GoodtobeBetter, Fincade and STRADIS continue together as The Trainee Company
We recently celebrated a special closing. In one transaction, both the companies Goodtobebetter and Goodtobebetter Finance and the companies Fincade and Stradis became the property of Quadrum Investment Fund IV. From a dealmaking perspective, a very challenging but above all interesting transaction.
Some time ago, the founders of Fincade and Stradis expressed to FBM their desire to start a sales process. They had reached a stage in their lives where they wished to end their business activities. FBM had previously sold two other companies for these founders, and since FBM is well known in the business services industry, it was a logical step to consider a sales process.
At about the same time, in the parking lot, we struck up a conversation with our neighbors from GoodtobeBetter and Goodtobebetter Finance, two companies that, at first glance, looked enormously similar to Fincade and Stradis. Michiel Dullaert and Derk Kropholler of FBM philosophized together whether both companies could not be “virtually” merged to create a more interesting position for the market. After all, most private equity parties do not look at companies below a certain size for a platform investment.
After we got the shareholders of both “blood groups” excited about this plan, FBM first talked a lot with all stakeholders. This was important to examine, whether and how, the companies could align not only now, but also in their vision of the future. Naturally, this included the distribution of the sale proceeds and the roles of the continuing shareholders in the future. This is where Project Stockholm, an idea on paper, was born.
A brief information memorandum was written and discussed with preselected parties from home and abroad. Many parties indicated that they found the proposition very interesting but felt that the integration risk was too great. A limited number of investment companies were enterprising enough to take on the adventure and saw opportunities in the trainee market, among others.
The best click emerged with the hands-on investment company Quadrum Capital to flesh out the common ambition. An intensive process followed, with four parallel due diligence processes. In addition, a business plan was written together with Quadrum. Subsequently, four purchase agreements were concluded.
Five continuing shareholders, together with Quadrum Capital, will enthusiastically flesh out their shared ambition.
It was our pleasure to oversee this special and interesting transaction. We would like to especially thank the persons listed below for their contribution in this process.
- GoodtobeBetter: Martijn Blok and Jelle van Duijn
- GoodtobeBetter Finance: Martijn Blok, Jelle van Duijn and Johan Gelderblom
- Stradis: Jan Gieles, Nico Laan and Yvonne Rijff
- Fincade: Jan Gieles, Nico Laan, Jan van Lint and Marco de Ruijter
- Quadrum: Peter Oostenenk, Gert van Drie and Jorick-Pieter Hassing
- The Breij: Gaston Freijser and Vicky Stassen
- From Loman: Marc Oostenbroek and Steven den Boer
- Clint: Sander Theunissen
- JBLAW: Lucas Brabers and Dynah Dettingmeyer
- ING: Olaf Weeda and Rob Reefman
- Zuidbroek: Annemarie Struyken and Agaath Kappert
e-Book: Buy and Build
Sometimes the sum is worth more than the parts, in which case a so-called “buy and build” strategy can be interesting. In a “buy and build” strategy, growth and long-term value are realized by acquiring and merging companies.
A “buy and build” offers many opportunities but also has risks. It is therefore essential to carefully weigh strategic choices in advance. This handbook gives you tools to get you started in making these trade-offs.
