Groveko

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Groveko - overview

Established

1964

Location

Zwolle, ede, Netherlands

Primary Industry

Logistics & Distribution

About

Groveko specializes in the wholesale distribution of cleaning products and solutions, serving various sectors such as healthcare, retail, education, and hospitality with innovative and eco-friendly cleaning solutions. Founded in 1964 and headquartered in Zwolle, Netherlands, Groveko is a wholesale distributor of cleaning products. The company was acquired by MKB Fonds, who took a majority stake in the firm in April 2015 for an undisclosed amount. The current CEO is Romke Romkes.


Groveko specializes in the wholesale distribution of a wide array of cleaning products and solutions tailored to meet the needs of various sectors, including healthcare, retail, education, and hospitality. Their portfolio features professional cleaning machines such as vacuum cleaners, scrubbers, and sweepers, along with cleaning agents tailored for interior, sanitary, and kitchen use. They also offer customized solutions, including HACCP plans and training programs designed for specific industry requirements, serving a diverse client base across the Netherlands, Belgium, and Germany. In 2022, Groveko reported an EBITDA of EUR 3,731,349.


10, driven by a B2B model that facilitates partnerships with cleaning companies, industrial clients, and retailers. The company generates revenue from the sale of individual products, subscription services for ongoing supplies, and specialized training services, ensuring comprehensive market coverage. Groveko aims to expand its product offerings with upcoming innovations in eco-friendly cleaning technologies, with specific new products expected to launch by mid-2024. The company is also targeting growth in new geographic markets, notably in France and the United Kingdom, by the end of 2025.


The recent acquisition by MKB Fonds is expected to support these initiatives, focusing on enhancing product development and market penetration.


Current Investors

Primary Industry

Logistics & Distribution

Sub Industries

Consumer Products, Warehouses, Industrial Wholesalers

Website

https://www.groveko.nl/

Company Stage

Mature - Buyout

Total Amount Raised

Subscriber access only

Groveko - financials

Fiscal Year EndedDec 31, 2016Dec 31, 2017Dec 31, 2018Dec 31, 2019Dec 31, 2020Dec 31, 2021Dec 31, 2022
Revenue (USD)-------
% Revenue Growth (YoY)-------
EBITDA (USD)1,163,2081,724,2101,711,0631,204,537---
Operating Income (USD)472,309801,319852,602337,265---
Operating Margin-------
% EBITDA Margin-------
NET Income (USD)30,327345,548430,10270,769---
% Net Margin-------

Groveko - deals

Deals TypeDeal StatusTarget (s)Deal DateInvestor(s)Seller(s)Deal size (Mn)Enterprise value (Mn)Post-money valuation (Mn)EBITDA multiple (x)Revenue multiple (x)Lead partner (s)
Add-onCompletedFrag Hygiene-
Add-onCompletedEwepo-
BuyoutCompletedGroveko-

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