Changing the business of traffic and energy infrastructure

The Company

The Dynniq group specializes in the design, manufacturing, installation and maintenance of electronic systems for traffic and energy infrastructure. Examples of products include traffic management installations, high-voltage energy conversion stations, and off-street parking installations.

How it started

We acquired the Traffic & Infra division out of Royal Imtech’s bankruptcy, forming the Dynniq group in 2015. Given the ongoing bankruptcy procedure and the company’s cash requirements, timelines were relatively short. Egeria was able to act fast and with a limited due diligence period. An important component of the investment at entry was securing sufficient liquidity to fund ongoing operations.

What did we like about Dynniq

In spite of the financial difficulties of Royal Imtech, we viewed Dynniq as an attractive investment opportunity and believed in its potential:

• We considered the end markets of traffic and energy infrastructure appealing, given their sustainable, stable, and non-cyclical nature and longer-term governmental contracts.
• We saw opportunities for growth, driven by the trend towards smart-mobility and investments in energy networks to accommodate the energy transition.
• We were convinced of Dynniq’s strong positioning, because of its proprietary technology and broad installed base, generating recurring revenues.
• We believed the company would benefit from a standalone ownership situation with focused management, to realize improvement potential.
• Dynniq had a cash generative track record, historically supporting the Imtech group.

Realizing operational and commercial potential

Our initial priority was to bring in new management and stabilize the company. To realize the envisioned potential of the Dynniq group, we put in place an organizational structure that promoted local ownership and entrepreneurship. This resulted in improved operational performance and commercial success. An overview of key initiatives:

• Several activities were considered non-core and divested early in the holding period, enabling focus towards the core activities.
• The group was split into three standalone companies with their own focus: Dynniq Mobility (traffic-related technical installations), Dynniq Energy (energy infrastructure installations), and Dynniq Parking / WPS (off-street parking installations). The standalone companies operated under independent management teams reporting directly to Egeria, resulting in increased ownership and entrepreneurship throughout the organization.
• Together with the new management teams, we employed various initiatives increasing operational efficiency, including: promoting more decision-making in lower levels of the organization, increasing employee satisfaction and productivity, improving project control, and investing in technology and software.

The Dynniq group was divested in parts: Dynniq Mobility was sold to Swarco in 2021, Dynniq Energy was sold to Heijmans in 2022, the EU/North America Parking activities were sold to Certina in 2023, and lastly the Brazil Parking activities (WPS Brazil) were sold to Perto in 2024.