His course demonstrates entrepreneurial spirit, guts and the ability to do things differently. Since last summer, after NOM sold its equity interest, Arnold Bakker has again been 100% DGA of Kampen Industrial Care. "I just wanted to get on with it.
The desire was growing. Rather today than tomorrow, Arnold Bakker wanted to take full control of the company again. Pure sentiment," confesses the inspired entrepreneur. Last spring, the time had come. After Arnold approached NOM for a share transfer, NOM also saw it as a logical moment. After all, Kampen Industrial Care had been firmly on course for some time. And so NOM decided to make an exit and Arnold became 100% DGA. Just like more than ten years before.
'When we were in a difficult phase in 2012, NOM gave Kampen Industrial Care a lifeline,' Arnold says. 'They stepped into the company and became a co-shareholder. Although it was quite a risk at the time, NOM dared to do it. You can safely say that it has produced the desired result for all parties. The company is just as healthy as before, perhaps even healthier, and NOM has achieved an excellent return.
Naughty shoes
Kampen Industrial Care is a mechanical engineering service provider that specializes particularly in maintenance of existing installations and work in and around piping systems. 'Basically, we make sure that industry in the Northern Netherlands keeps running,' Arnold smiles. 'What makes us particularly special is that we can supply and install piping systems in both steel and plastic. Indeed, in my opinion this makes us virtually unique.'
Arnold has been with the Groningen-based company since 2001. The first years as right hand of the then director. Until the director rather suddenly decided to quit in 2005. 'I immediately put on my bold shoes and approached owner Arend Kampen and told him: There is no longer a director now, but don't be afraid. Kampen's new director is here.' Not much later, he was at the helm of the family business that once began in 1948 as a blacksmith shop in Thesinge.
Odor of cutting oil
Arnold's love of technology was instilled at an early age. In his younger years he regularly tinkered with his moped, which of course had to be the fastest in the village and its surroundings. Later motorcycles and cars followed. Currently, after obtaining his racing license, he even drives a specially prepared BMW E90 330i in a real competition. Nevertheless, after high school, at the insistence of his parents, Arnold chose to study finance. But, as is often the case, blood runs where it cannot go. Engineering continued to draw undiminished interest.
'When I came for a job interview at Kampen, which at the time was located in Hoogezand, I literally smelled technology,' Arnold recalls. 'The smell of cutting oil, the chips that had just been burned and the welding smoke. I loved it and felt right at home. That feeling has never gone away.'
Handbrake
That financial baggage, combined with an entrepreneurial nature, came in handy after Arnold was appointed managing director. He immediately tried to change a number of things in the company. Especially because he noticed that the handbrake was somewhat on employees. 'For a long period, Kampen was very dependent on NAM as a client,' he clarifies. 'If at any point NAM decides to go out to tender and award all the work to one contractor and you happen not to be that contractor, yes, you have a problem. Then you get scratches on your soul as a company and sometimes you start acting just a little too cautiously.'
The first period Arnold was mainly concerned with the company's image and commercial activities. He felt that Kampen needed to go out into the countryside and show its true identity. "We are much better than we delude ourselves, I told the employees. So step out of the shadows and stand on your own shoulders. At the same time, I put more focus on the market segment we want to serve. More precisely: tell what you do and don't do things that someone else can do much better. Try to make connections throughout the chain and enter into partnerships with other parties.'
National player
The new course turned out to be a hit. In fact, it went so well that after a while Arnold received a call from a large listed company indicating that they would like to buy Kampen. Ai, Arnold thought, suppose it really does happen, how am I going to proceed? 'It had become a bit of my business after all,' says Arnold. "Then I also made an offer to Arend Kampen that was accepted after a short negotiation phase. As of January 1, 2009, I was suddenly DGA of Kampen. Coincidentally, I obtained my MBA during that same period. Purely because I needed more theoretical baggage. I had the ambition to make Kampen Industrial Care a national player.
Two years later it acquired a company with branches in IJmuiden and Hoogvliet that dealt in plastics engineering. Almost simultaneously, Kampen won a multi-million dollar project in the construction of a power plant in Eemshaven. However, it was in the midst of the credit crisis. After a brief upturn, the economy plunged back into recession in the second half of 2011. 'With all the trouble that entails,' Arnold stresses. 'But even more annoying for us: this project for our client Veolia Water Solutions went far from smoothly. Originally, we are a very service-oriented company. We do everything for the customer. But if you join the big boys, different rules often apply. Then the skin is sometimes pulled over the ears. We weren't used to that at all. People walk all over you. To put it mildly, it got us into quite a bit of trouble.
Pretty spicy
Of course, it gave him quite a few sleepless nights. But he never lost hope for better times. Arnold successfully approached NOM, which stepped in at the end of 2012 and became a co-shareholder. I was very happy with that,' says Arnold. Moreover, I remained the majority shareholder. You do enter a phase in which some things start to run slightly differently. A Supervisory Board comes in and professionalization has to take place. In the beginning that is quite tough, but in the end it brought us a lot. The choice in 2014 to divest the company in IJmuiden and Hoogvliet, which had been acquired shortly before, was a hard but wise decision.'
In 2018, the decision was made to focus on industry in the Northern Netherlands. 'I lived on autopilot for a very long time,' Arnold explains. 'By now I have become calmer and feel less need to pursue that very big thing. Having fun in your work is much more important, I now know. But we still want to be the best. I have noticed that if you enjoy your work, it only benefits the output. It reflects on your customers and your suppliers.'
Track record
Indeed, the renewed focus has worked out well. Over the years, for example, the company has built a fine track record. Not for nothing did Kampen move from Hoogezand in 2020 to more representative and more efficient premises on the Narvikweg in Groningen. Cherry on the cake, of course, is the recent share buyback.
'I just wanted to get on with it,' Arnold says. 'NOM knew that too. That's why I worked with an organization that supervises mergers and acquisitions to produce a well-substantiated offer letter. In the end I agreed with NOM on a price that was good for both parties. Even without the NOM, Kampen remains committed to the strategy of serving industry in the Northern Netherlands. There is every reason to do so. The market is along and the workforce is increasing. Now that I am DGA again, it is up to me to keep the energy and dynamism in the organization.'
We are pleased that we were able to make a good deal with the DGA Arnold Bakker on the sale of our share package to him. For him a wish to become a 100% shareholder came true, for us it was a natural moment to sell. A fine example of an exit with a win-win situation.
Allard van der Horst, Investment Manager NOM
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