Amsterdam – CFI is pleased to announce that it has acted as the exclusive corporate finance advisor to Public Search in its sale to Bolster Investment Partners (‘Bolster’).
Public Search is a leading provider of highly sought-after financial expertise that offers Interim, Secondment and Recruitment & Selection services for clients within the attractive and non-cyclical public domain. The company has a differentiating operating model that excels in delivering ambitious, high-quality specialists with a focus on the brightest professionals holding a university degree ensuring first-class solutions and services. The organisation currently employs 80 project consultants and 130 freelancers. To stimulate and boost the development of their project consultants, Public Search offers tailored (in-house) training and development programs via the Public Search Academy. The company was founded in 2008 by Mr Wilco Kosters and Mr Cengiz Çetintas. Public Search has grown organically by approximately 20% per year and expects over € 23 million revenue in 2021.
Bolster is a long-term investor specialising in minority interests and invests in exceptional Dutch companies with a keen focus and proven business model. Bolster helps entrepreneurs realise their company’s full potential by acting as equal partners. The team has a proven track record and successfully collaborated with over 100 companies since 1982.
With Bolster as a partner, the successful strategy of Public Search will be continued and complemented with various growth and professionalisation initiatives. Over the past few years the company’s founders have been transferring their responsibilities to a broader organisation, making the sale to Bolster a logical next step. Alongside Bolster, a significant part of the employees invest in the company, highlighting the team’s dedication and commitment.
Mark van Rijn, Partner at Bolster: “We are very happy that Public Search has chosen Bolster as its long-term partner. Public Search is a real peoples business that highly values its employees. By focusing on quality and specific profiles, a dominant market position has been built in the limited-cyclical market segments that the company has selected. We look forward to further developing and growing the organisation together.”
Wilco Kosters, co-founder of Public Search: “We are proud of what we have built together over all those years and where Public Search currently stands. The transfer of our knowledge and responsibilities has been conducted with the greatest care. In addition to the personal connection, we have a lot of confidence in the team of Bolster and their long-term investment focus. We leave a healthy and talented organisation behind us and are confident that, together with all the employees, the success story will be continued.”
CFI orchestrated discussions and negotiations during the process that ultimately resulted in the successful sale to Bolster, which closed on 8 October 2021. Cengiz Çetintas, co-founder of Public Search commented: “We selected CFI as they have proven experience in successfully closing transactions in the Staffing & HR Services sector. We valued the role of CFI and its execution during the transaction, resulting in a desired outcome for all stakeholders of Public Search.”
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