BODE and Ventura to form a European group for public transport door systems – partnership supported by Waterland and reinvesting Ventura founders

Bolsward / Kassel, 03 June 2026 – BODE and Ventura, two specialists in door systems for public transport, are joining forces to form a European group with global reach. The transaction is initiated and supported by Waterland Private Equity. As part of the transaction, Waterland now also takes a majority share in Ventura. Earlier in May, Waterland acquired a majority share in BODE from Schaltbau Group and is now combining the two companies in order to boost growth and create an even stronger global group. Both Ventura’s founders and management as well as BODE‘s management team reinvest in the combined company.  

The two companies will operate under a shared structure, combining their respective strengths. The existing headquarters, management teams, organizational structures and brands of both companies will remain unchanged.
The parties have agreed not to disclose financial details of the transaction. Closing is subject to customary regulatory approvals and conditions.

A combination with clear industrial logic
The combined group will pursue a growth strategy, with the ambition to build on its strong European base and develop into a leading global partner for train and bus manufacturers (OEMs) and public transport operators (PTOs). The focus will be on expanding the product and service offering, strengthening innovation capabilities and further improving speed and quality of customer service.
Headquartered in Kassel, Germany, BODE generates revenues of more than EUR 250 million and employs over 1,400 people worldwide. Ventura Systems, based in Bolsward, the Netherlands, employs more than 300 people and generates revenues of more than EUR 100 million. Both companies are well-positioned in their respective segments, serve the leading global train and bus OEMs, and are deeply integrated with their OE customers in product development and delivery, and with their PTO customers through after-sales service and maintenance.
Together, BODE and Ventura form a group with compatible technologies, engineering capabilities and geographic reach. At the same time, their geographic footprints and customer bases complement each other, particularly in Europe, North America, and Asia, enhancing customer proximity across the globe. For clients, the combined engineering and innovation capabilities will also support faster development and delivery of products and services.

Stronger positioning for customers in a structurally growing market
Public transport is a long-term growth market, supported by urbanization, sustainability targets, and continued investment in infrastructure globally. Across both segments, OEMs increasingly require high-specification, durable solutions – reinforcing the importance of trusted, technically capable suppliers with high-quality after-sales service capabilities. Implementing complex projects with multi-year time horizons, OEMs have a natural preference for partners with significant size and strong balance sheets, as delivered by the new European group formed by the combination of BODE and Ventura.

Focus is on growth and innovation
The transaction rationale is entirely centered around capability-building and faster innovation to support the customers in responding to evolving customer needs. Investment will focus on innovation, international expansion, and talent. This includes further investment in the quality and speed of after-sales service, ensuring that PTOs are able to deliver a seamless journey to their end-customers. Employees will benefit from career opportunities in a growing business with clients all around the world.

Supporting the next phase under Waterland ownership
Both BODE and Ventura have already demonstrated their ability to establish a strong position in highly specialised markets and, in doing so, to grow and improve profitability. As a part of Munich-based Schaltbau Group, majority-owned by private equity investor Carlyle since 2021, the former family business BODE has further enhanced its operational excellence and profitability over the years. Ventura has remained in the hands of its founders, Jeroen de Nooijer, Jan Lont and Bas de Nooijer, until now. Under their leadership Ventura has built up and scaled outstanding engineering capabilities, successfully expanded the business and established a highly successful company in bus access systems. With the founders reinvesting in the combined company, their knowledge and dedication will continue to serve all existing clients.

In the next phase, Waterland will work with the two companies – both of which are already strong in their own right – to build a European group with global relevance – something in which Waterland has a long and proven track record.

Tomas Simons, Partner at Waterland, said:
“BODE and Ventura complement each other well in terms of technology, geographic presence and customer relationships. Bringing them together is an important step in building a European group with global relevance in public transport door systems. It is important to note that BODE and Ventura are, and will remain, both strong companies in their own right, with complementary technologies, customer relationships and geographic reach. We look forward to supporting both teams in this next phase of growth, while preserving the strengths and cultures that have made both companies successful.”

Thomas Giebisch, CEO of BODE, said:
“Following the recent announcement of our partnership with Waterland, the combination with Ventura is the first important step in our collective journey. Ventura is a highly specialized company with strong engineering capabilities and an excellent position in bus door systems. Together, we can broaden our capabilities, strengthen our international reach and create additional value for our customers, especially in after-sales service. At the same time, continuity remains essential: At BODE, we will maintain our headquarters in Kassel, our established teams and our long-standing commitment to quality, reliability and customer service.”

Jeroen de Nooijer, Founder of Ventura Systems, said:
“This partnership marks an exciting new chapter for Ventura Systems. Over the years, we have built a strong international business based on innovation, engineering excellence and long-term customer relationships. In BODE and Waterland, we have found partners who share our ambition and values, and who can help accelerate our growth while preserving the culture that has made Ventura successful. This gives us the opportunity to continue building on what we have created, while strengthening our capabilities for clients.”

About BODE
BODE, founded in 1968, is a Germany-based specialist in door and access systems for rail vehicles and public transport. Headquartered in Kassel, the company employs more than 1,400 people worldwide and serves leading OEMs and operators across Europe, North America and Asia.
BODE develops and manufactures door systems designed for long service life, high reliability and demanding operating conditions. Its portfolio includes exterior and interior door systems as well as platform access solutions, with a strong focus on safety, durability and lifecycle performance.
In addition, BODE offers comprehensive after-sales services, including maintenance, repair and spare parts supply. With a global service network, the company supports customers throughout the entire lifecycle of its systems, ensuring high availability and operational reliability.
More information: www.bode-global.com

About Ventura Systems
Ventura Systems, founded in 1994, is a Netherlands-based specialist in door systems for buses and urban public transport. The company employs more than 300 people and serves customers in over 40 countries worldwide.
Ventura develops door systems for intensive urban use and has introduced technologies such as the Plug Sliding Door and the Rapid Sliding Door. The company works closely with customers to further develop its systems.
Ventura provides 24/7 service through trained technicians and local partners, supported by training programmes and a global spare parts network to ensure consistent high system availability.
More information: www.venturasystems.com

Press contacts:
Laurence Van Doosselaere | press@waterlandpe.com
Sebastian Köhnlechner | koehnlechner@asset-communication.de