Portobello closes the sale of Grupo CTC to Randstad


Transaction signed in June, antitrust clearance achieved
Madrid, 25th October 2023.- Today Portobello Capital, the leading independent midmarket private equity manager based in Spain, announced it has closed the sale of
Grupo CTC to Randstad NV, the world’s largest talent company.

Grupo CTC provides outsourced industrial, logistics and sales & marketing services to
customers in its home market of Spain and in Portugal. The company currently operates
from 14 regional offices and 11 owned logistics facilities, servicing over 200 customers.
Demand for outsourcing services is growing significantly in Spain and, with the proposed
acquisition, Randstad will continue to expand its leadership presence in the region. The
move is in keeping with Randstad’s broader strategic objective of strengthening its
capabilities in value added services for customers in key markets.

“We are investors in the different companies which are now part of CTC since 2006.
During this period, CTC has become the absolute leader in the outsourcing market, and
we want to compliment Juan-Cruz Alcalde and the rest of the management team for
growing this organization to date. We are absolutely convinced that as part of Randstad,
Grupo CTC will continue to accelerate and deliver excellence to its customers in Spain
and Portugal.”

— Luis Peñarrocha, Founding Partner of Portobello
The transaction was signed in July and completion was subject to antitrust clearance,
which was achieved on October 11th.

about randstad
Randstad is the world’s largest talent company and a partner of choice to clients. We are committed to
providing equitable opportunities to people from all backgrounds and help them remain relevant in the rapidly
changing world of work. We have a deep understanding of the labor market and help our clients to create
the high-quality, diverse and agile workforces they need to succeed. Our 46,000 employees around the
world make a positive impact on society by helping people to realize their true potential throughout their
working life.

Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. In 2022, in our 39 markets,
we helped more than 2 million people find a job that feels good and advised over 230,000 clients on their
talent needs. We generated revenue of €27.6 billion. Randstad N.V. is listed on the Euronext Amsterdam.
For more information, see www.randstad.com

about Grupo CTC
Grupo CTC was created through the complementary integration of two leading companies in the outsourcing
industry, Stock Uno, specialized in operational marketing, and CTC Externalización, leader in logistic and
industrial processes. Grupo CTC renders a wide range of high value-add services to customers enhancing
productivity, flexibility, focus on core tasks and capital management. Headquartered in both Madrid and

ALMAGRO, 36 – 28010 MADRID NIF: A-86262375
Inscrita en el Registro de la Comisión Nacional del Mercado de Valores, nº 92
y en el Registro Mercantil de Madrid, tomo 29.064, folio 80, sección 8ª, hoja M-523.318
Barcelona, Grupo CTC counts with a rich 35 year history in the market, possessing significant capillarity
across 14 branch offices in Spain and Portugal. For more information, please refer to the Grupo CTC website
at www.grupoctc.com/

about Portobello Capital
Founded in 2010, Portobello Capital is a leading independent mid-market private equity manager based in
Spain and operating across Southern Europe. Portobello Capital has assets under management worth more
than 2 billion euros, an experienced team of 40 professionals and a current portfolio of 22 companies. For
more information, please refer to the Portobello Capital website at www.portobellocapital.es/en/

Categories: News


Ardian announces the sale of its stake in Mobius Group to Groupe Saretec


Ardian, a world-leading private investment house, announces that it has sold its stake in Mobius Group, a tech-enabled mobility and fleet management operator headquartered in Madrid, Spain.

Founded in 2014 by José Piñera, Mobius is a pioneer fleet management, car repair, appraisals, and mechanical warranties player. The company leverages a set of proprietary technological solutions to help customers to digitalize their processes.

With more than €40 million in sales, Mobius is the leading Iberian platform for fleet managers assisting top tier renting and rent-a-car international players as well as major Spanish financial institutions and insurance companies.

Since the Ardian’s Growth team took a stake in the company in 2018, Mobius has more than doubled its revenues and completed 4 acquisitions enabling the company to both diversify its product offering and enlarge the customer base. Mobius has also strengthened its technological expertise by investing in and commercializing new software tools.

“The Ardian’s Growth team has supported us in our development both in terms of new product deployment and build-up plan. Since their investment, they helped us challenge our strategy to scale the company and strengthen our technological positioning. “ José Piñera, Founder and CEO of Mobius Group

“Congratulations to José and the whole Mobius team. It has been very exciting to work alongside them in these years.  Mobius is a great example of Ardian growth’s playbook: identify the leading companies in Europe and help them accelerate the growth via product and geographical expansion as well as build-up strategy.“ Romain Chiudini, Managing Director Growth, Ardian






Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.


Founded in 2014 by José Piñera and headquartered in Madrid, Mobius is the leading Iberian player in the supervision of maintenance, repair and appraisal services for fleet managers.
With more than 250 experts and a large network of garages across Spain, the company offers an end-to-end platform allowing process digitalization, data management and cost optimization.



Categories: News


Projective Group grows its team to over 1100 financial industry experts and further strengthens its service offering with the acquisition of Finance Club

  • Projective Group’s team grows to over 1100 financial industry specialists, positioning the company as a leading, end-to-end consultancy firm for financial services in Europe.
  • Complementary with Talent service offering of Projective Group and other offerings in Data, Transformation, Risk & Compliance, and Payments.
  • Latest acquisition aligns with Projective Group’s core DNA and is the latest milestone of the buy-and-build strategy of the group.

1 September 2023, Brussels – In a significant move, financial services consulting company Projective Group has successfully acquired Finance Club, a respected Dutch Staffing & Talent organisation. This strategic acquisition catapults Projective Group’s team to an impressive count of over 1100 financial industry experts across Europe, affirming its unparalleled stronghold in the region’s financial services sector.
Founded in 2015 by Stijn van den Borne and Michiel Van Brussel, Finance Club is a young organisation driven by the ambition to become the best-in-class Staffing & Talent provider to the Dutch financial industry. Their expertise encompasses various domains such as Compliance (KYC & AML), Finance, Banking, Risk & Audit, PMO, and Data & Analytics. In a period of less than 8 years, the company has evolved to a team of 400+ professionals that are deployed at the tier 1 banks in the Netherlands.

Stefan Dierckx, CEO Projective Group said: “The addition of Finance Club to our group, signifies a strategic move towards our mission of becoming the premier partner for financial institutions across Europe. In addition to their expertise, they bring along a team of 400 specialists, augmenting our team to over 1100 professionals, all possessing a unique expertise in the financial industry. This level of expertise sets us apart and is nearly unmatched in the field.”

“From our initial discussions, it became clear that there was a strong synergy between our clients and expertise. This presented us with a chance to enhance the value we provide to our clients and create new paths for growth and opportunities both for Finance Club and Projective Group employees. This merger into the group embodies the idea, in every sense, that the whole is indeed greater than the sum of its parts.”Stijn van den Borne, co-founder Finance Club.

Finance Club’s services seamlessly complement Projective Group’s existing Talent offering (Exellys) which is currently offered in Belgium, The Netherlands, and The United Kingdom. Furthermore, by blending Finance Club’s strengths in Staffing & Talent with Projective Group’s Talent and in-depth consulting expertise, they will be able to take on more responsibility, serve their clients even more effectively and generate durable outcomes as a complete solutions provider.

Michiel van Brussel, co-founder of Finance Club said: “We were ready for the next step in our journey, searching for an exciting new challenge that would
propel us forward not only within Dutch borders but also on an international scale. When Projective Group approached us, it was immediately evident that our offering, culture, aspirations, and outlook for the future were closely aligned. We’re very excited for what lies ahead.”

Through this recent acquisition, Projective Group solidifies its position as a driving force for change and excellence in the financial industry. This development also foreshadows further impactful initiatives on the horizon.

Categories: News


Balance Point Announces its Follow-On Investment in Concord Servicing

Balance Point Capital
Westport, CT, August 30, 2023 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated fund, Balance Point Capital Partners V, L.P., is pleased to announce its follow-on investment in Concord Servicing Corporation (“Concord”, “the Company”), a portfolio company of Inverness Graham Investments (“IGI”). Balance Point provided a creative, flexible financing solution that facilitated Concord’s acquisition of Equiant.
Founded in 1988 and headquartered in Scottsdale, AZ, Concord is a full-scope loan servicer delivering innovative, flexible, and scalable portfolio servicing and SaaS solutions to meet the demands of loan originators and capital providers across multiple asset classes including home improvement, solar, energy efficiency, and vacation ownership.
Based in Chandler, Arizona, Equiant is a loan servicer in the vacation ownership market with a $1.5 billion loan portfolio including more than 175,000 individual consumer loans. Equiant offers software solutions and servicing expertise for loan account receivables, billing, collateral document management, backup servicing, securitizations, debt recovery and disaster recovery.
“Balance Point is excited to continue its partnership with IGI and the Company.  Both Concord and Equiant are established industry leaders, and the combined platform will benefit from increased scale and operational synergy,” said Balance Point Partner Adam Sauerteig.
Jason Alexander, CEO of Concord, said “Balance Point’s understanding and support of our business have been essential as we have continued to pursue our growth objectives, and their creative capital structuring was instrumental to completing this transaction. We are very pleased to continue our partnership with Balance Point.”
About Balance Point
Balance Point is an alternative investment manager focused on the lower middle market. With approximately $2.1 billion in total capital commitments, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.

Categories: News


Nordic Capital-backed Max Matthiessen acquires two companies – and expands to Denmark

Nordic Capital

Max Matthiessen continues to future-proof its business as it expands its footprint outside of Sweden. With the acquisitions of the two Danish companies, PensionsSelskabet and StockRate Asset Management, Max Matthiessen will have a significant presence on the Danish market.

“We’ve ambitious growth targets and are in the process of taking Max Matthiessen to the next level. With us, the customer is always at the centre. The entry into the Danish market is very positive. For future growth, the ambition is to establish a presence in Denmark both organically and through acquisitions,” said Jacob Schlawitz, CEO at Max Matthiessen.

PensionsSelskabet pension & health care services has an attractive business model, based on solid partnerships, and has demonstrated a solid track-record of growth and expansion. Its business strategy focuses on ensuring high quality and putting customers’ best interest first.

PensionsSelskabet and its employees look forward to joining Max Matthiessen, as it expands its Life & Pension offering and footprint in Denmark. The acquisition will widen the selection of products and services accessible to customers in Denmark.

“It’s very promising that this is becoming a reality, and we’re all looking forward to joining. With Max Matthiessen’s strength and experience, we can improve and develop our services and range of innovative products in Denmark,” said Stig Wetterstrom, CEO at PensionsSelskabet.

Max Matthiessen also acquires StockRate Asset Management, a leading provider of personal wealth management services, and by that increases its market shares within the segment. With the ambition to expand further internationally, the StockRate acquisition is a perfect match. It brings a presence on the Danish market and is an excellent addition to Max Matthiessen’s product assortment. Furthermore, it will give StockRate employees the opportunity to benefit from Max Matthiessen’s established collaborations and access to Max Matthiessen Group’s business solutions.

The strengthened investment solutions will be beneficial for the customers. StockRate has a solid business model based on flourishing partnerships and a very strong Private Banking branch.

“StockRate is a customer-oriented organisation where the customers’ needs, wishes and satisfaction are at the centre of our decision-making, strategies, and activities. We always strive to create value to our customers through customised products, attentive customer service and continuous improvement in our performance. With Max Matthiessen, we’ll be stronger and able to offer additional investment solutions that earlier haven’t been available in Denmark,” said Kristian Kjer, Administrative Director at StockRate Asset Management.


Press contact:
Hanna Ericsson
Press Officer, Max Matthiessen
Tel: +46 73 463 66 31
e-mail: hanna.ericsson@maxm.se

About PensionsSelskabet pension & health care services
PensionsSelskabet mediates pension- and healthcare systems for companies, entrepreneurs, and individuals, as well as advises on everything from the composition of the company’s pension system to an individual employee’s own solution. The company has more than 25,000 customers, 35 passionate pension specialists and offices in Aalborg, Aarhus, Esbjerg, Herning, Sonderborg, Odense and Copenhagen. The company offers both traditional and innovative pension solutions for companies and their employees.

About StockRate Asset Management
StockRate aims to have a positive impact on the investment industry and to be a responsible and decent asset manager for its clients. It puts the customer at the centre and prioritises personal and independent advice based on its customers’ financial wishes and individual situation. StockRate has extensive expertise in the areas of global equities, bonds, rental housing and alternative and sustainable investing. The company manages more than DKK 8 bn for Danish private professional investors. StockRate strives to deliver value to clients through personal, transparent, and independent advice that makes a real difference.

About Max Matthiessen
Max Matthiessen, founded in 1889, is a leading Swedish advisor within pensions, insurance and investment, offering advice, analysis, administration and procurement of pension and insurance solutions to employers, entrepreneurs and individual customers. The Company also offers advice within savings, investment advisory and asset management. Max Matthiessen has 560 employees at 36 locations throughout Sweden. In 2022, revenues were EUR 190 m. For further information, please see https://www.maxm.se/

Categories: News


Eurazeo signs agreement with Blackstone to provide financing equity for Groupe Premium


Eurazeo, the management team led by Olivier Farouz and Montefiore Investment today announced that they have entered into a strategic financing agreement where funds managed by Blackstone (“Blackstone”) have agreed to provide Groupe Premium with €400m of financing equity. As part of the transaction, Blackstone will also acquire a limited minority stake in the business. Blackstone’s investment will provide Groupe Premium with further flexibility to grow the business. On the financing side, Barings renews its support to the Group with a new debt package of €300m.

The completion of the transaction would value the company at €1.15bn.
Eurazeo and its affiliates would realize a 3.3x cash-on-cash multiple at the completion date, including c.€185m of cash proceeds (of which c.€65m for Eurazeo balance sheet), the remainder of c.€135m being reinvested in the operation.

The transaction remains subject to the approval of the Group’s supervisory authorities.
Eurazeo would retain control of the company, reaffirming its trust in the Group for years to come.

Founded in 2000, Groupe Premium is a leading player in wealth management in France, through its three activities of brokerage in life insurance and retirement savings products through the Predictis and Cap Finances networks, asset management through its subsidiary Flornoy-Ferri and wealth management consulting. The Group manages €8.5bn assets and achieved in 2022 a turnover of €188m, growing of + 80% vs 2021 and aims for a level of activity of €263m in 2023.

In 2018, Montefiore invested in Groupe Premium and supported the acceleration of the company’s development before handing over control to Eurazeo in July 2021. Since Eurazeo’s entry into the capital, Eurazeo has supported the group by providing it with the human and financial resources necessary for its structuration and its development, in particular through the geographical expansion of its network of independent agents in France which counts 1100 partners, and by the creation of the Group’s wealth management consulting division, which today represents €3bn in assets under management and is the result of 8 acquisitions made over the past two years. Over these last five years, sales have been multiplied by ten.

Driven by the renewed confidence of its historical shareholders, the group intends to continue its strong organic growth by continuing to strengthen its product range and digitalization, while accelerating its active external growth policy, both France and internationally.

Categories: News


Portobello Capital’s portfolio company, Serveo, acquires Sacyr Facilities


The company, owned by the investment fund Portobello Capital, acquires Sacyr’s facility management activity through the purchase of Sacyr Facilities. ▪ The transaction is valued at €87 million. ▪ Serveo consolidates its presence in the facility management sector with an estimated consolidated turnover of around €1.5 billion. July 27th, 2023. Serveo, company owned by Portobello Capital investment fund, acquires Sacyr’s facility management business through the purchase of Sacyr Facilities for €87 million. This acquisition, with completion subject to approval from the National Markets and Competition Commission (CNMC), represents Serveo´s consolidation as one of the main operators in the facility management business. With this acquisition, the company is expected to reach a turnover of around €1.5 billion. Sacyr Facilities is Sacyr Group’s division focused on the facility services activity, integrating five major business lines: cleaning, maintenance, facility management, energy services and social services. With presence in Spain and Chile, they have an annual turnover of €380 million with a team of more than 16,000 professionals.

Following the authorization of the transaction by the CNMC, the integration of both teams and portfolio of contracts will be carried out progressively over the coming months, always under the parameters of operational excellence on which Serveo bases its management, and with the aim of minimizing any impact on customers and users.

With this acquisition, Serveo continues with its growth strategy in the facility management market and consolidates its position as one of the main operators in the sector with presence in Spain, Portugal and, with this transaction, in Chile. In this sense, the incorporation of Sacyr Facilities will increase Serveo’s capabilities to continue growing with value-added services, process engineering and operational excellence.

About Serveo
In October 2021, Portobello Capital and Ferrovial announced an agreement where the Spanish fund would acquire a 75.01% stake in Serveo, with Ferrovial retaining 24.99% of the capital, proving its confidence in the consistency of the business and management team. Serveo launched its new brand in March 2022, following the entry of Portobello Capital as a shareholder.
Serveo, with more than 30 years of experience, is a leader in transversal, efficient and sustainable services that drive the growth and development of its clients and society, especially in the health, industry, transport, energy and facility management sectors. With more than 27,000 employees, it has a stable presence throughout Spain, enabling it to manage high impact and complex projects.

About Portobello Founded in 2010, Portobello Capital is a leading independent mid-market private equity firm, based in Spain and investing in Southern Europe. It has more than 2,000 million euros of Assets Under Management, an experienced team of more than forty professionals and a current portfolio of 22 companies.
Communications Department
Cristina Cabrera Angulo
Tel. +34 91 338 83 00
E-mail: comunicacion@serveo.com

Categories: News


Thompson Street Capital Partners Portfolio Company PestCo Holdings Acquires 5 Star Pest Solutions


Thompson Street Capital Partners (“TSCP”), a private equity firm based in St. Louis, today announced the acquisition of the assets of 5 Star Pest Solutions LLC (“5 Star”) by PestCo Holdings, LLC (“PestCo”), a TSCP portfolio company. Located in Indianapolis, Indiana, 5 Star is a leading provider of commercial pest control services with a focus on multi-family communities in the greater Indianapolis area. With the backing of PestCo’s team and resources, 5 Star is positioned for future growth, while continuing to provide high-quality service to customers. Terms of the transaction were not disclosed.

This is the eleventh investment for PestCo, an acquisition company formed to consolidate the highly fragmented pest control industry.

“5 Star is an established, quality-focused company and we believe a solid way for us to enter the Indianapolis market,” said Jay Keating, CEO of PestCo. “We are excited to enhance growth opportunities for the business while creating opportunities for the 5 Star team.”

“Thompson Street is excited to continue to expand PestCo’s growing presence by entering the Indianapolis pest control services market. We look forward to partnering with the 5 Star team to help the company achieve its next phase of growth,” said Jeff Aiello, Managing Director, TSCP.

Categories: News


HarbourVest and AP7 Partner to Launch New Private Equity Open-Ended Solution


London, UK – HarbourVest Partners, a global private markets investment specialist, today announced its partnership with AP7, a Swedish government pension fund, as a founder investor in a new private equity strategy. The $835 million USD anchor investment was made in January 2023 in a new open-ended evergreen private equity solution designed for non-US institutional and High Net Worth (HNW) investors.

HarbourVest has offered a range of solutions which clients can select depending on their specific investment needs since it was founded in 1982. The open-ended nature of this new secondaries and direct co-investment solution further complements this range by including a liquidity-generating mechanism.

The partnership with AP7 is focused on delivering a solution for both institutional and private clients and continues HarbourVest’s commitment to the private client segment. This began in 2007 with the now  London-listed HVPE offering daily liquidity to non-U.S. investors, it continued in 2014 with the launch of a global annual programme offering clients a core diversified solution, and it progressed further in 2016 with the creation of one of the first dedicated private client groups.

HarbourVest’s 40-year private market tenure, scale, and ability to deploy more than $10 billion per annum in direct co-investments and secondaries enables the firm to access a large volume of what HarbourVest believes are quality deals from leading managers across open-architecture solutions.

“Private equity has historically outperformed public markets and offers the opportunity to deliver attractive returns at a time when private and institutional investors are looking for diversity and, if their investment parameters change, liquidity,” said Simon Jennings, Managing Director and head of HarbourVest’s private client group in EMEA and APAC. “This new solution provides this flexibility and access to investment solutions previously only available to very large institutional investors.”

Simon has over 20 years of experience operating at the cross-section of private markets and clients, both in EMEA and APAC.

“During our 20-year partnership with HarbourVest, we have built a relationship based on collaboration, insights, and opportunity,” added Per Olofsson, acting CIO at AP7. “This new open-ended solution presents a compelling opportunity to address AP7’s strategic objectives and continue to shape our private equity exposure achieving both short, and long-term goals.”

Olofsson continues, “While this solution started as a private client initiative, we have seen its effectiveness in helping to augment existing alternative allocations for institutional investors.” 1


HarbourVest is an independent, global private markets firm with 40 years of experience and more than $106 billion of assets under management as of December 31, 2022. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,000 employees, including more than 215 investment professionals across Asia, Europe, and the Americas.  Across our private markets platform, our team has committed more than $55 billion to newly-formed funds, completed over $46 billion in secondary purchases, and invested over $33 billion in directly operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

HarbourVest Partners, LLC is a registered investment adviser under the Investment Advisers Act of 1940. This material is solely for informational purposes and should not be viewed as a current or past recommendation or an offer to sell or the solicitation to buy securities or adopt any investment strategy.  The opinions expressed herein represent the current, good faith views of the author(s) at the time of publication, are not definitive investment advice, and should not be relied upon as such. This material has been developed internally and/or obtained from sources believed to be reliable; however, HarbourVest does not guarantee the accuracy, adequacy or completeness of such information. There is no assurance that any events or projections will occur, and outcomes may be significantly different than the opinions shown here.  This information, including any projections concerning financial market performance, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of HarbourVest.

 Nothing herein should be construed as a solicitation, offer, recommendation, representation of suitability, legal advice, tax advice, or endorsement of any security or investment and should not be relied upon by you in evaluating the merits of investing in HarbourVest funds or in any other investment decision. 


Lily Cabianca
+44 207 151 4261


AP7 (Sjunde AP-Fonden) is the default alternative within the Swedish Premium Pension system with 5.5 million savers and SEK 1000 billion AUM in global equities, fixed income and alternative investments. With a diversified equity portfolio of more than 3,000 companies, AP7 has an ESG-strategy that focuses on active universal ownership and systemic risks. Read more at www.ap7.se.

  1. AP7 is a client of HarbourVest and has invested in a number of HarbourVest products.

Categories: News


FIELDS Group sells shares in Upforce

Fields Group

On the 22nd of June 2023 investment firm Value Enhancement Partners has taken a majority stake in Upforce. Upforce is a Dutch temp agency focused on international flex workers. Along with management, Value Enhancement Partners has taken over the shares from Dutch investor FIELDS Group.

Temp agency Upforce supplies international workers with a focus on food production, logistical and technical jobs. The company has offices in the Netherlands in Venlo (Headquarters), Eindhoven and Oudewater; in addition, the company also has a captive recruiting location in Poland. The temp agency, known as Upforce since the beginning of 2023, was created from the merger of five local companies in the central/south of the Netherlands (including SEP Peeters, Uitzendbureau Verbeek & Direct People). Value Enhancement Partners, together with management, takes over the shares of investor FIELDS Group, who has been actively involved in the company since 2018. Founders Gregor Popanda and Theo Peeters will remain involved in Upforce as co-shareholders.

Ellen Niessen (CEO): “In the past 2 years, we have professionalized the organization considerably after a period of rapid growth. We have now established a solid foundation on which we can build in the coming years. In Value Enhancement Partners we have found an enterprising partner who wants to support us in our further growth plans.”

Bjørn van Knippenberg (Partner at Value Enhancement Partners) adds: “We see that there is a strong demand for motivated international flex workers in many industries in the Netherlands and that Upforce is very successful in meeting this client demand. Additionally, Upforce is well positioned to comply to the expectedly increasing regulatory pressure coming to the market. We are very excited to work with the Upforce team in the coming years and will support them in their growth strategy that will (amongst others) include doing further add-on acquisitions.”

Joris van Gils and Rutger Alberink (Partners at FIELDS Group): “We have enjoyed working with Ellen and her team, as well as with Theo Peeters and Gregor Popanda. In recent years, Upforce has achieved enormous growth towards eventually approximately 1,500 active flex workers; the company can now rightfully call itself one of the leading players in the market for international workforce staffing. We wish Upforce, the team and Value Enhancement Partners the best of luck as they continue to expand the business.”

About Value Enhancement Partners:
Value Enhancement Partners is a hands-on investor who has been investing and collaborating with boards of directors and entrepreneurs since 1999 to realize the full potential of their company.
Contact Value Enhancement Partners:
Bjørn van Knippenberg, Partner: bjorn.vanknippenberg@vepartners.com, +31 621 55 85 26

About FIELDS Group:
FIELDS Group is an entrepreneurial hands-on investor focused on developing companies with potential. FIELDS Group invests in companies headquartered in the Benelux and the DACH region and focusses on realizing “true transformations” with its team.
Contact FIELDS Group:
Joris van Gils, Partner: j.vangils@fields.nl, +31 641 31 33 39
Rutger Alberink, Partner: r.alberink@fields.nl, +31 611 49 09 14

About Upforce:
Upforce is a temporary employment agency of international workers in the Netherlands with offices in Venlo (head office), Eindhoven and Oudewater. Website: https://upforce.com/
Contact Upforce:
Ellen Niessen, CEO: ellen.niessen@upforce.com +31 6 51 42 65 22

Categories: News