DealbookB e n e l u x

2 0 1 8 – 2 0 1 9

2

CFI ’s global footprint

C FI i s a t rus ted adv is o r wi th ove r 250M&A p ro f ess iona ls sp ec i a l i s i ng in c ross -bo rde r ac qu i s i t i ons , d i ves t i tu re s , c ap i ta lra i s ings , and re l a ted se rv i c es a l l ove rthe wor l d .

C F I f oc us es exc l us i ve l y on m idd l e -m ark e t t rans ac t i ons , w i th dea l s i z esrang ing f rom EU R 10 -50 0m. P e r annum,C F I c om pl e te s app rox im ate l y 15 0 M&At rans ac t i ons wor l dwide , i nvo l v ing i tsp ro f ess iona ls in 18 c oun t r i es ac ross 4c on t inen t s .

W i th in CF I , 1 6 ded i c a ted s ec to r teamsjo in t l y work to p rov ide indus t r y s p ec i f i c ,bes t - in -c l ass , c ross -bo rde r M&A adv i s o rys e rv i c e s to i t s i n te rna t i ona l c l i en t s .

B y our re l evan t M&A exp e r i enc e and in -dep th unde rs tanding o f t rends anddeve l op m ents in the s ec to rs , wes eaml ess l y adv i s e on c om pl ex c ross -bo rde r t rans ac t i ons whi ch has res u l tedin an un r i va l l ed M&A t rac k rec o rd ,unde rp inned by l ong- te rm and p e rs ona lc l i en t re l a t i ons h ips .

26Of f i ces

18Count r ies

16Sec to r s t eams

Roel te r S teegB u s i n e s s S e r v i c e s

Robber t C laassenB u s i n e s s S e r v i c e s , D i v e r s i f i e d I n d u s t r i a l s

Jaap de JongD i v e r s i f i e d I n d u s t r i a l s

Ramon Schu i tevoerderS o f t w a r e & I T S e r v i c e s ,B u s i n e s s S e r v i c e s

CFI Benelux’ senior team

I n 20 18 and 2 01 9 , CF I B enel uxc omp l e ted a to ta l o f 58 t rans ac t i onsw i th i t s 1 8 p ro f e s s iona l s .

We p rov ide our s e rv i c es in th ree m a ins ec to rs : B us iness S e rv ic es , S o f twa re &I T S e rv i c e s and D ive r s i f i ed I ndus t r i a l s .

Our f oc us i s on the m id-m ark e t , w i thdea l s i z es be tween EU R 10 -5 00m to ourc l i en ts whic h a re p ubl i c and p r i va tec omp anies , f am i l y , en t rep reneur o rp r i va te equ i t y owned .

We a re ex p e r i enc ed in p rov id ing M&Al ead adv i s o ry on s e l l - s i de t rans ac t i ons ,a c qu i s i t i ve s ec to r deve l op m ent ,nego t i a t i ons , and p rocess m anagem entto s uc c ess f u l l y gu ide M&A p roc es s es .

I n th i s doc um ent , we prov ide ins igh t inour rec ent t rack rec o rd o f c omp l e teddea l s .

B y sha r ing th is ove rv i ew with a de ta i l eds e l ec t i on o f ou r c reden t i a l s , weenc ourage y ou to ge t in c on tac t w i th us .

Wim Fo lensB u s i n e s s S e r v i c e s

Raoul DuysensD i v e r s i f i e d I n d u s t r i a l s

Dr ies BossuytD i v e r s i f i e d I n d u s t r i a l s

Mar io van GasseS o f t w a r e & I T S e r v i c e s ,B u s i n e s s S e r v i c e s

Mart i jn L iemB u s i n e s s S e r v i c e s ,D i v e r s i f i e d I n d u s t r i a l s

Kev in Dr iesenD i v e r s i f i e d I n d u s t r i a l s ,B u s i n e s s S e r v i c e s

Pieter de Vr iesS o f t w a r e & I T S e r v i c e s ,B u s i n e s s S e r v i c e s

18M&A pro fess iona ls

58Transac t ions

3Focus sec to r s

3

4

ClientMandate

I n the l as t 24 m onths , C F I c omp l e ted 58ass ignm ents , i nc l ud ing 3 7 s e l l - s i de and2 1 buy - s ide m anda tes .

T hes e va r i ed ass ignm ents res u l ted in 26c ross -bo rde r t rans ac t i ons , p r im ar i l y i nWes te rn Europ e .

B y our f oc us on the m id-m ark e t , ou rc l i en ts a re m a in l y bus inessowners / f ounde rs and p r i va te -equ i t y( bac k ed ) c om p an ie s .

T he vas t m a jo r i t y o f ou r dea l s hadp r i va te equ i t y invo l vement , rep res en t ing4 7 dea l s wh ich have led to s ucc ess f u lp r im ar i e s , s ec onda r i e s , add-ons and P E-ex i t s .

Our highlights

TypeGeography

Sell-side

Domestic

Cross-border

Founder

PE-backed

Strategic

Financial

Listed

Primary

Add-on

Secondary

PE-exit

Strategic

MBO/MBI

Buy-side

3721

32

26

9

5

26

7

9

2

21

17

11

6

3

5

Our em phas is on th ree c o re s ec to rsenab l e s us to add va l ue f o r ou rc us tom ers in the i r t r ans ac t i ons . T h is i sa l s o ap p a ren t f rom our dea l f l ow ,dem ons t ra t ing an a t t rac t i ve p rop os i t i onw i th in our f oc us a reas .

T he l ong- l a s t ing c l i ent re l a t i ons and in -dep th s ec to r ex p er i enc e y ie l dedp rop r i e ta ry in f o rm at ion , whic h wec onve r ted in to our M&A P ul s es .

F u r the rm ore , we hos t , a t tend andf ac i l i t a te s eve ra l i ndus t r y - re l a tedeven ts .

Our f requen t p ub l i s h ing e f f o r ts inc l udethe MT Manuf ac tu r ing Indus t r y top -1 00 ,the C omp utab l e top-1 00 and theF l ex m ark t l a rges t s ta f f i ng c om p an ie s .

Our exper t ise

Deal spli t per sector

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Software & IT Services

Diversified Industrials

Business Services

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Other

6 10

12 14

11

312

32

Business Services

32

Subsectors

General Staffing

TIC

Professionals

Training & Education

6

R&S

6

20

3

2 1

D e t a i l s

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o nD e s c r i p t i o n

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

January 2018

Sale of recruitment andproject staffing firm forHR and financialspecialists ClearXpertsby its managingshareholders to ASAP, aBelgian primarily blue-collar temporary staffingcompany

Professionals

June 2018

Sale of mténv, a white-collar engineeringrecruitment company inconstruction and civilengineering sectors,Continu, a specialiseddivision of the House ofHR

Recruitment & Selection

June 2018

Acquisition ofSchollmeyer & Steidl, aGerman recruitmentcompany for lawyers, byVialegis, a specialiseddivision of the House ofHR

Generatl Staffing

July 2018

Acquisition of VNOM, afast-growing Dutch blue-collar engineeringstaffing company, byCovebo, a specialiseddivision of the House ofHR

Professionals

August 2018

Acquisition of Eiffel, awhite-collar legal andfinance professionalssecondment firm, byDutch private equityinvestor Gilde EquityManagement from itsfounders

Professionals

October 2018

Sale of ORMIT, theleading traineeship andleadership developmentprovider in the Benelux,by Bolster InvestmentPartners and TIIN Capitalto Pauwels Consultingand the Belgianinvestment firm 3DInvestors

Professionals

November 2018

Sale of QISS-IT, asecondment specialist ofyoung IT professionalsbased in the Netherlandsand Curacao, by itsfounder to univativGroup, a Germanprovider of specialisedpersonnel services

TIC

July 2018

Sale of Arbo Support, aconsulting, projectsupport, and trainingfirm in industrial safetyand occupationalhygiene, by its foundersto DEKRA, one of theworld’s leading safetyexpert organisations

7

Recruitment & Selection

D e t a i l s

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o nD e s c r i p t i o n

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

November 2018

Sale of Careflex ZorgGroep, the largestindependent externalhealthcare provider forcomplex care with aproven and distinct BPOproposition in theBenelux, by its foundersto Bolster InvestmentPartners

Professionals

December 2018

Acquisition of ITDS, aDutch financialconsultancy firm focusedon insurance companies,banks and pensionfunds, by Redmore, aspecialised division ofthe House of HR

Professionals

December 2018

Sale of engineeringconsultancy companyCauberg-Huygen by DPAGroup, the listedsecondment andrecruitment specialist, toDolmans, a family-owned facilitymanagement specialist

General Staffing

December 2018

Sale of DIT, a leadingstaffing and secondmentfirm for skilled technicalpersonnel includingconstruction workers,technical employees andpainters

General Staffing

May 2019

Sale of Stipality, astaffing solutionsprovider of migrantworkers in foodprocessing, productionand logistics, to theBelgian investmentholding Heylen Group

Professionals

June 2019

Acquisition of TMC, aninternational outsourcedR&D and engineeringconsultancy company, byErgon Capital fromprivate equity firm GildeBuy Out Partners

General Staffing

June 2019

Sale of Cottus, anindustrial andinstallation secondmentfirm by its founders toThe Employment Group,adding new verticals andtraining capabilities toits offering

Professionals

May 2019

Sale of Welten, a financeprofessionalssecondment firm inprimarily banking andinsurance sectors by theDutch private equity firmSynergia

8

Professionals

D e t a i l s

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o nD e s c r i p t i o n

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

July 2019

Sale of Verhoeve, afinancial and HR staffingprovider in healthcareand the public domain,to Quoratio, a temp-to-perm specialist inhealthcare

Professionals

July 2019

Sale of SamenProfessinals, aspecialised secondmentsolutions provider in thehealthcare andeducational sectors, byits founders tohealthcare staffingspecialist Aethon

Professionals

September 2019

Acquisition of ETA, aFrench consultingcompany providingspecialised technicalassistance provider intelecom and utilities, byGRITT, a specialiseddivision of the House ofHR

Professionals

October 2019

Sale of Prosource,specialised consultingand staffing company, toStrand Associates

Professionals

November 2019

Sale of MediPartner, afast-growing provider ofsales professionals topharma and biotechcompanies, to We AreJane, a private equityfund investing ingrowing businesses ledby female entrepreneurs

General Staffing

November 2019

Acquisition of asignificant stake inOlympia, the 6th largeststaffing company in theNetherlands, by MorganStanley Tactical ValueInvesting

Training & Education

December 2019

Sale of Better Minds atWork, a provider ofkeynotes, workshops,coaching services andconsultancy on acorporate well-being, toenergy@work, a part ofGolazo

General Staffing

October 2019

Sale of Eurojob, a Dutchstaffing specialist forqualified CEE workers infood retail, logistics andproduction sectors, by itsfounders to Covebo, aspecialised division ofthe House of HR

9

Professionals

Software & IT Services

11

Subsectors

Enterprise Software

(Managed) IT Services

Adtech, Martech& Digital

Cybersecurity 4

3

3

1

10

D e t a i l s

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o nD e s c r i p t i o n

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

June 2018

Sale of Dobco MedicalSystems, a SaaS softwareprovider specialised inweb-based medicalimaging solutions, by itsfounders to Fortino, tosupport and facilitatefurther acceleratedgrowth

Enterprise Software

July 2018

Sale of Companyweb, anintegrated provider offinancial and businessinformation via itsautomated web-basedplatform, in a buy-out byits founders andSofindev private equity

Adtech, Martech & Digital

December 2018

Sale of digital marketingand CRM agency Luon byits managingshareholders to Intracto,a private equity-backeddigital agency

Enterprise Software

July 2019

Sale of Dotweb, aprovider of verticalmarket softwaresolutions for absenceand sick leavemanagement, to Visma

Cybersecurity

July 2019

Sale of DataExpert, adigital forensics andcybersecurity softwaresolutions provider, byCommitted Capital toQuadrum Capital

(Managed) IT Services

August 2019

Sale of Pylades, aMicrosoft Dynamics 365ERP and CRM softwarespecialist, by itsfounders to WaterlandPrivate Equity, in thefoundation of the AdUltima Group

(Managed) IT Services

August 2019

Sale of Ymor, a Dutch-Danish APM, ITOA andAIOps specialist, by MainCapital Partners toSentia, a Managed Cloudservices provider

Adtech, Martech & Digital

July 2019

Sale of Dutch front-enddevelopment specialistFrontmen by AuxiliumCapital to the Belgiandigital agency Intractoas a part of its the pan-European buy-and-buildstrategy

11

Enterprise Software

Diversified Industrials

12

Subsectors

3

2

2

2

1

1 1

Energy

Paper, plastics & packaging

Manufacturing

Technical services

Real Estate & Construction

Food, Beverages & Agri

Machinery

12

D e t a i l s

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o nD e s c r i p t i o n

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

June 2018

Sale of Daas Baksteen, afamily-owned producerof high-end, high-qualityfacing bricks and claypavers to the Austrianlisted internationalindustrial groupWienerberger

Food, Beverages & Agri

October 2018

Acquisition of OerlemansFoods, a grower,producer and supplier offresh frozen vegetablesand fruit products, by theSpanish Virto Group fromH2 Equity Partners

Paper, Plastics & Packaging

October 2018

Sale of LoVen, amanufacturer of PVCstandard caps andprotective sleeves, by itsfounders to Caplugs, asupplier of protectivecaps, plugs, and customengineered products

Food, Beverages & Agri

November 2018

Acquisition of Chrysal, aNetherlands-basedprovider of premiumflower and plant careproducts, by OAT Agrio,a Japanese producer offertilizers and pesticides,from Nordian Capital

Real Estate & Construction

February 2019

Acquisition of theBelgian clay brickmanufacturing businessFloren & Cie by the UKlisted Michelmersh BrickHoldings

Manufacturing

February 2019

Sale of RheinhüttePumpen, a leadingsupplier of highlyengineered pumpssuited for handlingaggressive substancesand special applications,to ITT, a manufacturer ofhighly engineeredcritical components

Manufacturing

May 2019

Sale of the ceramicsdivision of Friatec, aleading Germanspecialist manufacturerof high-end technicalceramics, to Kyocera

Energy

January 2019

Sale of Sunrock’s 33MWp Belgian solarenergy portfolio of 100rooftop-mountedprojects to Patronale, aBelgianlife-insurance company

13

Real Estate & Construction

Other

3

Subsectors

Consumer Goods & Retail

Sports & Leisure

Logistics

1

1

1

14

D e t a i l s

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o n

D e s c r i p t i o n D e s c r i p t i o n D e s c r i p t i o nD e s c r i p t i o n

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

D e t a i l s

S u b - s e c t o r

June 2018

Acquisition of KVG-Trans, a transportationcompany specialised inhandling hazardousgoods (ADR), by VanMoer Logistics

Sports & Leisure

December 2018

Sale of Snow-Planet, ahigh-quality anduniquely located indoorski park, to SnowWorld,the listed operator ofindoor ski resorts andhospitality facilities

Consumer Goods & Retail

August 2019

Capital raising forAvanca, known by themobile, lifestyle andsmart home brandsAVANCA®, SINJI® andHOMBLI® by attracting anew investor

15

Logistics

Amsterdam off iceAmstelz i jde 851184 TZ AmstelveenThe Netherlands

Brussels off iceZuiderlaan 14B-1731 Zell ikBelgium

Contact detai ls