Amsterdam – CFI Netherlands (“CFI”) is pleased to announce that it served as the exclusive corporate finance advisor to DetaConnect B.V. (“Cottus” or the “Company”), a leading staffing and secondment services provider of skilled technical workers, in a successful sale to The Employment Group B.V. (“TEG”), a portfolio company of Egeria. TEG acquired all of Cottus’ shares from its founders and management Mr Derk Meijer and Mr Gerrit van Buul. Both become shareholder in TEG. CFI Netherlands acted as exclusive sell-side adviser to Cottus.
Cottus was founded in 2008 and stands out as the leading provider of high-quality technical workers for the Dutch industrial and installation sectors with approximately 700 skilled workers, such as welders, electricians, mechanics and mechanical engineers. The Company’s training facilities are actively deployed to tap into a unique sourcing channel to meet today’s shortages in the labour market. Mr Derk Meijer and Mr Gerrit van Buul will remain at the helm of Cottus and will play a vital role in the further growth of the Company within the TEG group of companies.
The Employment Group (TEG) is an innovative staffing platform that consists of independent companies in the staffing industry. They focus on professionals and craftsmen in specialist market segments through the labels of Voort, koen and Faber. TEG enables these companies to allow them to enhance their position as market leader or to grow and become market leader in their segment. TEG is also a multi-year staffing client of CFI’s business services M&A team.
Egeria is an independent Dutch investment fund which focuses on healthy, well-managed and mid-sized companies which either are Dutch or have a link to the Netherlands. Egeria generally invests in companies with a business value of between 50 and 350 million euros, aiming to create long-term value for all stakeholders through cooperation with management, and on the basis of mutual respect and trust, with the purpose of further development and growth of the company. At the moment, Egeria manages assets to the amount of over 1.7 billion euros.
Mr Derk Meijer, co-founder at Cottus, commented on CFI’s role in the transaction: “We hired CFI because of their excellent track record in the HR services sector. We are very excited to become part of the TEG family and believe there is a strong cultural fit.”
CFI initiated discussions and negotiations in a process that ultimately resulted in a successful transaction. The transaction’s execution is subject to regulatory approval by the Dutch Authority for Consumers & Markets (ACM).
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