.
Bestronics is a leading producer of high-tech electronics and also operates as a testing and assembly partner for various electronic applications. The majority of Bestronics’ customers are in the consumer electronics and automotive sectors, with strong growth towards medical applications. Bestronics has four locations in the Netherlands and a purchasing office in China.
The company distinguishes itself in the market through its knowledge of sector-specific processes, lean and mean process design, technical expertise, and understanding of the complex supply chain situation. Bestronics has consistently achieved growth in recent years and there are buy-and-build opportunities. The combination of all these factors has led ING and OxGreenfield to invest in this company.
The company is led by the brothers Hans and Anton van Limpt, who will continue to shape its growth in the coming years.
Bestronics is located in Veldhoven, at the heart of the Brabant high-tech region, and is a valued member of Brainport Industries. This gives the company an excellent position for attracting talented staff and further expanding its customer base.
Bestronics’ added value lies in its knowledge of market and sector-specific processes, technology, relieving customers of their worries, and pragmatic approach to customer requests and service needs. This makes the company unique compared to other providers and explains its strong growth. Due to the increasing demand for electrification and the Internet of Things among existing customers, this growth is expected to continue in the coming years. Adding new services and functionalities will contribute to this, as well as growth within an expanding group of OEM customers.
Spinnov
Part of the transaction is the full integration of Spinnov into Bestronics. Spinnov operates as a design and engineering partner for electronic products and is therefore a perfect complement to Bestronics’ activities. Together, the two companies can offer a full-service solution as a one-stop shop in the entire process of product development, production, and assembly.
Attractive position in Buy & Build
Due to good supply chain management and achieving operational excellence in the internal process, Bestronics has already demonstrated its ability to integrate with existing market players. In 2023, Gemini from Beek was fully integrated into Bestronics’ production chain, with central purchasing and production planning.
A key aspect of the current transaction is further developing the Buy & Build strategy, where there are many opportunities to connect existing companies in PCB development, production, and final assembly to the company.
To facilitate this growth and these plans, Hans and Anton van Limpt will remain connected to the company in the coming years. The Van Limpt brothers are confident about the future of Bestronics and Spinnov: “We look forward to working with ING and OxGreenfield on the further growth and development of our wonderful company. We will remain as Bestronics’ management in the coming years, and together with ING and OxGreenfield, we will optimize and grow our organization, so that it can continue to thrive without our direct involvement in the future.”
About ING Corporate Investments
ING Corporate Investments, a 100% subsidiary of ING Bank, offers customized risk-bearing capital solutions that go beyond traditional bank financing, ranging from subordinated loans to investments in common equity. ING CI supports companies in realizing strategic ambitions by providing growth capital and offering access to ING’s global network and local expertise. ING CI has a proven track record and has invested more than €1.5 billion in risk-bearing capital over the past 10 years.
About OxGreenfield
OxGreenfield invests in experience, expertise, and dedication to create room for the growth ambitions of entrepreneurs. With a focus on strengthening management, succession of owner-managers, carve-outs, growth, scale-up, and turnaround, the investor primarily targets industrial companies with a distinctive technical character. The partners of OxGreenfield collectively have an impressive track record. Each with their own expertise, they work together for connection, relationships, and results. The investment in Bestronics is the third investment of the second fund, OxGreenfield Fund II UA.’
