Movares joins forces with Innovus Smart Engineering

Movares joins forces with Innovus Smart Engineering

Together, the firms aspire to scale its operations and deliver the most innovative and sustainable engineering services with a societal impact. Axeco Corporate Finance is proud to have advised the management team of Movares in the transaction with Innovus Smart Engineering and Convent Capital.

Movares joins forces with Innovus Smart Engineering

With the envisioned transaction, Movares and Innovus Smart Engineering will unite their operations under the banner of ‘Movares Group’, whilst the individual agencies continue to operate in the market under their own label. The new combination, active in the software-driven engineering services industry, is driven by a shared vision to deliver the most innovative and sustainable engineering solutions for rail, mobility, and energy challenges. Their collective ambition is to set the industry standard from initial planning through execution to ongoing management, establishing themselves as frontrunners in the field.

The group’s combined expertise focuses on addressing complex societal challenges. The synergy of resources provides substantial avenue for growth and scaling opportunities. In collaboration with the other entities within Movares Group, these firms will be better equipped to cope with the shortage on the labour market, make larger investments in digitalisation, and further strengthen their commercial skills.

Joining forces enables them to make even greater contributions to major upcoming projects, aiming to make the Netherlands more liveable, accessible, and sustainable.

The transaction, announced on 24 October 2023, consists of the sale of 100% of the outstanding shares of Movares Group to Innovus Smart Engineering. The acquisition is subject to the approval of the Dutch competition authorities. The transaction is expected to be completed in November 2023.

“The merger with Innovus Smart Engineering is the next step in the development of Movares. The knowledge and competencies within the group are highly complementary, which will enable us to address major societal challenges in sustainability, liveability, and accessibility from A to Z even more effectively. We are an excellent fit, and I am convinced that this offers great opportunities for our professionals to enhance our culture.”
Robert Claasen, CEO Movares Group

”The formation of Innovus Smart Engineering was driven by the ambition to do things differently than the market and to become a leader in size and societal relevance as ‘the leading digital engineers.’ By now joining forces with Movares, Innovus Smart Engineering instantly achieves that size and relevance. We are incredibly impressed by the specialised knowledge of Movares and the excellent projects they are involved in, and we look forward to continuing together.”
Harm Hoorn, CEO van Innovus Smart Engineering

“By becoming part of a larger group, the various parties can better address the labor market shortage, invest more in digitalization, and further strengthen their commercial capabilities. Together, we have the scale and competencies to play a distinctive role in the Dutch engineering market.”
Erik van Schie, CFO Movares Group

About Movares
Movares has its roots in the esteemed tradition of Dutch railway designers who have been responsible for iconic designs since 1839. In 1995, Movares, previously known as Holland Railconsult, became an independent entity, evolving into a consultancy engineering firm with a broad international scope. In 2020, BRO joined Movares, further strengthening the firm’s position in the early planning phase of projects.

About Innovus Smart Engineering
Innovus Smart Engineering is a group of established names with a proven track record in the field of engineering services and civil engineering. The group was formed in 2022 as a platform company within the portfolio of the Amsterdam-based investment firm Convent Capital Management. Innovus Smart Engineering was created through the merger of leading parties such as Zonneveld Engineers, Ulehake Engineering Bureau, MUG, Royal Sjouke Dijkstra, and software developer Future Insight.

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