Target: Headfirst Group
Seller: HeadFirst Group shareholders & Kartesia
Advisory sell side: Norbruis Clement Advocaten | Legal Advisory Corporate M&A
Stibbe | Legal Advisory Corporate M&A
Buyer: IceLake Capital
Advisory buy side: JSA Tax | Tax Advisory
Allen & Overy | Legal Advisory Corporate M&A - Tax Advisory
Date announced: 2022-12-06

HeadFirst Group, the leading provider of HR technology services for professionals in the Benelux, announces that it has entered into an agreement with IceLake Capital as a new investor to enable the expansion of HeadFirst Group in Europe.

HeadFirst Group provides a range of HR services to meet the needs of medium and large corporate clients in the private and public sectors, with over 20,000 highly qualified professionals working every day.

The company has a proven track record of strong organic and M&A growth, and has doubled in size over the past two years to more than $2 billion in revenue today. HeadFirst Group's core market segments Managed Service Providers (MSPs) and STEM Materials Sourcing also continued to show positive momentum.
With its strong position in the Benelux, the company sees numerous opportunities for expansion in Europe.
With IceLake’s commitment, there is solid financing in place to realize these ambitions.

Han Kolff, Chairman of the Board of HeadFirst Group, said: “We are very pleased to welcome IceLake as a strong financial investor, next to our existing financing partner Kartesia and our founders. It is testament to the great achievements of our employees in professionalizing our organization and realizing solid growth in the past years. Having IceLake on board, we will be able to realize our strategic goals across Europe.”

Bastiaan Hagenouw of IceLake added: “We are very excited to back HeadFirst Group, as we appreciate how they have developed into a company with a unique and market leading position in the HR services space. We look forward to work with their experienced board and management team to realise their ambitions and providing its innovative, value-added solutions to an even wider range of clients, suppliers and professionals.”

Jean Diercxsens, Director at Kartesia, agrees: “We have seen HeadFirst Group more than double in size and profitability during the two years that we have been involved as financial sponsor and remain committed to be part of this journey. Kartesia is delighted with IceLake as the new investor, which will allow HeadFirst Group to pursue its profitable growth and international expansion.”

Source: MenA
Source: HeadFirst Group