The Belgian Competition Authority (BCA) has given the green light to Standard Investment's acquisition of Tank Newco, a financial holding company within the Verwater Group. Standard Investment is part of Standard Investment Fund, focusing on investments in medium-sized enterprises in the Benelux and Northern Europe.

Tank Newco, a financial holding company, is part of the Verwater Group, which operates as a contractor for (petro)chemical installations, specializing in tank maintenance and construction. The Verwater Group is also involved in civil works, piping, Engineering & Automation, Electrical & Instrumentation, and other services.

Standard Investment's decision to acquire Tank Newco was driven by Verwater's technical expertise, experience, and reputation, coupled with the sustained market demand for (petro)chemical tank maintenance in the Amsterdam-Rotterdam-Antwerp region.

The BCA, in its decision, found that the conditions for the simplified procedure were met and that the acquisition did not raise any objections, leading to the approval of the transaction.