LRM and TelelinQ invest 2.125.000 euro in Soulco

Soulco, 100% export

Soulco is distributor and integrator of ICT products with a focus on growth markets like the Middle East and Africa. The company is specialized in the integration of different technologies and products in the domain of telephony, data, security, conferencing solutions, access control, VSAT, microwave and fiber optic communication systems. Soulco was founded in 2008 by Tony Verbeke, former CEO of Siemens-Atea Herentals. The markets in which Soulco is active are typically dominated by companies which are based in low-wage countries. Tony Verbeke has however chosen firmly to base Soulco in the Flanders, taking the availability of very competent and experienced resources like project managers and solution architects into account. This also allowed and ensured the professional cooperation with export-supporting and stimulating organizations like Delcredere / ONDD and Finexpo .

In 2009 Nico Cras, former CEO of Siemens Enterprise Communications for Middle East and Africa, joined Soulco as shareholder . He brought along his extensive experience and know-how of the corporate sector in the Middle East.

The partnership between Tony Verbeke and Nico Cras turned out to be a success. De consolidated sales increased over the last year with 50% to exceed the cape of 10 million euro. More than 50 persons are actually working for Soulco.

Solution-oriented and integrated

The growth of Soulco is based on the increased demand of ICT infrastructure in the Middle East and Africa.

Tony Verbele, chairman of the Board, explains : “ Soulco is already active in many countries like Kenya, Ghana, Algeria and Tanzania. Large companies in the Middle East and Africa are continuously looking for reliable and experienced system integrators. Soulco offers these companies a solution-oriented approach, where integration of several technologies, products ,suppliers and competences becomes feasible.”

Focus on growth

LRM and TelelinQ invest 2.125.000 euro in Soulco Holding NV. LRM participates 1.417.00, TelelinQ invests 708.000 euro. This investment will be used to realize the ambitious growth plans.

Within distribution the efficiency of the logistic process will be improved. The number of countries and distributors wil be increased. Also the product portfolio will be expanded, with the support of the expertise of TelelinQ.

Also the project activities will be expanded. Their focus is on large ICT infrastructure projects for government institutions and large private companies, and this in a growing number of countries .

This growth however can only be realized with the presence and the support of Soulco’s local service hubs. Soulco has already local companies in Algeria and Kenya . A branch in Morocco is being set up. The foundation of local companies in the Emirates and in South Africa is under investigation.

“By the fast technological evolution there is not only a need to focus but also to have local specialized competences. This can be achieved by having good competent people in our service hubs and by providing training programs to our partners and customers” says Tony Verbeke.

About LRM

LRM is a profit-driven investor and provides entrepreneurs a unique combination of risk capital and property. Oxigen for growth ! LRM is a generalist, but has built up specific competences in ICT & Media, Life Sciences, Cleantech & Energy. The activities of LRM contribute to the economical development and overall employment in the province of Limburg. LRM focuses on all sectors and enterprises, from small over medium to large. www.lrm.be

About TelelinQ

TelelinQ is an independent Belgian group of 5 technology companies : Nextel NV, Nextel BV, Newtel and SIECOM are active in data and telecom, Securipoint is active in the domain of electronic security. Each company provides high quality total solutions to the government, municipalities, communities, healthcare and small, medium and large enterprises in the Benelux. At TelelinQ almost 400 employees take care of 14.000 customers. The expected sales for 2010 is more than 70 million euro. The average annual growth is 25%. www.telelinq.com

More information

SOULCO

Tony Verbeke

Chairman of the Board

M +32 475 25 55 61

E tony.verbeke@soulco.net

TELELINQ NV

Peter Roelens

CEO

T +32 3 609 66 06

M +32 477 46 96 93

E peter.roelens@telelinq.com