Euresys, a provider of video acquisition and image processing components for machine vision, has announced that Marc Damhaut (Chief Executive Officer) and three other executives, Claude Latin (Chief Operation Officer), Jean-Michel Wintgens (Vice President Engineering) and Jean-Bernard De Bal (Vice President Business Development), have led a management buy-out of the business.
The acquisition had been finalised at the end of July with Euresys acquired by a new holding company controlled by the existing management team. The acquisition includes the company’s headquarters in Liège (Belgium) as well as the offices in Singapore and San Juan Capistrano (CA, USA).
The business has enjoyed a period of growth since 2012 and the arrival of Marc Damhaut as Chief Executive Officer. This transaction has provided the company with an appropriate funding structure to facilitate the change of ownership and will help to support the management team’s future growth strategy.
“We have some ambitious growth plans in place and we expect to continue with our current business strategy, with further organic growth anticipated. The business plan that has been created for the MBO has identified a number of potential opportunities to explore in the near future.” says Marc Damhaut, CEO. He continues: “We are delighted to have reached an agreement with the previous shareholders and the founders of Euresys. We would also like to take this opportunity to thank our employees, clients, distributors, partners, subcontractors and suppliers for their loyalty over the past 25 years.”
Pictured from left to right: Jean-Michel Wintgens, Marc Damhaut, Claude Latin, Jean-Bernard De Bal