NEWS: Management buyout at Move Intermodal

Move Intermodal, specialist in intermodal transport, realizes a management buyout. CEO Luc Driessen, who has long been on board with the Genk-headquartered company, is buying back the shares from Down 2 Earth Capital. The Limburg investment company LRM facilitates this buyout and takes a minority stake of 15%. Luc Driessen is the majority shareholder, the rest is spread among Move Intermodal’s executive team and some private investors. An important milestone that also marks the start of further ambitious European growth plans.

The name Move Intermodal immediately spells out what it stands for: the mature company headquartered in Genk specializes in the long-distance transportation of goods (bulk and packed) by train and boat along the major corridors in Europe. Only the first and last kilometers are done by truck. Currently Move Intermodal counts 3,000 containers, has a fleet of 220 own trucks and employs 350 FTEs, spread over 8 countries.

Pioneering role since 1986

Luc Driessen, Joris Brouwers, Johan Ghijselinck, Dominique Roux and Tom VanhamThe story of Move Intermodal, which started as part of Ewals Cargo Care, reads like a train. The company has been pioneering intermodal transport since 1986. Initially, it did so from the Dutch industrial area of Hazeldonk. In 1991, Luc Driessen, Move Intermodal’s current CEO, opened an office in Genk, which further developed the intermodal concepts the company offers to this day. For example, Move Intermodal was the first Belgian transport company with its own rail shuttle from Genk to Novara, Italy. There were also many logistics supply chain innovations, such as the introduction of the bag-in-box bulk container, advanced storage facilities and the first swap body with a recess in the floor for steel coils. In turn, the increasing demand for transport across Europe led to the introduction of new rail corridors between Antwerp, Duisburg and Northern Italy.

Exit Down 2 Earth Capital; welcome LRM and private investors

In 2011, Luc Driessen initiated a management buyout of the former Intermodal business unit of Ewals Cargo Care. Since 2014, Move Intermodal has been known by its current name. In 2018, Down 2 Earth Capital came on board as an external investor. Today, the company reaches a new milestone in its history of existence: flanked by the Limburg investment company LRM and Move Intermodal’s executive team, CEO Luc Driessen realizes a management buyout. Down 2 Earth Capital is thus completely replaced by LRM as financial shareholder and strategic sounding board.

CEO Luc Driessen looks to the future with great ambition. “Intermodal transport will gain even more importance in the coming years, among other things due to the increasing pressure to reduce CO2 emissions and the growing shortage of truck drivers. Moreover, measures will follow at a European level to stimulate intermodal transport, such as regulatory alignment and infrastructure renewal.” The choice for LRM characterizes Driessen as a Limburg entrepreneur: “We are enormously proud of our strong local roots in Limburg. The fact that LRM, as a leading investment company in our region, has chosen to invest in Move Intermodal is of great importance to us. LRM specifically chose us because of our local sustainable character, which fits perfectly with the logistics hotspot that Limburg represents. This investment underlines not only LRM’s confidence in our company, but also recognizes our commitment to sustainability and local involvement.”

Tom Vanham, general manager of LRM: “Move Intermodal is a Limburg gem that plays at the European level. The company is optimally committed to service and efficiency through a smart combination of different forms of transport and a sophisticated plan for in- and outbound shipments. Its European growth plans are ambitious but well-founded. LRM invests in the company with confidence. Moreover, sustainability is an important pillar for Move Intermodal and intermodal transport is a spearhead within the Green Deal of the European Union and in line with the policy of the Flemish government, which for us as an investment company is also a crucial element in our investment decisions.

Dominique Roux, head of LRM Private: “As LRM we facilitated this management buyout. We strongly believe in the European story that is presented here and have great confidence in the team. With his entrepreneurial skills, CEO Luc Driessen has built Move Intermodal to where it is today. The other members of the executive team have – each in their domain – many years of experience in intermodal transport. They are ambitious yet realistic. In short: it is a sustainable story of a mature company to which we as an investment company are happy to contribute.”

Ivo Marechal, founding partner Down 2 Earth Capital: “We are proud of the development the company has experienced during our holding period, both in terms of professionalization, growth and market positioning. We believe LRM is the perfect partner for Move Intermodal to support its further development. We are very grateful to the management and all employees with whom we have worked successfully since May 2018 and wish them all the best in their new environment.”

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