House of HR acquired VNOM

Brussels – Corporate Finance International (‘CFI’) is pleased to announce that it acted as financial advisor to House of HR in the acquisition of VNOM.

House of HR is a Belgian based staffing group which is backed since 2012 by Naxicap, a French private equity fund. House of HR comprises several staffing companies operating under their own brand in their own specific field and geography. It generated EUR 1.7 billion revenues and EUR 188 million EBITDA in 2018 covering mainly Belgium, The Netherlands, Germany and France. Since 2015 House of HR has made over 20 acquisitions in general and specialized staffing and recruitment & selection.

VNOM, a Dutch fastgrowing company staffing Dutch craftsmen and realizing EUR 17m sales at the time of acquisition, was acquired in July 2018 by Covebo, a subsidiary of House of HR.

The founder of VNOM was looking for a strategic partner to further accelerate the growth and at the same time wanted to continue as managing director and minority shareholder of VNOM. VNOM was an ideal add-on acquisition for Covebo expanding Covebo’s strengthening its presence in that region in the Netherlands and expanding the scope of services in terms of offering skilled blue collar labor.

Through his longstanding relationships, reputation and sector expertise House of HR succeeded to win the auction in an efficient and effective process. By means of a creative and tailor made acquisition proposal, including the opportunity for the founder to re-invest, the transaction was completed in a short time span.

The transaction closed in July 2018.