The impact of investors on your business
A smooth business transfer is the exception rather than the rule. Yet engineering firm Wiertsema & Partners in Tolbert shows that it can be done. What is their secret? 'Taking their time and transferring business organically,' says managing director Duco Kriele, who together with Kees-Jan van der Made stepped back years ago and brought in Johan van der Ploeg as their new director.
With NOM on board as a co-shareholder and Johan at the helm as a successor, Wiertsema & Partners - specialist in geotechnical engineering - is quietly heading for the full business transfer in the near future. It is an important step that was initiated four years ago, because Duco and Kees-Jan were ready for a new phase. 'After years of hard work, we wanted to create some more space for ourselves. But how do you organize that without jeopardizing the independence of the company? Selling to a large party was not an option for us. With NOM as a partner, we can take care of the financial matters step by step and we also have a sounding board for further transfer and growth of the company.'
In its current composition - Johan as managing director and Duco and Kees-Jan still in the background as general and technical directors, respectively - the trio is working together to secure the future of Wiertsema & Partners. 'We have found a good balance,' believes Johan, who stepped into his new position as of January 2020. Before that, the Frisian civil engineer worked as a manager at a large infrastructure specialist. He was already on Duco's candidate list when, after a chance meeting, Johan sent an app: if it was true that they were looking for a successor and if that was something for him? After a few appointments, it was a done deal. 'The click was there right away,' the men explain. 'We are different, but are on the same page when it comes to the philosophy behind this company.'
It's all about people
Intuition and trust are the key words in this transition process. 'However important a sound strategy and sensible business steps are, in the end it's all about the people,' Johan emphasizes. 'The employees - one hundred and thirty in total - are our capital. They have the knowledge and skill to take on the projects in our fields. Wiertsema & Partners has the atmosphere of a family business and the great common denominator here is passion for the profession. Our people are down-to-earth and hardworking; they have that typical northern mentality and strength. Yet they are also proud of what they do. That became especially visible at the family day we organized last year. It is that passion and commitment that make the difference, also in the market.'
Duco nods. 'That's why it was not an option to sell this engineering firm - which we took over from Wiertsema himself after the turn of the century - to a large company. The people who work here consciously choose this scale and atmosphere.' That was also true for successor Johan himself. 'At this company we know all our employees personally and they know us. That appealed to me immediately. Moreover, we can switch quickly. If someone comes up with an idea for an innovation or investment, we don't have to go through all sorts of stages to decide first. He finds it valuable that Johan, as foreman, can call on the knowledge and experience of Duco and Kees-Jan. 'Wiertsema works in a niche market that I first had to get to know.'
Explain well
Time is an essential factor for successful succession, according to both men. 'By growing into the new situation organically and step by step, everyone in the company was able to get used to it. Some were initially critical of NOM's participation; we had to explain that well. And quite soon after Johan's arrival, corona brought the necessary unrest, also around our order portfolio. Then it is nice to have a partner like NOM. It's not like a major shareholder breathing down your neck, but gives you confidence and thinks along where necessary. In the end, the pandemic also turned out to have an advantage: Duco worked mainly from home, while Johan was at the office, where most employees worked in shifts. This made it easier for him to become the new point of contact.'
Duco and Kees-Jan have both started working less and each has their own duties. 'Kees-Jan is still a pioneer when it comes to technical developments and innovations, and I am mainly concerned with a sister company in the offshore,' says Duco. 'Other than that, I'm mainly present in the background, as a hair's breadth within the holding company. Giving advice without interference, that's what I strive for. Johan has taken over more and more operational tasks in recent years. His strength is that he immediately gets to the heart of the matter. And with his fresh look, he has further professionalized both the operational management and the external image.' Johan himself adds: 'Organizing and facilitating everything well in order to take advantage of market opportunities together is what gives me energy.
Sounding board and opportunities
From NOM, investment manager Ruud van Dijk also looks with satisfaction at the course of events at Wiertsema & Partners. 'We know from experience how complex transfers are. Things go wrong more often than right, which is why it is great to see how this company is proceeding very deliberately and step by step. As NOM we offer advice and guidance where necessary, although in practice the entrepreneurs have to do it themselves. And these men handle that wisely, with sufficient time and space for the process.' For their part, Johan and Duco are good about NOM as a sounding board. 'Moreover, opportunities also come along via NOM's network,' says Johan. 'From tips on possible additions for our company to involvement in innovative research in the Northern Netherlands. We strengthen each other in this participation and that is also what we strive for within our MT and the holding company.'