Transactions in the Dutch HR Services market: the ten most remarkable deals of 2025

Pieter de Vries

Partner, Managing Director

IN COOPERATION WITH INDUSTRY MAGAZINE FLEXMARKT

Amid continued labour shortages, declining staffing volumes and increasing regulatory pressure, the Dutch flexible labour market recorded a total of 39 transactions in 2025. Buy-and-build strategies once again proved to be the dominant theme across the sector. Based on the transactions monitored by CFI in the Dutch flexible labour market, we have selected the ten most remarkable deals of 2025.

1. House of HR acquires Pro Industry

House of HR strengthened its position in the Netherlands through the acquisition of Pro Industry via its subsidiary House of Covebo. Pro Industry focuses on technically skilled professionals in the process and manufacturing industries. The company has delivered impressive growth in recent years and the transaction ranks among the largest deals of the year. Through the transaction, Avedon Capital Partners achieved a full exit. Avedon was previously also a shareholder of Olympia until the end of 2019. The acquisition illustrates the continued importance of buy-and-build strategies in the sector, in this case pursued by House of HR with the backing of Bain Capital and Naxicap.

2. Navitas Capital invests in dyo

Navitas Capital, the investment company of the Zeeman family, acquired a majority stake in dyo, the group behind labels including Olympia and Vapro. Olympia is the seventh-largest staffing company in the Netherlands. The investment supports the next phase of growth under the current management team, led by Dimitr Yocarini. The transaction underlines the continued interest of private equity in established, broadly positioned staffing platforms. The seller was Morgan Stanley Tactical Value, which acquired the business from Avedon Capital Partners in 2019.

3. Team Eiffel acquires Wepro

Team Eiffel expanded its engineering and secondment activities with the acquisition of Wepro. The transaction fits within Team Eiffel’s strategy to further develop its multidisciplinary platform across legal, finance and engineering. With private equity backing from TowerBrook and Gilde Equity Management, Team Eiffel continues to add niche specialists to deepen its sector expertise and strengthen its position in project-based services. Team Eiffel’s group also includes DPA.

4. Flexfamily acquires Level One Uitzendbureau

Flexfamily, a multi-brand staffing group and subsidiary of the French Actual Leader Group, acquired Level One Uitzendbureau, based in Emmeloord. Flexfamily has become one of the most active consolidators in the Dutch market, following earlier acquisitions including Aelbers, Fides, Seesing and Maqqie. Level One is active in international labour mediation.

5. Consolid acquires 24/7 Drive

Consolid, a specialist in logistics staffing and training backed by Scheybeeck, the investment company of Dick Burger, acquired 24/7 Drive. The transaction increases Consolid’s scale in transport and logistics, a segment characterised by structural labour shortages. The deal is considered the largest transaction in this niche in 2025. The shareholders of 24/7 Drive reinvested in Consolid, meaning the transaction can also be viewed as a merger.

6. Copus Group acquires Eminent

Eminent, a specialist in technical staffing, was acquired by Copus Group, a Belgian technical staffing platform backed by Belgian investors Dovesco and Buysse & Partners. Copus has been highly active in the Dutch M&A market, with previous acquisitions including Enginear and Stratt+. The acquisition highlights the continuing trend of Belgian staffing companies acquiring Dutch peers.

7. The Trainee Company acquires Werkmandejong

Werkmandejong, which focuses on finance professionals, was acquired by The Trainee Company, a traineeship platform backed by Quadrum Capital. The acquisition broadens The Trainee Company’s offering from graduates and early-career talent to more experienced professionals. This transaction also fits within the broader buy-and-build strategies being pursued by private equity-owned businesses in the sector.

8. Endeit Capital invests in Aethon Group

Endeit Capital made a minority investment in Aethon Group, a Dutch provider of staffing and secondment services with a longstanding focus on healthcare, education and the public sector. The investment supports the further development of Aethon’s AI-driven workforce platform and the expansion of its internal training capabilities, aimed at addressing persistent staff shortages.

9. Van Uden Holding acquires Linden-IT

Investor Van Uden Holding acquired Linden-IT, a specialist in IT secondment. The acquisition diversifies Van Uden Holding’s portfolio, which has historically been focused primarily on logistics and industry. Linden-IT was founded by Cok Mudde, Guido Vervelde and Gerbert Jan Valk, with the latter remaining as CEO. Mudde and Vervelde have a strong track record in building successful businesses, having previously founded companies including Rijnhaave, QMagic, Peak and Exa-IT.

10. The Specialist Group acquires NLIST

The Specialist Group (TSG), a Western European provider of technical specialists backed by Oaktree Capital Management, acquired NLIST, a Dutch secondment company placing highly skilled international engineers, particularly South African specialists, in the Netherlands. The transaction strengthens The Specialist Group’s international recruitment capabilities and responds to growing demand for technical talent. This transaction also forms part of an active buy-and-build strategy.

Outlook for 2026

Buy-and-build platforms are expected to remain highly active in 2026, particularly in specialist segments such as engineering and technology. The number of transactions is expected to increase compared with 2025, supported by several developments. First, market sentiment has improved compared with last year. Second, with the introduction of the WTTA in 2027 now approaching, increasing regulatory pressure is expected to drive further consolidation, as companies seek greater scale and professionalisation. Finally, there is a backlog of transactions that were put on hold last year due to weaker performance, which are expected to come to market in 2026.