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news — Skilpod lands capital increase of 11 million euros

It's time for a new chapter in the Skilpod story. We are strengthening our growth ambitions with a substantial capital increase of 11 million euros. The current shareholders consisting of founders Filip Timmermans and Jan Vrijs, Group Van Roey and U2P Group welcome the Welvaartsfonds as a new investor. This transaction is an important signal in the housing market where industrialized building is accelerating its transition from niche to mainstream.

10Y Skilpod

Founded 10 years ago by Filip Timmermans (engineer) and Jan Vrijs (lawyer), Skilpod is recognized at home and abroad as one of the leading pioneers in the development and production of modular homes. Our homes are fully assembled and finished in a controlled factory environment and then transported and installed on-site with minimum inconvenience to the surrounding area.

The capital round crowns a year of highlights for Skilpod in which founder Jan Vrijs was elected Builder of the Year and founder Filip Timmermans received a prestigious university medal of honor from KU Leuven. Rector Sels referred, among other things, to the fact that in its 10-year existence Skilpod has succeeded in literally and figuratively turning the construction world upside down and becoming the market leader in modular, flexible and ecological housing construction. That in the process it demonstrates a visionary view of housing that anticipates demographic evolution and uses innovative production methods with a business model based on sustainable choice of materials and renewable energy use.

"Beautiful words," Timmermans said. "Skilpod is much more of an engineering company than a classic construction company. We have invested particularly heavily in research and development in recent years. This allows us to bring engineering, manufacturing and design together seamlessly and cost-effectively. Our recent development in modular apartment construction includes more than four years of thorough engineering. It seems simple but under the hood we have a tremendous amount of knowledge and expertise."

Jan Vrijs joins his co-founder: "with modular apartment building, our engineers have filled a vital part of our product range. Our Skilpod single-family homes from 80 to 165 m² will be joined by Skilpod apartments from studios to 5-bedroom apartments. An apartment complex, freely combining all types of units, up to 5 stories high in timber frame construction. Another important step in the pioneering role that Skilpod continues to play." 

international scale-up

The challenges in the housing market are enormous, especially in the segment of quality affordable construction. The funds raised will therefore be used for the sensitive expansion of production capacity (from 10,000 m²/year to 50,000 m²) through the construction of a new assembly plant and the further scaling up of the Skilpod product range, both single-family and apartment construction, in Belgium and neighboring countries.

Prosperity Fund

After deliberate market research, Skilpod found the ideal investment partner for its intended growth phase in the Welvaartsfonds. Roald Borré, portfolio manager of the Welvaartsfonds: "Investing in Flemish companies making the transition to a sustainable economy is our core. The Flemish traditional construction sector is under great pressure but innovative companies like Skilpod show that Flanders does have all the knowledge and potential to offer sustainable solutions. With relatively limited resources, Skilpod has achieved an impressive track record and pioneered the market for industrial construction. With our capital contribution of 8 mio eur in the first phase, 3 mio eur comes from the current shareholders, we are convinced that the enormous growth potential will be captured."

Published: 7 November 2023

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