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  GROUPE GORGE company press release from 15/07/2020

  15/07/2020 - 08:00

Groupe Gorgé finalizes the merger of Van Dam with InterDam

Gorgé Group announces today the capital merger of its subsidiary Van Dam with its competitor InterDam.

Based in the Netherlands, Van Dam is a recognized player in the manufacturing, installation and maintenance of fire and explosion proof doors and walls mainly in the field of Oil and Gas. The company generated revenue of €11.3 million in 2019. Groupe Gorgé acquired Van Dam in 2012.

Based in the Netherlands, InterDam is one of Van Dam's main competitors. The company generated revenue of €20.7 million in 2019.

Following the merger, Groupe Gorgé will remain a minority shareholder in the new entity and will hold 15% of the capital. B&F Holding, with its main shareholder, the Amsterdam based, private equity firm Value Enhancement Partners B.V., owner of InterDam, will hold the remaining 85% of the capital.

Shareholders are convinced that this agreement, represents significant long-term value creation for all stakeholders thanks to an enlarged offer and operational and commercial synergies.

Groupe Gorgé may benefit from 15% to 30% of the economic interests of the new group depending on exit conditions. This merger will result in a gain on disposal of around €3 million recognized by Groupe Gorgé in second-half 2020.

The group resulting from this merger will be named InterDam and becomes the world leader in its market of fire and blast resistant walls, doors and windows for people and equipment working in hazardous environments. The integration of both companies will be completed by the end of 2020 under the management of CEO Fraser Weir.

With this transaction, Groupe Gorgé finalizes withdrawing from the Oil & Gas market and continues the refocus on its strategic activities initiated in 2019 with the sale of the Cimlec group and 30% of the capital of the Fire Protection France activity to its management.


About Groupe Gorgé

Founded in 1990, Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector.


Smart Safety Systems:

Developing complete, innovative technological solutions for complex missions in hostile and confined environments.


Protection of High-Risk Installations:

Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.


3D Printing:

Enabling major industry players to find new routes to successful innovation and production processes by providing 3D printers, premium material, software and 3D printed parts.


The Group reported revenue of €274,6 M in 2019. It is backed by close to 1,800 employees and operations in 7 countries.


Groupe Gorgé is listed on Euronext Paris compartment B

ISIN: FR0000062671

Ticker: GOE


More information on



Investor contacts:

Elodie Robbe-Mouillot

Investor/analyst relations

Tel : +33 1 44 77 94 77

E-mail : [email protected]


Anne-Pauline Petureaux

Shareholder relations

Tel: +33 1 53 67 36 72

E-mail: [email protected]



Press contacts:

Manon Clairet

Financial press relations

Tel: +33 1 53 67 36 73

E-mail:[email protected]


 Forward Looking Statement

Groupe Gorgé press releases may contain forward-looking statements regarding Groupe Gorgé's targets. These forward-looking statements reflect Groupe Gorgé's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws, regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; manufacturing and supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.). Some of these risk factors are set forth and detailed in our Universal registration document (including the annual financial report filed with the French Autorité des Marchés Financiers), available on our website This list of risks, uncertainties and other factors is not limitative. Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.


This press release and the information it contains do not constitute an offer to sell or to subscribe, or a solicitation to purchase or subscribe shares or securities in Groupe Gorgé or in its listed subsidiaries in any country whatsoever

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  Original Source: GROUPE GORGE