Square Group has entered into a preliminary agreement with Herman Michiels for the acquisition of Michiels H. Aannemingsbedrijf nv. The acquisition will become effective from March 1, 2020.
Operating from its headquarters in Heist-op-den-Berg, Michiels specializes in earthworks, demolition, and roadworks, and also houses a recycling center for demolition waste and a concrete plant.
Herman Michiels founded the company as a one-man business 41 years ago, which has since grown to a company with 70 employees and an annual turnover of 16 million EUR.
For Square Group, this acquisition marks a significant strategic decision. With its headquarters in Wondelgem (Gent) and a recently established site in Flémalle (Liège), the newly acquired location in Heist-op-den-Berg will allow Square Group to provide full coverage across Belgian territory.
For its contracting activities, Michiels H. Aannemingsbedrijf will continue to operate autonomously under the umbrella of Square Group, alongside Aclagro. The Heist-op-den-Berg location will enable more efficient service to the regions of Kempen, Limburg, Flemish Brabant, and the northern part of Antwerp. The concrete plant and the demolition waste recycling center will be integrated into AC Materials, the recycling unit of Square Group. With this addition, AC Materials will have a presence in 6 locations across Flanders, from Bruges and Gent (2), to Vlierzele, Puurs, and now Heist-op-den-Berg.
The objective is to further expand activities in earthworks, demolition, and roadworks within the region. Collaboration with the various entities of Square Group will facilitate synergies and enable the execution of complex projects, including asbestos removal, dismantling, demolition, and soil remediation.
With this acquisition, Square Group will surpass a workforce of 500 employees. All Michiels employees will remain part of the team. New vacancies have already been announced to support the projected growth in the region.
