Amsterdam – Corporate Finance International (‘CFI’) is pleased to announce that it acted as the exclusive corporate finance advisor to the shareholders of TechMatch B.V. (‘TechMatch’ or the ‘Company’) in its sale to Continu Group B.V. (‘Continu’), the Dutch white-collar engineering staffing business of House of HR NV (‘House of HR’), a portfolio company of Naxicap Partners.
TechMatch was founded in 2004 by Mr Crone and Mr Van Vroenhoven, and is an independent engineering staffing specialist that supplies approximately 200 blue- and white-collar engineering professionals specialised in mechanical engineering, process engineering and electrical engineering. TechMatch focuses on several technology niches including high-tech, machinery, food, production and IT & automation. It currently operates from offices in Eindhoven, Breda and Nijmegen, in the proximity of the Brainport region, which is a renowned technology region home to world-class high-tech and machine-building companies.
House of HR is the holding company for 10 operating companies representing a total of 34 brands. House of HR is a leading HR services provider focused on four specific types of staffing: (i) Engineering & Consulting, (ii) Specialised Staffing, (iii) General Staffing and (iv) Digital Staffing, and has a branch network of over 500 offices distributed across 10 countries. House of HR is of Belgian origin and is headquartered in Roeselare (West-Flanders). The non-consolidated turnover for 2018 came to more than € 1.7 billion. House of HR is a portfolio company of Naxicap Partners, one of France’s leading private equity companies with approximately € 3.2 billion of assets under management.
Continu was acquired by House of HR in 2015 in a transaction in which CFI advised the sellers, marking House of HR’s first steps into the Dutch white-collar engineering staffing market. Continu has grown exponentially ever since both organically and through add-on acquisitions, including CFI’s sell-side transaction mténv in 2018 and now TechMatch.
Mr Crone and Mr Van Vroenhoven, founders and co-shareholders of TechMatch, commented: “CFI has been a trusted sparring partner to us for many years now on relevant strategic topics involving our business. From the first instance, we believed that a possible tie-up with Continu would create immense opportunities for us and our colleagues at TechMatch. Leveraging CFI’s strong domain expertise within Staffing & HR Services, their first-hand understanding of the strategic agenda of the buyer, coupled with excellent execution, CFI has delivered a highly appreciated outcome in this transaction for us.”
CFI orchestrated discussions and negotiations in a process, which ultimately resulted in a successful sale to Continu and House of HR, that closed on 23 January 2020.
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Eurojob, a Dutch specialist provider of qualified CEE workers for the Dutch food retail, logistics and production sectors, has been sold to House of HR, the holding company for 10 staffing and HR services companies representing a total of 34 brands. House of HR is a portfolio company of Naxicap Partners.