From Kolham, Newthex supplies custom work to the global yacht and shipbuilding industry. With support from the Groninger Growth Fund and the NOM, the Groningen manufacturing company is now heading emphatically for market leadership.
Newthex, a Groningen-based manufacturer of high-quality doors, hatches, and elevators for the superyacht and defense markets, ships its products worldwide from Kolham. In 2006, Newthex began producing these custom-made marine components. Martin Luth, CEO since 2023: “Every day, we work here with a dedicated team of 21 employees on special projects: from design to production, through to delivery, installation, and on-site after-sales service at the customer’s location.” Clients from all over the world know where to find Kolham. Martin: “From doors for the Dutch Navy to special helicopter lift platforms for superyachts: we’re down-to-earth people from Groningen, but that makes us very proud.”
Customization with growth ambition
Newthex's impressive portfolio appeals to the imagination, Martin says: "For example, we recently designed a special hatch for a superyacht, which can accommodate a smaller boat. We quickly think that's normal here, but when you look at it from a distance, that's a bold project.' Martin continues: 'Recently we were invited to the christening of one of the ships we were asked to supply. Then you see the parts that have been worked on for weeks or months come into their own on the shop floor.'
Martin, who originally trained as a mechanical engineer, looks back on his career at Newthex: “We regularly have interns here, and I always tell them: you can really grow here. I’m a good example of that myself. I started in 2009 as a mechanical engineer, then moved on to Head of Engineering and Head of Production, before becoming Technical Director, and now I’m the Managing Director.” Martin’s long-standing career isn’t unique at Newthex: “We have a very stable team—flat, no-nonsense, truly Groningen-style, and people-oriented. We’re continuing to grow significantly, so we’re always looking for new people.”
"We are actively working on acquisition and on our strategy for the coming years. As down-to-earth, technically driven Groningers, we have traditionally been primarily concerned with making. Now we notice: if we want to grow, we must do so with a strategic plan. More trade show visits, visiting customers more often and getting closer to the end customer. That means, among other things, that we are going to use marketing more consciously."
In his current role, funding and healthy business growth also fall under his responsibility. Martin: "Fortunately, I am supported in this by very skilled colleagues and a committed shareholder." If further growth in 2025 requires additional funding in the form of a piece of working capital, the connection to the Groninger Growth Fund is quickly made.
Groninger Growth Fund invests together with NOM
The initial contact with the Groninger Groeifonds was made in the summer of 2025 through Newthex’s financial manager. Martijn Hubers, investment manager at the Groninger Groeifonds, explains: “Newthex is a wonderful, innovative company based in Groningen. Given the jobs they create—not only internally but throughout the entire supply chain—it is also a valuable organization. As the Groninger Groeifonds, we’re happy to invest in it. As a fund, we always act as a co-financier, so we’re also partnering with Newthex—in this case, with the NOM. For the NOM, the maritime industry is a key pillar, so as co-financiers, we quickly found common ground in that area.”
Martin looks back on the funding process with satisfaction: "In our industry, we often have to finance ourselves at the front end. So the moment the orders come in, we are very happy, but there has to be sufficient working capital to cope. With the funding from NOM and the Groninger Growth Fund, we could now focus on quick turnaround times while maintaining operational performance such as planning, execution and quality. That leads to satisfied customers, who also come back. That's more than worth the funding."
Innovative shipbuilding in the Netherlands
Newthex sees, together with partners from the network, that there is a lot of knowledge in the Netherlands in the field of shipbuilding. As Martin explains, "In the yacht building segment, 50% of 60- to 80-meter yachts and 40% of 80+meter yachts have been built in the Netherlands in recent years. Not only do we have a long history in this field, but there is also a lot of knowledge and expertise here. As an industry we want to protect that and let it live on in the Netherlands." Martijn of the Groninger Groeifonds supports that ambition: "We as Groninger Groeifonds like to see a thriving manufacturing industry in our beautiful province. To stay ahead, we must therefore support innovative players like Newthex in the broadest sense. Funding is important for this, but also by saying: what you do with the organization matters. For the maritime sector and for Groningen."
Martin further explains, "Our strength lies in the knowledge we have in-house: engineering, project management, extensive documentation and service. This allows us to master the core ourselves and, for larger projects, to scale up quickly with permanent, local partners. There is a huge amount of specialized knowledge in the North - from shipbuilding to metalwork and from electrical engineering to hydraulics - and that plug-and-play cooperation means we can handle peaks without losing our quality."
Local impetus for global ambition
The funding gave Newthex a boost at the right time. Martin: "We have the ambition to become the indispensable, leading premium partner worldwide for high-quality doors, hatches and elevators in the superyacht and defense markets. The funding allowed us to score important orders and brought us another step closer to that ambition."
Martijn emphasizes the uniqueness of the organization: "How wonderful that from Kolham you serve the whole world with special, high-quality custom-made products. As Groninger Growth Fund, we are happy to bear the risk for the additional funding of such a venture." The Groninger Growth Fund sees an important economic role for the manufacturing industry, says Martijn: "This is a very nice example case for us and an invitation to other entrepreneurs in the manufacturing industry. We are happy to play a supporting, risk-bearing role in the success of these companies in Groningen.
The collaboration with the Groninger Growth Fund felt familiar to Martin: "We like to work with local parties. We do that with our products, but thus also in the area of funding. The Groninger Growth Fund knows what is going on in the region and fits in very well. The lines are short, the contact is personal and the cooperation is smooth. Clear business: that's what we like at Newthex."
Source photo: Mascha Elzinga