First Investment of Dutch Security TechFund in Maritime and Port Security
The Dutch Security TechFund, started by TIIN Capital in december 2018, is an investment fund with a focus on Cybersecurity and IoT secured solutions. It has made a first investment in the Dutch technology company CERTUS Port Automation B.V., a company that offers innovative solutions in the field of, among others, port and terminal security and automation.
Via a Management Buy-Out, the current management of CERTUS has bought the shares of the company. The Management Buy-Out has made been possible by the Dutch SecurityTechfund and a group of private co-investors who are connected to TIIN Capital. The shares are for 50% in the hands of the management and for 50% in the hands of the Dutch Security TechFund and the co-investors.
Around 50 employees work at CERTUS, of who 13 in Israel. Furthermore, there is activity in the U.S., China and South-America. The company is active on a global level in 50 terminals, 30 ports and 20 countries. Clients of the company include APM Terminals, ECT, DP World, Maher Terminals and the Port of Rotterdam. The management consists of CEO Leander de Noojer, who started the company in 2005, CFO Bas van der Pol and Pieter Christiaan van Oranje, whose focus lies with innovation and business development. With their new equity partner Dutch Security TechFund, CERTUS expect to grow independently by escalating more rapidly with their 'Port Automation and Security Solution' in new markets, but also through adding IT security solutions and data driven business models to the provided services.
Leander de Nooijer, CEO of CERTUS: "the recent period we were introduced to TIIN Capital as a determined and creative investor, who knows how to bring processes to a good conclusion with an experienced hand and is able to see and determine the unutilised potential of our company. We are looking forward to the cooperation in the coming years". Maarten Derks, partner at TIIN Capital adds: "It is of great interest that we cooperate with management who are able to take the lead. With the current management there is a true drive present to scale-up, to innovate and achieve succes. We are very satisfied with a first investment of the fund in a scaling company with a track record and innovation on the agenda. A great start for the fund".
Dutch Security TechFund
Dutch Security TechFund was started in December 2018 with the goal to invest in start-ups and businesses with the potential for growth whose focus lies on Cybersecurity and IoT secured solutions. The fund is managed by TIIN Capital, who collaborates with The Hague Security Delta, InnovationQuarter and businesspartner KPN Ventures. The goal to create and complete an eco-system in Cybersecurity is coming ever closer.
Michael Lucassen, partner at TIIN Capital: "recent Cyberattacks that were perpetrated with ransomware have included hits on port businesses and terminals. This has caused large-scale damage and leads to risks for the continuity and security in, for example, the port of Rotterdam. To be active in the maritime and/or port security was therefore on our wishlist. We are expected to, after this investment in a scale-up, make one or more investments in startups in the coming months".
If you want to read the article (in Dutch), you can go the Financieel Dagblad or read the official press release (in Dutch) by TIIN Capital.