Target: Xaris ICT & Telecom
Seller: Xaris ICT & Telecom Management
Advisory sell side: Stepstone Corporate Finance+ | M&A Advisory
Buyer: Riverdam Participations
Advisory buy side: Wave Corporate Finance | Legal Advisory Corporate M&A
Koenen & Co | M&A Advisory
KD-Legal | Legal Advisory Corporate M&A
Involved: EMK Capital
Date announced: 2023-11-14

Riverdam Investment Firm has acquired a majority stake in Xaris ICT & Telecom, solidifying its buy & build initiative aimed at regional IT managed service providers. Xaris ICT, based in Wognum, has been a specialized IT and Telecom managed services provider since 1988, catering to small to medium-sized businesses primarily in the North and Central regions of the Netherlands by implementing and managing cloud ICT solutions.

Expansion of Regional IT Managed Service Providers
The IT sector stands among the fastest-growing industries in the Netherlands, playing a pivotal role in facilitating the digitalization of other sectors. Xaris ICT's cloud ICT solutions ensure secure and seamless remote work for employees. "The Dutch IT market is the country's third 'Mainport,' and we foresee further accelerated growth in the coming years due to the ongoing digital transformation as a driving force. The majority stake in Xaris ICT marks our eighth investment as part of our ambition to grow in this market, both organically and through acquisitions. We strongly believe in the distinctive value of regional IT managed service providers," stated Riverdam Investment Firm co-founder Derk van Wingerden. "Through this acquisition, Xaris ICT, as a regional IT managed service provider, can accelerate its growth, enhance organizational professionalism, and assist even more small and medium-sized enterprises with online workplace management, point-of-sale service and support, software development, and telecom-related services," said Xaris ICT Director Raymond Habes.

Scaling Demands a Different Approach
The market and organization of Xaris ICT continue to expand and evolve. "We observe ongoing market consolidation. Scaling demands a different approach. Hence, it's the right moment for Xaris ICT to join Riverdam Investment Firm's buy & build initiative," affirmed Habes. Xaris ICT's management, including Raymond Habes, Jaap Appelman, Robert Antkowiak, and Ton Swart, looks forward with confidence to the collaboration and further growth of Xaris ICT as an IT managed service provider.

About Xaris ICT
Xaris ICT specializes in IT and Telecom managed services for small and medium-sized businesses, operating from its office in Wognum. It offers an extensive range of IT services, including online workplace management, point-of-sale (‘POS’) service and support, software development, and telecom-related services.

About Riverdam
Riverdam is an investment firm focusing on profitable Dutch SMEs with a turnover of up to 20 million euros. It offers entrepreneurs the best opportunity to further grow their businesses by leveraging expertise, financial options, hands-on support, and an extensive network.