CFI advised DNA360 on its sale to Please Payroll

Amsterdam – CFI acted as the exclusive corporate finance advisor to DNA360 on its sale to Please Payroll.

DNA360 is a payrolling servces provider to small and midsized companies in the southern part of the Netherlands, as well as an outsourced backoffice services and HRM solutions provider to intermediaries (including temporary staffing and secondment companies) that operate on a national level. Following years of sustained organic growth, DNA 360 developed into a reputable market player with approximately €24 million in revenues.

Please Payroll is a fast growing payroll organization with national coverage, supplying a broad range of HR services such as payrolling, benefits and pension administration, and absenteeism prevention, with consolidated revenues of approximately €84 million.

The transaction lays the foundation of the group’s ambition to reach a top-3 position in the Dutch payrolling market by 2020, targeting consolidated revenues of about €250 million. The merger of the two companies creates a more dominant position for Please Payroll in terms of size whilst reaping the benefits of significant operational synergies and economies of scale. The executive board will consist of Mr Hans van de Ven as CEO (and co-founder of Please Payroll), Mr Gertjan van Stratum as CCO (and founder of DNA 360), and Please Payroll CFO Mr Albert Zwaans as the new group CFO.

CFI facilitated discussions and negotiations in a process that ultimately resulted in a successful transaction with Please Payroll, which closed 21 July 2015.