IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to invest in Sansidor (“the Group”), a fast-growing testing, inspection and related services (“TIS”) provider. IK is investing in the Group alongside existing shareholders HC Partners, founders of the respective group companies and the management team. Financial terms of the transaction are not disclosed.

Sansidor was created in 2018 through the acquisition of several inspection companies by HC Partners. Since then, the Group has grown considerably and today, comprises 18 companies in the Netherlands. With a broad suite of products and services already on offer, Sansidor aims to provide a one-stop shop for small, medium-sized and larger enterprises across the entire built environment industry. To support the achievement of this, it pursues an active buy-and-build strategy which targets high-performing specialist companies with entrepreneurial mindsets that complement its existing offering.

Collectively, the Group has nearly 400 employees who serve over 9,000 clients across a diverse range of sectors. Operating across four key segments: Water Safety; Fire Protection; Electricity; and Building Integrity and two great niches of Infection Prevention and air measurements the Group benefits from a high level of sales recurrence due to insurance, regulatory and legal requirements, with significant customer lock-in and stickiness.

In partnership with IK and the continued support of HC Partners, Sansidor will further develop its in-house M&A capabilities to accelerate the pace of its buy-and-build strategy and drive consolidation in the market. In addition, the Group plans to increase cross-selling and pursue international expansion with an initial focus on Germany. The vision of central embedding, focus on internal corporation between entities as well as local entrepreneurship and culture remains key.

Udo Waltman, CEO of Sansidor, said: “I am extremely proud of the progress we have made over the last few years, particularly with our ‘Buy and Build together’ strategy. Our strong growth ambitions have seen us make several acquisitions of entrepreneurial TIS companies with well-established track records. This has enabled us to continuously evolve our offering and provide customers with access to a dynamic network of professionals from different disciplines. We would like to thank HC Partners for all their support thus far and we look forward to welcoming the team at IK on board for this next phase of our journey. We are extremely grateful to our strong and loyal customer base and every one of our colleagues who contribute to our shared success and help us advance towards our ambitious goals.”

Sander van Vreumingen, Partner at IK and Advisor to the IK SC III Fund, said: “This is another great investment for the IK Small Cap strategy in the Benelux region, with a fast-growing business that has significant potential to develop further. We have been impressed with Sansidor’s journey to date and are convinced of the critical and resilient nature of the services provided through its dedicated group of companies. We look forward to utilising our experience to support Udo, Dave and Frido and their teams in the next phase of the Group’s growth, working collaboratively with HC Partners also.”

Erik de Boer, Partner at HC Partners, said: “We are very proud of Sansidor’s journey over the past six years and are keen to continue our involvement with Sansidor via our second fund. With 18 acquisitions since the start in 2018, Sansidor is a great example of what we like to do: enter into partnerships with entrepreneurs and ambitious management teams and focus on accelerated growth via buy-and-build acquisitions. We are looking forward to entering into this new phase and continuing to support Sansidor’s growth, together with the IK team.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 7787 558 193
vidya.verlkumar@ikpartners.com

IK Partners (“IK”) is pleased to announce that the IK Partnership III (“IK PF III”) Fund has reached an agreement to acquire a minority stake in OCTIME Group (“OCTIME” or “the Group”), a leading French software developer of workforce management solutions. IK will acquire its stake from existing shareholders, including Group President Guillaume Berbinau, Andera Partners (“Andera”) and the management team, who will all be reinvesting. Guillaume Berbinau, President of OCTIME Group since 2008, remains the majority shareholder. He relies on Nicolas Michel-Vernet, Managing Director of the Group and his management team who see their position strengthened. Financial terms of the transaction are not disclosed.

Founded in 1999 and headquartered in Biron, France, OCTIME Group is a software company which provides a comprehensive range of solutions for time management and human resource planning. The Group supports over 7,000 small to medium-sized enterprises across a diverse range of sectors and countries in the digitalisation of their human resource processes.

OCTIME’s products enable organisations to track and manage workforce performance, including time, attendance, scheduling and task management. With an international presence and approximately 300 employees, the Group has a strong position in France and operates through subsidiaries in Spain, Portugal and Latin America. Since inception, the Company has demonstrated sustained organic growth and resilience, driven by the consistent acquisition of new clients and very low churn.

Alongside Andera and Guillaume, IK will work with OCTIME’s Managing Director Nicolas Michel-Vernet and his management team to continue building its leadership position in the time management space through the acquisition of new clients within relevant sub-sectors. The Group also plans to strengthen its international presence through the pursuit of an active buy-and-build strategy focused on European neighbouring countries.

Guillaume Berbinau, President of OCTIME Group, commented: “I am very proud of the trajectory of the OCTIME Group, which has managed to retain its DNA, expertise and commitment, while achieving exemplary growth. We owe this success to the strength of our team. I am convinced that the team at IK will be committed partners in supporting and accelerating our future growth plans.”

Magdalena Svensson, Partner at IK and Advisor to the IK PF III Fund, said: “Under the leadership of Guillaume, Nicolas and their team, OCTIME has established itself as a leading French software as a service developer in the time management and planning space. We look forward to working with Guillaume, the management team and Andera Partners in the next phase of the Group’s growth.”

David Robin, Partner at Andera, added: “The development driven by the management team in recent years has enabled the OCTIME Group to become a benchmark player in its market, offering best-in-class solutions to a loyal and diversified customer base. We are delighted and proud of the progress we have made alongside Guillaume, Nicolas and the entire management team.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 7787 558 193
vidya.verlkumar@ikpartners.com

Andera Partners
Nicolas Delsert
Phone: + 33 6 22 67 71 17
n.delsert@anderapartners.com

IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to invest in Defibrion B.V. (“Defibrion” or “the Company”), a leading Dutch distributor of automated external defibrillators (“AEDs”) and related products. IK is investing from its dedicated pool of Development Capital and acquiring its stake from existing shareholders, including Holland Capital, Co-Founder and current CEO Joshua Valkenier and the management team. Both Joshua and the management team will be reinvesting in the Company alongside IK. Financial terms of the transaction are not disclosed.

Based in Groningen, Netherlands, Defibrion was founded in 2008. As an expert in the field of AEDs and workplace safety, Defibrion offers a wide range of products and related services, acting as a one-stop shop for emergency response needs to more than 6,400 customers globally. These include over 900 resellers in Europe and North America, with the remainder being end-users such as offices, sports clubs and government institutions.

With the support of IK, the Company aims to scale the existing platform on the back of a growing market and increased product awareness, diversifying the offering to directly serve end-customers in new markets and cross-sell to its existing network. Additionally, the Company plans to identify buy-and-build opportunities to accelerate its expansion and drive consolidation in what is currently a fragmented market. 

Joshua Valkenier, Co-Founder and CEO of Defibrion, said: “This is an important next step for Defibrion as we seek to further strengthen our position as a global player in the AED market and target continued growth in a marketplace that is constantly evolving. With the support of the team at IK, who has proven experience investing in the Healthcare sector across various European jurisdictions, we are confident that we can deliver success and growth for all our customers and other stakeholders.”

Frances Houweling, Partner at IK Partners and Advisor to IK SC III Fund, added: “We are very excited about the prospect of partnering with Joshua and his team. Defibrion has established itself as a market leader for AEDs in Europe. This market is predicted to continue growing across Europe at an impressive rate year-on-year, largely due to increased awareness of the need for these products, given the rising risk of cardiac arrest. It is also a sector in which the broader IK team has considerable experience and we look forward to bringing this into our partnership with the Company.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to invest in Kran og Industri Service (“KIS” or “the Company”), a leading Norwegian provider of inspection and services for cranes and lifting equipment. IK is partnering with the Company’s management and employees; most of whom will be reinvesting as part of the transaction. Financial terms of the transaction are not disclosed.

Founded in Norway in 1987, KIS is a leading market participant in the crane inspection and service industry. The Company is equipment-agnostic and employs over 420 employees who serve approximately 4,600 clients. These clients are primarily in the Industrials sector and consider cranes mission-critical to their operations. KIS’ model is based on a full-service offering, covering both testing, inspection and certification as well as service and maintenance. The Company has a long history of providing safe and high-quality services for its customers and has established itself as the clear market leader in Norway.

KIS benefits from a strong platform in a comparatively under-professionalised sector, with solid systems infrastructure and a structured go-to-market strategy which targets the most attractive customer verticals. The Company has also already started its international expansion journey with add-on acquisitions in the Netherlands, laying the groundwork for further geographic diversification.

With the support of IK’s investment and sector expertise, KIS aims to continue its organic growth trajectory by winning new customers in its target markets and improving operational efficiency. Additionally, KIS plans to pursue inorganic growth in both existing and new markets to create a pan-European inspection and service player.

Svein-Frode Børsting, Chairman and Group CEO of KIS, said: “We are looking forward to working closely with the IK team to ensure that KIS solidifies its position as a leading inspection and service player in both Norway and the Netherlands. We are confident that, with their experience of building pan-European champions, we can further expand our position internationally and improve the product offering for our existing customer base to continue our already strong growth trajectory.”

Henrik Geijer, Partner at IK and Advisor to the IK SC III Fund, said: “We have been very impressed with the work already done by the KIS management team to build the market leader in the Norwegian market. With the support of IK’s investment and experience, the Company will be able to target new European markets and ensure that it continues to attract high-quality clients on a recurring basis. We look forward to working closely with Svein-Frode and his team to deliver continued success.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

IK Partners (“IK”) is pleased to announce that the IK X Fund has signed an agreement to invest in BOMA (“the Company”), a leading distributor of cleaning and hygiene products and machines to business-to-business (“B2B”) markets in the Benelux and France. IK will partner with BOMA’s management team, who will retain a significant stake in the business. Financial terms of the transaction are not disclosed which is subject to customary approvals.

Founded in Belgium in 1974, BOMA is a market-leading developer and distributor of sustainable cleaning products, machines and hygiene solutions for the professional market. The Company has an extensive product portfolio which ranges from hygiene paper, disposable materials, detergents and disinfectants to cleaning equipment, including scrubber-dryers and robotics.

BOMA supplies numerous reputable professional cleaning companies, blue-chip corporations within Leisure and Industry and institutions from the Governmental, Healthcare and Education sectors. The Company offers a range of products under its innovative brands BOMA and Greenspeed, as well as value-added services, including digital tools and impeccable support, maintenance and logistics services.

Since inception, BOMA has maintained year-on-year growth momentum, consistently outperforming the market. Under the leadership of Luc Bresseleers and Stijn Wildiers, the Company has also expanded geographically and driven consolidation in the market. In partnership with IK, BOMA will look to broaden its product offering to continue attracting high-quality customers, while also exploring strategic add-on opportunities to further solidify its position across Europe.

Luc Bresseleers, Co-Owner and Chief Executive Officer of BOMA, said: “We are looking forward to working closely with the team at IK to ensure that BOMA cements its position as a market leader in the professional cleaning sector, on a European scale. We are confident that, together, we can deliver continued growth and strategic expansion for the benefit of our customers and stakeholders.”

Stijn Wildiers, Co-Owner and Chief Human Resources Officer of BOMA, said: “We would like to place, on record, our thanks to all our employees, existing shareholders and customers for their loyal support, for 50 years already! We are excited to be partnering with IK and look forward to accelerating the next phase our strategy.”

Jo Breesch, Managing Director at Think2Act, said: “We are proud of the consistent growth that the Company has shown over the last 50 years, including the last five years together with us. We want to thank management for the excellent cooperation.”

Frederik Jacobs, Partner at IK and Advisor to the IK X Fund, said: “Under the stewardship of Luc, Stijn and their team, BOMA has established itself as a leading developer and distributor of cleaning products and equipment in specific areas in Europe. We have been extremely impressed with the Company’s journey to date and look forward to utilising our experience to pursue internationalisation and unlock further value through operational initiatives.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

IK Partners (“IK”) is pleased to announce that the IK VIII Fund has entered into exclusivity to sell its stake in Mademoiselle Desserts (“the Company”), a leading European manufacturer of frozen pastries, to the Emmi Group (“Emmi”). Financial terms of the transaction are not disclosed.

Established in 1984 and headquartered in Montigny-le-Bretonneux in France, Mademoiselle Desserts has rapidly grown to become a leading European manufacturer of premium frozen pastries, including mini beignets, mini muffins, choux-based pastries, tarts, flans and pastry bases.

From its 12 production facilities in France, Benelux and the UK, Mademoiselle Desserts serves over 900 customers in more than 45 countries globally. The Company employs approximately 2,000 people who collaborate closely with its customers to develop bespoke desserts meeting the highest food standards.

In partnership with IK since 2018, Mademoiselle Desserts has achieved several strategic objectives and successfully executed the acquisitions of: Pâtisserie Michel Kremer in 2018; Les Délices Des 7 Vallées in 2019; Planète Gourmet in 2021; and Galana in 2023. These acquisitions have enabled the Company to expand internationally, particularly in the US and Europe, while enhancing its product portfolio towards mini products.

IK also supported the Company with an operational excellence programme centred around purchasing, site specialisation and logistics. Investments in production lines were also made to further expand the business’s capacity. These initiatives, coupled with the expertise of the management team, have resulted in substantial growth and expansion for the group.

Didier Boudy, CEO of Mademoiselle Desserts, commented: “We would like to thank IK for all their support in the past six years. This period has seen us navigate several significant global crises, but we have managed to emerge as a stronger business through the dedication of our own employees and the expertise and financial backing of IK. We are very excited about the next chapter which will see us working closely with Emmi.”

Rémi Buttiaux, Managing Partner at IK and Advisor to the IK VIII Fund, said: “Since investing in Mademoiselle Desserts in 2018, we have been extremely impressed with the professionalism and expertise of the entire team. Together, we have implemented organic growth initiatives and executed several bolt-on acquisitions, solidifying the Company’s position as one of Europe’s leading manufacturers of frozen pastries and desserts. We wish Didier and his team continued success for the next stage of their already impressive growth story.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com