Amsterdam – CFI is pleased to announce it acted as the exclusive corporate finance advisor to TIM Technical Recruitment (“TIM”) in its sale to Create Capital Partners (“Create Capital”).
TIM is a fast-growing recruitment and secondment firm for scarce technical engineering talent to Dutch businesses operating in the construction and industrial sectors. The company focuses on temp-to-perm secondment activities (‘detavast’), targeting corporate and SME clients with a recurring and challenging need for scarce technical professionals through its offices in Eindhoven (HQ), Hilversum, ‘s-Hertogenbosch and Breda. Through years of experience in technical staffing, excellent sourcing capabilities and a unique approach to attract and retain talent, TIM has been able to stand-out vis-a-vis competition.
About the transaction
Founded in 2014, TIM has grown into a household name in the field of recruitment and secondment for construction and industrial companies. From this position, its founder Tim Bijnen aims to achieve accelerated growth through acquisitions and by opening additional offices throughout the Netherlands. Together with investor Create Capital, who brings years of operational experience and a successful buy-and-build track record, TIM’s growth ambitions can now be expedited. TIM’s successful sale to Create Capital was completed on 16 June 2022.
CFI’s role in the process
CFI was invited by founder/shareholder and CEO Tim Bijnen, with whom CFI already maintained a longstanding relationship since selling his shares in his previous staffing company Evoke, to orchestrate the sales process. CFI established a list of relevant potential buyers, giving TIM the opportunity to pitch its ambitious growth plans to the right potential partners. CFI subsequently coordinated the due diligence process and led the negotiations, which resulted in a successful transaction with Create Capital.
Tim Bijnen, founder of TIM: “CFI and I have known each other for many years and have always maintained a very good strategic dialogue. Throughout the entire process, CFI successfully safeguarded my interests and ensured ideal conditions for this great deal. I am very excited with the outcome and strongly believe that the partnership with Create Capital will help realise my personal ambitions and accelerate TIM’s growth.”
Mathieu Zwinkels, Managing Partner Create Capital: “We are very pleased with this smooth and professionally managed process, that has led to the launch of Create Capital’s first fund and this first deal. An investment in TIM fits well with Create Capital’s strategy to support entrepreneurs realising the growth ambitions of their growing, high-quality businesses.”
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