TVH
TVH is a leading global independent distributor of aftermarket parts for material handling, construction, agricultural and industrial equipment. This customer-centric organisation has continuously expanded its global footprint to improve its responsiveness and customer servicing capacity from a single Belgian location in 1969 to over 90 branches in 27 countries today. Thanks to its customer loyalty and global scale, TVH now offers over 1 million stock items and 55 million known references to over 90k customers throughout 170 countries across the world and has achieved outstanding service quality levels with 94% of same-day shipments.
Investment case – our journey with TVH
On 1 October 2021, D’Ieteren Group acquired a 40% stake in TVH from one of the founding families, the Vanhalst family, thereby creating a long-term partnership with the Thermote family, which is keeping a 60% stake in the company.
Since the acquisition, D'Ieteren Group and its co-shareholders have supported TVH's management team in pursuing profitable growth by reinforcing TVH's leadership in its existing markets and developing its offering in other markets such as small earth moving. Several initiatives have been implemented to accelerate growth and resilience:
- Deep focus on service excellence, achieving high customer satisfaction with Net Promoter Score consistently above 60;
- Significant investments in digital platforms, and network footprint, enhancing convenience, loyalty and customer proximity;
- Expansion of product range and technical expertise, ensuring availability of over 1 million stock items and rapid delivery worldwide;
- Strategic acquisitions and partnerships to broaden capabilities and regional presence;
- Operational transformation programs to improve efficiency and scalability of this data driven organisation.
Over this period, TVH has consolidated its position as a global leader in industrial and off-road parts distribution. Despite short-term headwinds with a cyber attack in 2023, TVH continues to deliver robust margins and strong cash generation, while investing in technology, sustainability, and customer experience.
The path ahead: “Continued profitable growth in its core and new markets”
D’Ieteren Group intends to continue to work closely with TVH ’ management team and support the company namely through the following actions:
- Reinforce TVH's leadership position in its core end-markets and regions
- Support bold growth ambitions, be it through new regions or new markets, organically or through acquisitions
- Accompany TVH in its ongoing ESG journey
- Help drive the company’s continuous reinvention and optimisation.
