IJssel Technology and PMG

Through the acquisition of PMG (Preventive Maintenance Group), IJssel Technology aims to strengthen its market position in Southwest Netherlands and Flanders. Through this acquisition IJssel Technology crosses the border and can continue to build on its services from this first position via acquisitions from a strong network of Argos Wityu in Belgium.

This first international acquisition, completed on December 29, 2023, is an important follow-up link in the series to provide full-service and technical expertise internationally to the customers of the growing group. PMG's services fit seamlessly into the already existing activities from IJssel Technology in the field of lubrication maintenance, inspections and consultancy. Through the long-term customer relationships of PMG, IJssel Technology can relieve these clients even better as the one-stop-shop for industrial maintenance.

The digital and preventive monitoring of maintenance and lubrication needs that PMG offers fits well with IJssel's innovative nature of "connected maintenance services. Thus, IJssel Technology expects to integrate PMG's remote/online monitoring services into its UpTimeWorks offering.

About PMG

PMG is a company founded in 2010 specializing in innovative 1st line preventive lubrication maintenance, inspections and consulting. Through deep sector expertise in recycling, materials and (petro)chemicals, among others, PMG takes care of its customers' needs. Through its specialism, PMG contributes to customer success and continuity. They operate from on-site customer presence with 16 specialists who act as an extension of the customer.

André Munniksma, selling owner PMG, says: "By bringing the PMG organization under the IJssel Technology group, we are creating an even more complete service package, making it possible to further expand our vision in 1st-line preventive lubrication maintenance and further develop our services. These include on-line monitoring of oil baths, specific oil sampling, Ultrasonic lubrication, filtration and cleaning as well as piping and steam trap checks. Central to this is the advice for recording maintenance history in the various maintenance management systems and thereby helping to realize maintenance-related savings. The cooperation with IJssel Technology Group strengthens the long-term relationships with our clients and reinforces the continuity, growth and development of our existing services."

Bas Ambachtsheer, CEO at IJssel Technology Group, said, "PMG not only complements our core activities in preventive lubrication technical maintenance, but also opens the door in the south of the Netherlands and Belgium for IJssel Technology Services."

About IJssel Technology

IJssel Technology is a leading Dutch provider of (predictive) maintenance, and engineering, installation, and (production) optimization services for industrial clients and is involved in a large part of the industrial value chain. Through more than 450 employees, it offers its services through 7 locations in the Netherlands, both as a professional service provider and through an external technical service.

Richard Reis, Partner at Argos Wityu, said, "Strengthening IJssel Technology's presence in the Southwest of the Netherlands, and the first step into Belgium is a leap forward for the group. The acquisition of an innovative preventive maintenance company such as Preventive Maintenance Group, as the second acquisition in year 1 of our participation is an excellent result for us and the team."

About Argos Wityu

Argos Wityu, the major shareholder of IJssel Technology since 2022, is an independent European private equity group that supports the growth of medium-sized companies and assists their management teams in this endeavor. Argos Wityu operates from 7 offices in Europe, including, since last year, Amsterdam. The group invests in majority stakes with capital ranging from €10m to €100m per stake.