Cipal Schaubroeck has been acquired by Total Specific Solutions

June 2025 — Cipal Schaubroeck has been acquired by Total Specific Solutions B.V. (TSS), a company listed in the Netherlands.

This acquisition complements TSS’s local government software vertical, which is active across several European countries. TSS brings critical market insight and innovation expertise to the partnership. As a long-term owner, TSS is fully committed to supporting Cipal Schaubroeck in the next phase of its growth journey, continuing to invest in existing software suites and service portfolios while enhancing products with new ideas, functionalities, and technologies.

Cipal Schaubroeck is an integrated solution provider serving primarily Flemish local governments, provinces, OCMWs (public centers for social welfare), police zones and social housing organizations. The company offers a broad portfolio of software solutions designed to enhance digital service delivery to Belgian citizens and improve internal processes within public sector organizations. While software forms the core of its offering, Cipal Schaubroeck has developed a comprehensive range of complementary products and services, all aimed at delivering a holistic, end-to-end approach for its clients.

TSS is an international provider of IT business solutions, consisting of independently operated business units that deliver specialized products and services to distinct vertical market segments. With decades of experience, the company has developed strong expertise, with the government sector being a key strategic focus. TSS is a subsidiary of Topicus.com Inc. (TSXV: TOI), which is part of the broader ecosystem of Constellation Software Inc. (TSX: CSU), a global leader in vertical market software solutions.

The seller comprises two equal shareholders: Mr. Frédéric Schaubroeck, a private individual, and Cipal NV, a subsidiary of Cipal DV, an intermunicipal partnership representing 276 Flemish municipalities.

Our role in the transaction

Oaklins’ team in Belgium acted as the exclusive financial advisor to the sellers in this transaction. The Oaklins team in the Netherlands also provided support during the early stages of this transaction.