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 provider of testing, inspection and related services (“TIS”). IK acquires its stake from existing shareholders HC Partners, founders of the respective Group companies and management, all of whom will reinvest. Financial terms of the transaction were not disclosed. At this time, everything is still subject to ongoing procedures with the ACM (Authority Consumer Market), once these formal procedures are completed and full approval is a reality, we will communicate further.
Sansidor was created in 2018 through the acquisition of several inspection companies by HC Partners. Since then, the Group has grown significantly and today consists of 18 companies in the Netherlands. With a wide range of products and services already offered, Sansidor aims to provide a one-stop shop for small, medium and larger companies throughout the built environment. To achieve this, Sansidor pursues an active buy-and-build strategy focusing on high-performing specialized companies with an entrepreneurial spirit that complement its existing offering.
Collectively, the Group has nearly 400 employees serving more than 9,000 customers in a variety of industries. We operate in four major segments: Water Safety; Fire Protection; Electrical; and Building Integrity and two major niches of Infection Prevention and Air Measurement, the Group benefits from a high level of recurring sales due to insurance, regulatory and legal requirements, with significant customer loyalty and customer retention.
In collaboration with IK and with the continued support of HC Partners, Sansidor will further develop its internal 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 cooperation between entities and local entrepreneurship and culture remains central.
Udo Waltman, CEO of Sansidor, said, “I am extremely proud of the progress we have made in recent years, especially with our ‘Buy and Build Together’ strategy. Through our strong growth ambitions, we have made several acquisitions of entrepreneurial TIS companies with established track records. This has enabled us to continuously develop our offering and provide clients with access to a dynamic network of professionals from different disciplines. We would like to thank HC Partners for all their support to date and we look forward to welcoming the IK team on board for this next phase of our journey. We are extremely grateful to our strong and loyal client base and all our colleagues who contribute to our collective success and help us achieve 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, with a fast-growing company that has significant potential to develop further. We are impressed with the path Sansidor has taken so far and are convinced of the critical and resilient nature of the services provided by the dedicated group of companies. We look forward to using our experience to support Udo, Dave and Frido and their teams in the next phase of the Group’s growth, including working with HC Partners.”
Erik de Boer, Partner at HC Partners, said, “We are very proud of Sansidor’s journey over the past six years and are eager to continue our commitment to Sansidor through our second fund. With 18 acquisitions since its inception in 2018, Sansidor is a great example of what we love to do: partnering with entrepreneurs and ambitious management teams and focusing on accelerated growth through buy-and-build acquisitions. We look forward to entering this new phase and continuing to support Sansidor’s growth, together with the IK team.”
About Sansidor
Sansidor is a rapidly growing network of TIS (test, inspection and services) companies. We focus mainly on the themes of safety, health and sustainability. Many of our services are repetitive in nature and are often based on buildings, facilities and spaces where people live, work or stay. We grow by adding companies that maintain a high degree of independence. We support where possible and look for synergy opportunities between the companies. In this way, we provide an interesting base for all colleagues and are able to offer our customers an increasingly broad range of services. We call this “Buying and building together. Our motto is: Ensuring a safe and healthy environment. For more information, visit sansidor.com
About IK Partners
IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Scandinavia and the UK. Since 1989, IK has raised over €16.5 billion in capital and invested in more than 190 European companies. IK Partners supports companies with strong underlying potential and works with management teams and investors to create robust, well-positioned companies with strong long-term prospects. For more information, visit ikpartners.com
About HC Partners
HC Partners is an independently managed private equity firm headquartered in Amsterdam. It has a strong track record as a partner-shareholder in supporting entrepreneurs and management teams in growing their businesses, both organically and through buy-and-build strategies. The firm invests in small and medium-sized companies in promising sectors in the Benelux. For more information, visit hcpartners.nl
For further questions, please contact:
I Partners
Vidya Verlkumar
Phone: +44 7787 558 193
