10 Select has been sold to nGAGE Specialist Recruitment
Amsterdam – Corporate Finance International (‘CFI’) is pleased to announce that it has acted as the exclusive corporate finance advisor to 10 Select in its sale to nGAGE Specialist Recruitment (hereafter referred to as ‘nGAGE’), a portfolio company of Graphite Capital.
10 Select is a white-collar recruitment firm focused on engineers for the manufacturing and process industry in Belgium and the Netherlands. The Company was founded in 2010 by Philip Drabbe, Marinka Potters and Michael Roozen. 10 Select operates from offices in Antwerpen and Breda. Michael Roozen will now step into an advisory role while Philip Drabbe and Marinka Potters will continue to lead the company under the leadership of Tim Cook, the CEO of nGAGE.
Founded in 2007, nGAGE is a UK-based privately-owned specialist recruitment firm. With this transaction nGAGE accelerates its M&A programme into Europe. Tim Cook, nGAGE CEO commented “This is what sets nGAGE apart, we can enable management to accelerate their ambitious growth plans whilst retaining their identity and culture whilst giving them all the benefits of being part of a larger group. Strategically, whilst the sector continues our move to balance the portfolio, it excitingly, adds real horsepower to our international adventures. We now have significant presence in Germany & the Netherlands and the ability to payroll our Group contractors through this latest acquisition to the nGAGE platform will streamline our processes significantly. The Netherlands is a great place to do business – brilliant country, brilliant people. I’m genuinely pumped by this latest addition to the Group.”
The three co-founders of 10 Select created a solid foundation and found it was time to accelerate the business by finding a strategical partner to support their expansion, i.e. opening new offices in areas where technical talent is scarce and needed. 10 Select’s Managing Director, Philip Drabbe, added “It’s the nGAGE model that attracted us and will enable us to deliver our management plans to expand and grow our already great business. nGAGE is a natural partner for us and will provide significant capital for expansion. We have had a great journey so far, but this move will take us into a different league. The team and I are ready to accelerate and double the size of 10 Select.”
Philip Drabbe added: “We are very pleased to have found a partner in nGAGE and look forward to combining both companies into a dominant player in Europe. We very much valued the role of CFI during our continuing dialogue, their in-depth sector expertise coupled with excellent execution resulted in the desired outcome for all shareholders of 10 Select.”
The sale of 10 Select to nGAGE closed on 5 May 2021. This transaction further emphasises CFI’s leading position in the Staffing & HR Services sector, closing CFI’s 26th transaction in the past 24 months.
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