Services
Mergers & Acquisitions
Our M&A advisory services include (but are not limited to):
- Preparing a business for an acquisition or divestment
- Comprehensive management of all aspects of the deal process
- Post-deal financial planning and financial integration
M&A Buy-side – Track Record:
Acquisition of Dept by The Carlyle Group
Client: The Carlyle Group
Acquisition of Highcare by Bencis
Client: Bencis Capital Partners
Commercial co-operation between Jumbo and Hema
Client: Jumbo Supermarkten B.V.
Acquisition of Agrimarkt by Jumbo
Client: Jumbo
Acquisition of Bier&cO by Swinkels Family Brewers
Client: Swinkels Family Brewers
Ever since its foundation 30 years ago, Bier&cO has been challenging consumers in the discovery of new flavours. Today, the company is one of the largest distributors of specialty beers in Europe, featuring over 40 different high-end national and international brands. By acquiring the company, Swinkels Family Brewers is able to strengthen its portfolio and give further substance to its growth strategy. 
Acquisition of Smulweb by Jumbo
Client: Jumbo
Jumbo has reached an agreement with the owner of the Nr.1 Dutch food and recipe platform 
Acquisition of Robidus by Aegon
Client: Aegon
Aegon acquires Robidus, a leading income protection service provider in the Netherlands, from Avedon Capital Partners. The transaction is consistent with Aegon’s strategic objective to expand its position in the income protection value chain and grow its fee based businesses.
Intergamma, the Dutch DIY franchise organisation, acquired the DIY business in the Netherlands and Belgium of CRH plc, the global building materials group, together with certain related property assets for a total consideration of €510 million.
Acquisition of EMTÉ by Jumbo and Coop
Client: Jumbo
Jumbo, in a consortium together with Coop, has reached an agreement with Sligro Food Group to acquire 100% of the shares of the food retail business EMTÉ.
Acquisition of STN by DentConnect, backed by Bencis
Client: Bencis Capital Partners
DentConnect acquired 100% of Samenwerkende Tandartsen Nederland (“STN”) from NPM Capital. Through this transaction, DentConnect – backed by Bencis Capital Partners – strongly consolidates its market leadership in the Netherlands. Potential synergies with STN are significant and a successful integration will be illustrative for further value creation possibilities abroad. Quore Capital acted as financial advisor of Bencis Capital Partners.
Acquisition of majority stake in Jan Snel by Parcom
Client: Parcom Capital
With revenues in excess of EUR 100m and more than 250 employees, Jan Snel is market leader in modular building concepts in the Benelux. Parcom Capital acquired a majority share in the Jan Snel Group in a one-on-one transaction to support the previously fully family-owned company in its quest for growth and innovation. Quore Capital acted as sole financial advisor of Parcom Capital.
Bavaria and Palm Belgian Craft Brewers (PBCB) joined forces sharing their passion for brewing beer. Bavaria acquired 60% of the shares of PBCB in 2016 and the remainder of the shares will be acquired ultimately by 2021. The product portfolio of PBCB complements the existing beer portfolio of Bavaria while Bavaria supports PBCB with its global sales team and brewing know-how. Quore Capital acted as sole financial advisor of Bavaria.
Acquisition of La Place by Jumbo
Client: Jumbo
With its healthy and local sourcing image, LaPlace was for many years an attractive take-over candidate for Jumbo and was taken over after V&D’s bankruptcy in a swift process. Currently LaPlace is expanding rapily stand-alone and Jumbo and LaPlace also recently announced their first joint concept: Jumbo City in Groningen. Quore Capital acted as sole financial advisor of Jumbo.
Acquisition of Dümmen Orange by BC Partners
Client: BC Partners
BC Partners has acquired a majority stake in Dümmen Orange, a Netherlands-based company engaged in vegetative breeding in horticulture business, from H2 Equity Partners and the Dümmen family. Quore Capital acted as lead financial advisor of BC Partners.
Acquisition of Boemer Rental Services Group by Nimbus
Client: Nimbus
After a failed auction, Nimbus acquired the majority of Boemer Rental Services Group from Egeria. Since then, Nimbus has succesfully restructured the company implementing operational improvements. Quore Capital acted as financial advisor of Nimbus.
Acquisition of 60% stake in Stage Entertainment by CVC
Client: CVC Capital Partners
CVC Capital Partners acquired a 60% stake in Stage Entertainment, an international musical and theatre group from the Company’s founder, Joop van den Ende, who will remain a 40% shareholder in the business. Quore Capital acted as sole financial advisor of CVC Capital.
Acquisition of Sonnen Bassemann from Heinz by Struik Foods Europe
Client: Struik Foods
Struik Foods Group acquired Sonnen Bassermann, the second-largest brand in the German market for soups and ready meals, from HJ Heinz. Through the acquisition, Struik Foods could get a better foothold in the German retail market. Quore Capital acted as sole financial advisory to Struik Foods Group.
Directly after the Super de Boer transaction in 2009, Jumbo and C1000 started a joint purchasing organisation. When only a few years later, C1000 owner CVC Capital Partners considered a sale of the Company, this was a one-time opportunity for Jumbo. The acquisition of C1000 was important for Jumbo from both offensive and defensive (purchasing power) perspective. As C1000 was approx twice Jumbo’s size, Jumbo teamed up with Ahold and Coop Supermarkten. Quore Capital acted as lead financial advisor of Jumbo.
Acquisition of Super De Boer by Jumbo
Client: Jumbo
After smaller acquisitions of Konmar and Super de Boer Stores, Jumbo’s first major acquisition was Super de Boer (#3 food retailer in the Netherlands). Transaction was structured as asset deal (Super de Boer was listed). Jumbo had a back to back agreement with C1000 (# 2 food retailer in The Netherlands). A joint purchasing organisation (Bijeen) between C1000 and Jumbo was established as part of the back-to-back agreement. Quore Capital acted as sole financial advisor of Jumbo during the process.
Smeva acquired 100% of Geerlofs in order to strenghen its position in large turnkey cooling spaces (mainly directed towards flower and food industries). Geerlofs gave Smeva access to an international client base and new technologies. Quore Capital acted as sole financial advisory to Smeva during the process.M&A Sell-side – Track Record:
Sale of Ladybird to Pronovias, backed by BC Partners
Client: Ladybird
Pronovias Group, backed by BC Partners, has acquired Ladybird, a leading bridalwear company in Northern Europe, from its founding family. Ladybird designs and manufactures bridal and evening gowns which are distributed through a network of around 500 independent retailers across Europe, more specifically in the Benelux, DACH, UK, Scandinavia and Eastern European regions. The Company operates a diversified portfolio of products (ranging from Ladybird Couture to Plus Size), widely praised for its good understanding of its target customers, fitting expertise, and flawless quality and service.
Sale of Vivo Wonen to Heimstaden
Client: Vivo Wonen
Heimstaden has acquired the Dutch management company Vivo Wonen from Round Hill Capital and Stadium Capital Partners following the acquisition of the 3rd largest residential portfolio within the Netherlands in April 2019. The acquisition provides Heimstaden with an Amsterdam-based management platform specialized in managing the exact same portfolio, offering fully integrated management services including in-house sales, asset, technical, leasing and HOA management and the financial management (SPV Accounting) across the Netherlands. 
Sale of myBrand to Conclusion, backed by NPM Capital
Client: De Hoge Dennen Capital
Conclusion, backed by Dutch private equity house NPM Capital, acquires myBrand, a highly valued SAP service provider in the Netherlands, from De Hoge Dennen Capital. For Conclusion, the acquisition perfectly fits its ambition to further develop its ‘eco-system’ of IT services offering to its clients. For myBrand, being part of this larger group brings it closer to its goal of becoming the leading SAP services provider in the Netherlands by 2021. 
A. Hak, the Netherlands-based company engaged in the design, construction and maintenance of infrastructures for transport and distribution of oil, gas, water and electricity, has sold the Conline facility in Moerdijk, to the Netherlands-based real estate developer David Hart Group, for an undisclosed consideration. The divestment is in line with A. Hak’s strategy to focus on its main activities, such as design, construction and maintenance for the transportation and distribution of oil, gas, water, heat and electricity.
Merger between Foppen Groep and Klaas Puul Beheer
Client: Foppen Holding
Foppen Holding has reached an agreement with Klaas Puul Beheer for the merger between Foppen Groep and Klaas Puul.
Ocom has closed a transaction with Iron Mountain (listed on NYSE) regarding the sale of its Dutch EvoSwitch data center business for USD 235 million (EUR 205 million).
Sale of A. Hak Industrial Services to First Reserve
Client: A. Hak
A. Hak, the Netherlands-based company engaged in the design, construction and maintenance of infrastructures for transport and distribution of oil, gas, water and electricity, has sold A. Hak Industrial Services, a leading inspection and industrial service provider to the oil, gas refining and petrochemical industries around the world, to First Reserve, a US-based leading global private equity investment firm exclusively focused on energy, for an undisclosed consideration.
A. Hak, the Netherlands-based company engaged in the design, construction and maintenance of infrastructures for transport and distribution of oil, gas, water and electricity, has sold Kaal Masten, the Netherlands-based company that designs, produces and installs masts, to VDL Groep, the Netherlands-based company engaged in the development, manufacture and sales of semi-finished products, buses and coaches and other finished products, for an undisclosed consideration.
Sale of Venko Groep to Brand Industrial Services
Client: Mentha Capital
Venko is a leading provider of fabric maintenance services in the energy sector (both on- and offshore) in the Benelux and a portfolio company of Mentha Capital. Mentha Capital has been looking to sell Venko since 2015. After a mini auction with three strategic parties never really took off, we negotiated a one-on-one deal with Brand Industrial Services, a US based strategic player in 2017. Quore Capital acted as sole financial advisor to Mentha Capital and management of Venko.
Sale of Brainwash Kappers to Provalliance
Clients: 3RS Group, Livermore TC
Brainwash Kappers is the largest Dutch hairdresser’s chain in the value segment with over 200 salons opened in the last 10 years. Brainwash was acquired by the European market leader and consolidator in the hairdresser’s industry: French haircut chain Provalliance Group. Quore Capital acted as sole financial advisor to the Company and its shareholders Robert van der Wallen and Ivo Priem.
Sale of TENTOO to Pay for People Group, backed by Waterland
Client: De Hoge Dennen Capital
TENTOO was the first company in the Netherlands to introduce payrolling in 1992. Today, TENTOO is one of the Dutch market leaders in providing payrolling services, mainly to freelancers, self-employed people and SMEs. TENTOO was sold by its shareholders (majority owned by De Hoge Dennen Capital) to industry counterpart Pay for People Group (backed by Waterland Private Equity). Quore Capital acted as sole financial advisor to the shareholders and the management of TENTOO.
After the succesfull integration of Super de Boer and C1000, Jumbo decided to outsource non-core activities to strong and reliable partners. The payroll administration and HR support activities were considered non-core. After a competitive process, these activities were sold to Raet N.V. Quore Capital acted as sole financial advisor of Jumbo.
After the succesfull integration of Super de Boer and C1000, Jumbo decided to outsource non-core activities to strong and reliable partners. The central meat processing activities were considered non-core. After a competitive process, the central meat processing activities were sold to Meat Friends. Quore Capital acted as sole financial advisor of Jumbo.
Capital injection by Van Drie family in Struik Foods Europe
Client: Struik Foods
The Van Drie family, the family behind Van Drie Group, Europe’s largest butcher and processor of veal, invested an undisclosed amount in Struik Foods Europe. Struik is a Dutch company which produces heat processed products in cans, glass and semi-rigid containers, dried soups, sauces and gravies. Quore Capital acted as financial advisor to the shareholder of Struik Foods Europe.
Sale of Prinsen Food Group to Bencis
Client: Prinsen Food Group
Prinsen Food Group, producer of high quality instant food products, was sold to Bencis Capital Partners. Prinsen formed the platform for a buy and build strategy. Since the acquisition, Bencis acquired Buisman (2016) and Gustav Berning (2017). Quore Capital acted as sole financial advisor of the Prinsen family, supervisory board and management of the Company.
Sale of Ecodet activities to BDO Nederland
Client: Jumbo
After the succesfull integration of Super de Boer and C1000, Jumbo decided to outsource non-core activities to strong and reliable partners. Jumbo’s financial administration office for franchisers was considered non-core and after a competitive process, Ecodet was sold to BDO Nederland. Quore Capital acted as sole financial advisor of Jumbo.
Sale of B.sis to Simac Techniek
Client: Jumbo
After the succesfull integration of Super de Boer and C1000, Jumbo decided to outsource non-core activities to strong and reliable partners. B.sis, provider of in-store IT services, was considered non-core. After a competitive process, B.sis was sold to Simac Techniek. Quore Capital acted as sole financial advisor of Jumbo.
Sale of PV Industries to Devro plc
Client: PV Industries
PV Industries, a collagen gel producer, used at the production of sausages, was sold to Devro Plc, a UK listed supplier of meat casings. Quore Capital acted as sole financial advisor to the shareholders of PV Industries.
Sale of Robidus to Avedon
Client: De Hoge Dennen Capital
Robidus Group is the market leader in the Netherlands in providing an integrated social security approach aimed at minimising costs of employee drop-outs to large companies in the Netherlands. Avedon Capital Partners along with management of Robidus Group acquired Robidus in a management buyout transaction, from De Hoge Dennen Capital and the founding shareholders of Robidus. Quore Capital acted as sole financial advisor of the shareholders of Robidus.
Sale of 50% stake in Rhytank to Argos Energies
Client: Fluvia
Fluvia, active in inland barging of liquids, the storage of edible and mineral oils and tank container leasing, has sold its 50% stake in Rhytank AG, a storage terminal for minaral oils in Basle, Switzerland, to its JV partner Argos, now active under the name Varo Energy. Quore Capital acted as sole financial advisor of the management and shareholders of Fluvia.
Fluvia, active in inland barging of liquids, the storage of edible and mineral oils and tank container leasing, has sold its 55% stake in Maastank, a storage terminal for edible oils in the Rotterdam harbour to its JV partner Dekker Transport, who already owned 45% in Maastank. Quore Capital acted as sole financial advisor of the management and shareholders of Fluvia during the process.
Waterland acquired a majority stake in TamTam, one of the largest digital marketing agencies in the Netherlands. Quore Capital acted as sole financial advisor to the shareholders of Tam Tam.
Jumbo sold five Jumbo stores to Poiesz Supermarkten in an asset deal. Quore Capital acted as sole financial advisor to Jumbo.
Sale of Fluvia Vegoil activities to Interstream Barging
Client: Fluvia
Fluvia, active in inland barging of liquids, the storage of edible and mineral oils and tank container leasing, sold its edible oil inland barging activities to Interstream Barging, one of the largest inland barging companies in North West Europe in a complex transaction, involving the transfer of German assets & liabilities, a Swiss legal entity and Swiss assets and liabilities, and a Dutch legal entity and Dutch assets and liabilities. Quore Capital acted as sole financial advisor to the management and shareholders of Fluvia.
Sale of KDE Energy to Yard Energy Group
Client: KDE Energy
Sale of wind project developer KDE Energy (excluding UK unit Infinergy) from AFR Investments to Yard Energy. Quore Capital acted as sole financial advisor of the shareholders of KDE Energy.
Sale of minority stake to Karmijn Kapitaal
Client: YouMedical
YouMedical Group is active in the distribution of OTC healthcare products and founder Jan Herweijer sold a minority stake in the Company Group to Karmijn Kapitaal, a private equity firm managed by women. Quore Capital acted as sole financial advisor to the shareholders of YouMedical Group.
Jumbo sold 54 stores and a distribution centre to Coop Supermarkten. Background to the sale was to (a) refinance the C1000 acquisition, (b) dispose of C1000 stores marked by the NMA and (c) dispose the distribution centre which was less suitable for Jumbo. Quore Capital acted as lead financial advisor to Jumbo.
Sale of 82 stores to Ahold to (a) refinance the C1000 acquisition and (b) dispose of NMA marked stores. The food retail market did not expect the co-operation in the acquisition of C1000 between rivals Ahold and Jumbo. Quore Capital acted as lead financial advisor of Jumbo.
Sale of majority stake in RBS Uzbekistan to Korean Development Bank
Client: Royal Bank of Scotland
Royal Bank of Scotland (RBS) sold a 82.5% stake in RBS Uzbekistan MB to the Korean Development Bank. Quore Capital acted as financial advisory to RBS.
Sale of remaining stake in Mammoet by Van Seumeren family to SHV
Client: Van Seumeren family
Acquisition by SHV Holdings of the remaining 25% stake still held by the Van Seumeren family in Mammoet Holding. All Van Seumeren family members previously at the helm of the Company have left the management team to explore new ventures. Quore Capital acted as sole financial advisor of the Van Seumeren family.
Sale of 50% stake in KR Wind by Mammoet through ‘Mexican shoot out’
Client: Mammoet Holding
Acquisition of the remaining 50% stake in KR Wind, a company with activities in logistics, lifting and installation of wind turbines on shore, by Mammoet Europe from its JV partner Enggaard Group. A “Mexican shoot out” procedure was used in this process. Quore Capital acted as sole financial advisor to Mammoet Europe during the process.
Sale of Kobalt to DHG Investments
Client: Kobalt
Kobalt Holding B.V. was a large independent media agency, which was sold to DHG Holding, owned by Marco Geeratz. Quore Capital acted as the sole financial advisor to the shareholders of Kobalt during the process.
Sale of Triade to Tech Data Corp.
Clients: ABN AMRO Participaties, Friesland Bank Investments
Triade, a service-oriented wholesale company in consumer electronica active in Europe, was sold to NASDAQ listed Tech Data. Triade was previously owned by Dutch mid-market private equity parties ABN AMRO Participaties and Friesland Bank Investments. Triade offered attractive margins and complemented the Tech Data product portfolio in all segments. Quore Capital acted as sole financial advisor of the shareholders and management of Triade.
Sale of See Tickets UK to CTS Eventim
Clients: Parcom Capital, Stage Entertainment
See Tickets, active in the sales and marketing of live entertainment ticketing, was sold to CTS Eventim, a global ticketing company, listed in Germany. See Tickets was owned by Stage Entertainment, one of the leading musical producers in the world and Parcom Capital, a Dutch mid-market private equity firm. Quore Capital acted as sole financial advisor of the shareholders and management of See Tickets.
Sale of 43 stores to 6 Dutch food retailers
Client: Jumbo
After smaller acquisitions of Konmar and Super de Boer Stores, Jumbo’s first major acquisition was Super de Boer (#3 food retailer in the Netherlands). Transaction was structured as asset deal (Super de Boer was listed). Jumbo had a back to back agreement with C1000 (# 2 food retailer in The Netherlands). A joint purchasing organisation (Bijeen) between C1000 and Jumbo was established as part of the back-to-back agreement. Quore Capital acted as sole financial advisor of Jumbo during the process.
Sale of minority stake in FD Media Group to HAL Investments
Client: Willem Sijthoff
Sale of 49% interest of SWF Holding (entrepreneur Willem Sijthoff) in FD Mediagroep to Hal Investments. Quore Capital acted as sole financial advisor of Willem Sijthoff during the process.
Please feel free to contact us.
Email us with any questions or inquiries or call +31 (0)20 845 1231. We would be happy to answer your questions and set up a meeting with you.