Crane giant Sarens is again fully owned by the family of the same name. Begoos, the personal investment company of Luc Tack, has reached an agreement with the Sarens family to sell its stake in the capital of Sarens Group.
The Flemish-Brabant-based crane company Sarens was wholly owned by the Sarens family until 2011. Then, the investment group Waterland pumped 100 million euros into the company to support international growth, in exchange for a minority stake of 22%.
West Flanders entrepreneur Luc Tack bought over Waterland’s package of shares for an undisclosed amount in 2021 through the vehicle Begoos. It is not known for how much the 22% stake will now go back to the Sarens family.
Armed
Luc Tack was named Manager of the Year in 2014. He is CEO of textile machinery manufacturer Picanol in Ypres and chemical company Tessenderlo Group in Tessenderlo. “We are pleased that we were able to help the Sarens family regain full control of their business over the past two years,” Tack said.
“We would like to thank the Tack family for their cooperation and added value over the past two years. With all shares owned by the family, we are now armed to further raise our profile in the future as the global reference in crane rental, heavy lifting and technical transport,” said Wim Sarens, CEO of Sarens.
With the transaction, Begoos also relinquishes his mandate on Sarens’ board of directors.
Worldwide
Sarens, founded in 1920 and based in Wolvertem, employs over five thousand people worldwide. In 2021, the company posted a turnover of 579.7 million euros.
