Client: Argos Wityu
Sale of Cohedron (Argos Wityu) to House of HR (Naxicap)
Quore Capital acted as exclusive corporate finance advisor to Cohedron, backed by Argos Wityu.
House of HR, the European group of HR service companies, acquires the Dutch holding Cohedron, a leading group of full-service companies in the public sector. The takeover strengthens House of HR’s position on the Dutch market and in the public service sector.
Dutch Cohedron is a service provider with a particular focus on the public sector. The group consists of several specialities and works under different brand names: Wyzer, Future Communication, Human Capital Group, Argonaut, Zorg-Lokaal, Plangroep and Plangroep Financiële Services. With more than 2.000 professionals and over 30 years of experience, Cohedron supports and advises public authorities, non-profit organizations and companies. It offers outsourcing of processes and secondment of qualified specialists (both in the public sector), as well as consultancy to organizations and public authorities. In 2020, Cohedron realized a turnover over about 132 million euros, with an EBITDA of about 19 million euros.
Since 2017, Cohedron is growing rapidly. This today has led to the acquisition by House of HR. House of HR is taking over all shares from the former majority shareholder Argos Wityu. Cohedron’s management sells its minority stake to House of HR, but remains active within Cohedron, whilst reinvesting in House of HR. By doing so, it reconfirms its engagement both towards Cohedron and towards House of HR. The acquisition is still subject to approval by the Dutch competition authority ACM.
Jeroen Ekkel, CEO of Cohedron, is happy with the entrance in House of HR: ‘Belonging to the ultimate Talent Powerhouse, sharing the same vision, expertise and entrepreneurial culture is a real ‘match made in heaven’. Becoming part of House of HR will enable us to further grow both nationally and internationally and to realize our ambitions. We are focusing on technical innovation, autonomous growth and high quality services. Together, we are stronger and we can have a bigger impact on both the life of people and on society as a whole. This is what drives us, day after day.’ Cohedron will continue investing in expertise and technology, such as own IT-platforms, but also by leveraging on the know-how from within House of HR.
Rika Coppens CEO of House of HR, welcomes the more than 2.000 new Happy Rebels to House of HR: ‘We are excited to welcome the people from Cohedron to our family of Happy Rebels. Thanks to the unique expertise and offerings from Cohedron, we can now enter the domain of the public sector, something that was on our wish list for quite a while. Further growing on the Dutch market, as well as searching for new opportunities in the other countries we are active in, certainly will be possible in the near future. A bright future awaits us!’
The acquisition of Cohedron is House of HR’s fourth takeover in 2021, and the second one in the Netherlands. Cohedron is to become one of the Engineering&Consulting Powerhouses, next to among others Accent in Belgium, Abylsen in France, and Covebo, Continu Professionals and Redmore in the Netherlands. Earlier this year, the German Zaquensis and TIMEPARTNER merged. In the Netherlands, House of HR was ranked by Flexmarkt as the fifth largest player in the HR-field, as well as the strongest grower in 2020. Thanks to its organic growth, the post-Covid recovery and its acquisitions earlier this year, House of HR will realize a turnover in 2021 of more than 2 billion euros.
About House of HR
House of HR is a leading services group active in the world of HR. Headquartered in Roeselare, the group consists of nine companies that together represent 41 brands, all focusing on ‘Specialised Talent Solutions’ and ‘Engineering&Consulting’. ‘Specialised Talent Solutions’ provides temporary workers with an emphasis on ‘temp to perm’, international recruitment and permanent placements for clients in need of people with specific profiles. Companies involved in ‘Engineering&Consulting’ recruit medium to highly skilled candidates such as engineers, technicians and other business consultants to work on projects at clients in a wide range of market segments.
In 2020, House of HR realised a turnover of €1.6 billion and EBITDA of €179 million. The group provides work to over 43,000 people and has 3,400 employees spread over more than 600 offices in Europe. These offices serve small, medium-sized and large clients. House of HR is a talent powerhouse with a strong emphasis on entrepreneurship, digitisation and innovation, but always with a distinctive human touch. For more info, visit www.houseofhr.com.
Cohedron is a single group of strong companies, each with their own expertise. Together, we are Wyzer, Future Communication, Human Capital Group, Argonaut, Zorg-Lokaal, Plangroep and Plangroep Financial Services, all working under the ambitious auspices of Cohedron, a holding company that connects, renews and supports. Full of business initiative and the power to influence. Together, we are Cohedron. What binds us together? The drive to make a meaningful impact – on the lives and success of people, organizations, companies and society. That’s what we stand for and aim for.
With over 2,000 professionals and more than 30 years of experience, we support and advise government authorities, non-profits and the business world. We are a full-service provider for municipalities, in areas including debt relief and spatial and social fields. And for organizations, as a partner in HR, communication, administration and finance. For more info, visit www.cohedron.nl.
Announcement date: June 21st, 2021
Client: Argos Wityu
Buyer: House of HR (Naxicap)
Seller: Argos Wityu