2007 Marks DYNACO's 20 Year Anniversary, and There is Plenty to Celebrate! |
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
DYNACO USA, Inc.
935 Campus Dr.
Mundelein, IL, 60060
USA
Press release date: October 24, 2007
Over the last 20 years, DYNACO has experienced a fantastic history of innovation and growth. From its infancy, new products, coupled with the expansion of both Belgian and nearby markets, the development of sales and marketing in Europe, USA and Japan, and a continuous focus on new innovative products and concepts it became and established company in the High Performance Door market. In the last few years, DYNACO entered a consolidation phase with the objective of improving the organization, its processes and profitability, along with increasing investments in product improvement and development.
DYNACO is now ready for the next step!
Fuelled by the growing concern over rising energy costs and new regulations, the market for High Performance Doors is very promising, and DYNACO has decided to move to the next level and strengthen its position in this market. The objective is to obtain 20% of the market share as DYNACO currently sells over 10,000 High Performance Doors each year, worldwide.
For these reasons, Benoit Coenraets, founder and owner of DYNACO, has decided to join forces with new shareholders who bring the skills, ambitions and financial resources to help current management accelerate this growth.
Therefore, we are pleased to announce that KBC Private Equity has become a majority Shareholder of DYNACO.
KBC Private Equity, the private investments arm of KBC Bank, is a top professional investor with a proven, long term commitment to support the strong ambitions of its partners, and most specifically, DYNACO. It has many long term equity positions in the fifty million dollars range, and has the full support of KBC Bank.
The Management of DYNACO believes the unique and innovative DYNACO product lines, efficient production facilities, and a solid business model based on a network of independent, experienced and motivated distributors, are a great foundation for future growth that will be focused primarily on:
o The introduction of new products in the USA, Japan and in Europe; o The continuous search for increased production efficiencies; o The expansion of the dealer network and geographical coverage, including remote countries; and o The consideration of ad hoc opportunities for external growth
The choice of KBC Private Equity is the result of multiple discussions held with a number of different parties. KBC was chosen as the best candidate to support the management in their plans to develop DYNACO over the long term.
Benoit Coenraets will remain a shareholder of DYNACO, Olivier Coune will retain his Group CEO responsibilities and Dirk Wouters will continue to lead the US Operations.
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