Andra Tech Group: investing, growing and retaining its entrepreneurial spirit

Andra Tech Group has become a leading manufacturer of high-precision mechanical components and modules. Its clients range from high-tech chip machine manufacturers to producers of food processing equipment. The group often supplies critical components that can require advanced technology and craftsmanship. “We work in a high-mix, low-volume environment,” explains Urff. “That means we produce a wide variety of products in relatively low quantities. Quality requirements are high, and our clients expect us to grow with them. If they grow twenty or thirty per cent a year, we need to be able to do the same.”

Ambitions like that bring challenges. A group of eleven individual companies needs structure – not in the sense of uniformity, Urff stresses, but scalability. “We want to retain our entrepreneurial spirit. Each of our companies has its own DNA, often rooted in the family business from which it originated. But as you grow together, you reach a point at which you need to organise processes, insights and systems to match the expanding scale.”

The acquisition of Andra Tech Group by German investor Castik Capital in 2024 was a natural moment for reflection, recalls Urff: “A transaction like that gives you a photo, a snapshot that shows you clearly where you stand. Meanwhile, of course, we had been working for years on something more like a video: the ongoing development of our group, with clear ambition and continuous improvement.”

The 2024 snapshot showed Urff how much Andra Tech had already built. It also highlighted points for improvement – for example, in reporting, working capital management and data-driven decision-making. PwC advised Castik on its acquisition of the Group, and conducted the financial and tax due diligence. The result was a clear picture of Andra Tech Group’s position and scope for value creation. PwC Partner Gijs van Leeuwen, who was involved in the financial due diligence, recalls: “What struck me most was how Andra Tech Group was already organised around the concept of entrepreneurship. It was a growing group of companies with a clear vision. At the same time, you could see that that not all of its members had developed the finance function at the same pace. That is not unusual for businesses that are growing quickly through acquisitions. It created opportunities to add structure and take the next step.”

As an investor, Castik has a keen eye for detail as a means of ensuring grounded decision-making. Against that background, a 100-day plan was drawn up for Andra Tech Group, with PwC playing a major role in the financial plan. This was not a one-off project, but a starting point and accelerator for further professionalisation. “We created a calendar with concrete actions in the financial, operational and HR fields,” says Urff. “The aim is to do something every day that matters for today, and some things that matter for the next three days, the next three months, and the next three years.” He describes this as organising ahead of the curve. “If you know growth and complexity are coming, you need to invest in time. Otherwise, you will be constantly trying to catch up, as a board, you will eventually slow the whole company down.”

Danny Siemes, senior director at PwC, helped implement the financial actions laid out in the 100-day plan through the Finance Excellence programme. Urff wanted a collaboration with a practical focus. “We deliberately chose to form an integrated team of people who not only bring knowledge and skills, but also fit the culture of our companies.”

Siemes remembers this clearly. “Eric wanted to speak personally with the people who would be working with him. He interviewed them. And to be honest, some were not selected.” Urff: “I didn’t want a random group of advisers walking in here without us knowing who they were. For me, it is important that there is a click. We wanted people who enjoy talking to our finance managers and directors as well as with employees on the work floor. Who can easily switch between strategy and practice. Without those qualities, the whole effort soon becomes a paper exercise.”

The result was a collaboration in which PwC and Andra Tech Group moved forward together side by side. “We had PwC people on site,” says Urff. “We worked hard and laughed a lot, too. That’s important. You want a relationship in which you can say everything to each other.”

A key advantage was the expertise and capacity PwC could provide. “It meant we could make progress faster,” Urff explains. “And gain structure. That’s essential when you are running several projects at the same time.”

The Finance Excellence programme consists of ten projects, some of which have been completed, while others are ongoing. PwC supported the project by leveraging experience with industry best practices and deploying data visualisation and artificial intelligence tools. This enabled the rapid development of a new management reporting framework. By using AI, routine tasks such as data cleansing and code generation were automated, allowing faster delivery of in-depth trend, causality, and predictive analyses. As a result, Andra Tech Group gained deeper insight into its financial and operational performance. A controls framework was also established to help manage risks associated with growth and international expansion. 

Another key focus area was working capital management. ‘Our customers place orders based on forecasts,’ Urff explains. ‘This means we build up inventory, which requires close monitoring of work in progress, receivables, and payables.’

In addition to restructuring its financial processes, Andra Tech Group launched an ambitious data initiative. Urff: “We have hundreds of advanced machines in our factories. They generate huge amounts of information. We’ve built a centralised storage facility that brings together operational and financial data. With Power BI and AI, we’ll be able to unlock the data intelligently.”

PwC acted as knowledge partner and supplied the reporting platform. Siemes: “We applied our knowledge and our experience with our own Power BI environment. The great thing is that together with Eric and his team we looked at what the business needs, what stakeholders such as Castik want to see, and how to bring that together in one integrated platform.”

After an intensive period of collaboration, the foundations are now in place. That does not mean the collaboration is over. Urff expects Andra Tech Group to continue growing in the coming years, both organically and through acquisitions. “Our ambition is to add more great companies to the group. And we know where to find PwC.”

For Urff, the relationship that developed with PwC is not to be taken for granted; it is the result of deliberate, mutual trust. “We’ve worked together for a long time now,” says Urff. “When things go well, we say so. When something isn’t right, we say that too. I believe that is the essence of good collaboration.”