A.Hak

Cadenive acted as exclusive M&A advisor to A.Hak and its shareholders in the intended sale of 100% of the shares to Royal BAM Group (BAM) at an Enterprise Value of €504m.

With this acquisition, BAM significantly increases its exposure to the fast-growing Dutch market for energy and, water infrastructure. A.Hak has a complementary customer portfolio, expertise and capabilities. A.Hak’s strong position in transmission pipelines for energy and water and trenchless techniques will complement BAM’s existing energy distribution activities.

A.Hak is a leading Dutch company in underground infrastructure founded in 1963. The company mainly serves utility companies and transport and distribution network operators. A.Hak generates approximately 85% of its revenue in the Netherlands and also operates in the United Kingdom, Germany and Belgium.

Royal BAM Group is a leading construction and property development company listed on Euronext Amsterdam with over 150 years of experience in delivering sustainable buildings, homes and infrastructure for public and private sector clients. With approximately 13,500 employees, BAM realised a revenue of €7.0 billion in 2025.

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