“Arpentus serving as ‘flight control’ in the sale of a tool and die shop.”
Door
Jan van Frankenhuyzen
Datum
4 July, 2023
In het kort
For Jan van Frankenhuyzen, we managed the sale of Frankenhuyzen Industrial Cutting Tools to Meyco Holding AG.
Entrepreneurship is like flying. “Taking off is the easiest part. By far the most challenging aspect is the landing.” Assures entrepreneur Jan van Frankenhuyzen, speaking from experience. “Arpentus was my air traffic control. Together, we executed a fantastic landing. But “he emphasizes, “don’t get too euphoric. Selling your company is an extremely sensitive and emotionally taxing process.”
Van Frankenhuyzen’s analogy captures the essence of the creative entrepreneur. He recently sold Van Frankenhuyzen Industrial Cutting Tools, a metalworking company that manufactures cutting tools, primarily for the industrial sector, especially those made from ultra-hard materials.
The common thread
The passionate entrepreneur directed his company for over thirty years with a focus on ‘light, air, and space, in both a literal and metaphorical sense,’ he emphasizes. And as he shares his story, the common thread suddenly becomes evident. Jan, himself, was a mischievous student but evolved through ‘learning by doing’ into a successful entrepreneur, toolmaker, hobby blacksmith, semi-professional photographer, banjo and violin-playing amateur musician, and a community member with a heart for the village’s children. It is he who has an entrepreneurial vision that places the flourishing of his employees at the center. Moreover, it is he, together with his wife Karla and two others, who established a foundation aimed at introducing children to crafts, fostering curiosity, and, most importantly, instilling a sense of self-worth.
An entrepreneur with avocations
The most illuminating introduction to Van Frankenhuyzen may well be a tour behind the unassuming facade of his authentic village residence. A nineteenth-century townhouse he has called home for thirty years and professes never to leave. While in the process of selling his business, he slept outdoors due to a thorough sustainability renovation of the dwelling. The living room was transformed into a kitchen, complete with a few chairs for “living,” and the kitchen became a butchery. This is because, among other pursuits, catering for village residents, slaughtering ducks, and crafting sausages are among his many hobbies.
Beyond this home butchery lies a deep backyard, adorned with structures designed in a historical style, where old crafts are practiced. There’s the authentic blacksmith’s forge, where Van Frankenhuyzen regularly ignites the high flames. The woodworking shop, where children from the village occasionally make magnifying glasses. The bread bakery where, as per plan, bread is baked weekly. The darkroom, where the photographer can unleash their creativity. Not to mention the parsonage garden, accessible from the rear, where “Kitchen Garden Teacher Karla” lets the village school children uncover the secrets of nature – sowing, harvesting, and indulging.
“One is exceptional with numbers, another is sharp on the human aspect, and a third is super-accurate in support.”
‘Abdication’
All those hobbies seamlessly fit into the entrepreneur’s schedule. By now, the “landing” has taken place. When a client expressed interest in the company for the second time, the process gained momentum. “It was time to abdicate the throne and provide ‘the guys’ (the nine employees, in this case) with a fresh perspective. I no longer saw reinventing and renewing the company as my responsibility. That’s why I, in collaboration with Arpentus, began exploring potential buyers.”
No revenue chasers
From the outset, Van Frankenhuyzen made one thing clear: any potential buyer who immediately started talking about revenue growth was not a suitable fit. What he sought in a buyer was a passion for the trade, not a hunt for revenue. Based on this criterion, ten out of the fourteen names on the longlist were eliminated. Eventually, negotiations were initiated with the aforementioned client: Meyco Holding AG, a Swiss parent company with a Dutch subsidiary.
Top-notch flight control
“It was challenging!” nods Van Frankenhuyzen when asked about how the sales process unfolded. “It’s an incredibly sensitive and emotionally taxing process. A fragile process, especially concerning your employees, your family, the buyer, and the lawyers. To coordinate the entire landing operation, you need various people.”
He found these individuals at Arpentus, referring to them as his “flight control.” He is almost lyrical about the complementary qualities of the team. One is “exceptional with numbers,” another is sharp on the human aspect, and a third is super-accurate in support. “I have no prior experience in selling a company, but I believe I managed to secure the very best flight control,” summarizes Van Frankenhuyzen his experiences.
Cautiously relieved
The brief period during which he had to keep the sale plans hidden from his employees was dreadful for him. The endless questions that arose during due diligence were exhausting. The legal nitpicking surprised him, and the fact that his brother passed away while the sale was in full swing was a heavy blow. But the signatures have been put down. Now that Van Frankenhuyzen feels the transition is progressing well, he is cautiously relieved. Strumming his banjo, he can contemplate the future.
Contemplation of the future
Isn’t it ideal that he has sold his company and is gradually gaining more time for all his hobbies? “I have to reinvent myself,” he admits. “Because hobbies are only fun when you don’t have time for them. For the first two years, I’ll still be at the office a few days a week to assist with the transition and integration with Meyco (the company that bought the business). In the meantime, I’m considering what I’m going to do. Something social, for sure…!”
