PAT-Krüger
PAT-Krüger is a leading international system integrator with 4 branches: the Netherlands, Germany, England and Dubai. If system integrators we focus on innovative solutions in the field of safety and control systems for heavy lifting equipment. We are leading with our crane nuisance protection, ATEX camera systems, weighing systems and custom-made sensors. Our service teams work worldwide.
PAT-Krüger
PAT-Krüger is a leading international system integrator with 4 branches: the Netherlands, Germany, England and Dubai. If system integrators we focus on innovative solutions in the field of safety and control systems for heavy lifting equipment. We are leading with our crane nuisance protection, ATEX camera systems, weighing systems and custom-made sensors. Our service teams work worldwide.
Corporate film – customer journey
The film shows our customer journey and was made at our head office in 's-Hertogenbosch. The customer journey in our foreign branches in England, Germany and Dubai is the same. The film shows how the process goes from the first customer contact to the successful delivery to the customer. It provides a good overview of our engineering, the software and hardware solutions that PAT-Krüger develops for customers, up to and including successful delivery and acceptance by the customer. The customer can start and complete his critical project safely and on time!
More images and information can be found on our social media channels:
About PAT-Krüger
The predecessors of PAT-Krüger Group BV were founded in Germany in 1968. The PAT company focused on manufacturing crane safety systems and the Krüger company made similar crane safety systems on the market. These companies merged and were ultimately sold in their entirety in 2004 to the German company Hirschmann.
Hirschmann then decides to split the manufacturing and installation companies. The service companies in the Netherlands, Germany, United Kingdom and the Middle East were sold to the previous owners of our company in 2006. In 2016, our current owner, Mr CJ Kleijwegt, purchased the company partly with the help of a Vendor Loan from the previous owners (see chapter 7.8.3 of the prospectus for explanation). The company will then continue under the name PAT-Krüger and position itself as an independent installation and service company. First as a dealer and later as a system integrator with a large product portfolio all related to safety surrounding mobile “heavy duty” onshore and offshore installations.
Today, PAT-Krüger is known worldwide as a leading international system integrator with 4 branches: the Netherlands, Germany, England and Dubai. If system integrators we focus on innovative solutions in the field of safety and control systems for heavy lifting equipment. In particular, our crane overload protections, both for the maximum load and the load moment (to prevent cranes from falling over as a result of the load at a certain angle), are used worldwide. Over the years, our product portfolio has continued to grow to make not only the crane itself but also the working environment around it increasingly safer.
Our main product groups are:
- Crane safety and control systems
- Custom-made measuring shafts and measuring cells
- Force measurements in structures and wires
- Industrial weighing systems
- Wind speed measuring solutions
- Data loggers with the option to access the data remotely
- Industrial ATEX certified surveillance camera solutions
- Worldwide installation and maintenance
Recent milestones
Turnover and profit and forecast
Below is the turnover and profit for the period 2019 to 2021, the budget for 2022 and the prospects for the coming years. 2019 was an exceptionally good year due to the large order of ATEX CCTV systems. In 2020 and especially in early 2021, the strict travel restrictions in Dubai led to a loss of turnover. Since the end of 2021, turnover has returned to the level of the budget for 2022.
Below you will find an overview of a possible scenario for the coming financial years 2021 to 2025. The forecast figures for the years 2022 to 2025 included below are those of the forecast with the takeover of the sensor manufacturer as included in chapter 10.4.2 of It prospectus.
NB! We don't know how the next few years will go. We have also made assumptions, but they may be wrong. It is therefore very uncertain whether these forecasts will come true. You cannot derive any rights from this.
You should therefore not make your decision to invest in the bonds based on this forecast.
See chapter 10.4 of the prospectus for the assumptions we have made in this forecast.
| Turnover and result before taxes (EUR x1000) |
2019 Current | 2020 Current | 2021 Draft | 2022 Budgets | 2023 Forecast | 2024 Forecast | 2025 Forecast |
|---|---|---|---|---|---|---|---|
| Turnover | 7.266 | 5.470 | 5.037 | 7.558 | 7.793 | 8.029 | 8.190 |
| Result for tax | 609 | 156 | -186 | 292 | 289 | 332 | 369 |
The turnover and result as mentioned above are shown graphically below.
What does the market look like?
We operate in a niche market with only a few suppliers. Even though we operate globally, we focus on the EMEA and Asian markets. In the future, we want to set up a permanent branch with a workshop in India and Singapore in order to expand further in these major geographic markets. Below is an overview of our own offices, resellers and technical partners. The technical partners have been trained by us and carry out service activities locally.
Partners and customers
Our customer base is large. Over the years we have completed, repaired and retrofitted many installations where necessary or desired. A number of important customers are listed below. We have also built up a large circle of regular suppliers on the supplier side over the years. This allows us to quickly and effectively obtain the desired parts if they are not in stock. A number of suppliers have been mentioned as partners from whom some specific parts are purchased.
Group management and organization
The PAT-Krüger Group has 4 branches and is managed from our head office in 's-Hertogenbosch. The Governance and Finance functions are only present in 's-Hertogenbosch. On December 31, 2021, we employed 34 employees (32,3 FTE).
The branches in the other countries are our operating companies that focus on the three services we offer:
- Systems – sales, hardware assembly and software writing
- Parts – sale of individual parts
- Service – installation and maintenance
The associated administration regarding project information, purchasing, work orders, invoicing and accounts receivable management is carried out by each branch itself.
Business development is placed on a project basis at the suitable location, mainly the Den Bosch and Dubai locations.
The management of PAT-Krüger Group is in the hands of Coert Kleijwegt and Koen Slobbe. The wish is to set up an advisory board with two people in 2022. The idea is that Koen will take a seat there together with a person with a more financial background.
Legal structure of the company
Target emission
We want to borrow € 1.400.000 from investors. We want to finance our growth with this money. We will explain below what exactly we want to do with the money from the bonds.
| If we raise €1.000.000, we want to spend it as follows: | If we have €1.400.000 collect, we would like to spend it as follows: | |
|---|---|---|
| Repay Vendor Loan | € 500.000 | € 500.000 |
| Acquisition of sensor manufacturer | € 400.000 | € 600.000 |
| Working capital | € 100.000 | € 300.000 |
| Total | € 1.000.000 | € 1.400.000 |
Further detailed information can be found in the prospectus chapter 8.
Risks and certainties
Investing always involves risks. The main risk you run is that PAT-Krüger will not have the money to repay you or pay the interest. This could happen, among other things, if our director disappears or if we suffer a loss of turnover because a major customer disappears. Then you may not receive any repayment of the loan and you will not receive any interest.
No further guarantees are provided. For the complete risk analysis, please refer to the prospectus and the information document.
Rates
The rates charged by NPEX are shown below.
| NPEX account | free |
|---|---|
| Deposit money | free |
| Registration fee for issue | 1% one-off |
| Service fee | 0,05% per month* |
*To be calculated based on the nominal value of the bonds in the portfolio on the coupon payment date and to be offset against the (monthly) interest payment.
