Oaklins advises Gilde Healthcare on the envisaged sale of BlijWerkt, a leading occupational health and safety service provider
Oaklins announces that it has acted as exclusive financial advisor to Gilde Healthcare on the envisaged sale of BlijWerkt to the investment company Mentha Capital. Under the ownership of Mentha Capital, BlijWerkt is to enter into collaboration with paraDIGMA Group to form a new group. Mentha Capital will take a majority stake in the combination of the two service providers which operate in the field of sustainable employability and provide employment to over 400 employees. The transaction is subject to the approval of the Dutch Healthcare Authority (NZa).
We are very grateful to Oakins for their support on this, behind the scenes, complex transaction. They have clearly proven their added value as they were able to quickly understand the essence of the business and structure the process in such a way that it benefited us, but also prospective acquirers. Throughout the process, the Oaklins team has proven to be a dedicated and knowledgeable partner to us.HUGO DE BRUIN, GILDE HEALTHCARE
The collaboration creates a strong and fast-growing combination which challenges the established order with its innovative methods. The combination offers a wide range of services where an integral approach and personal approach are central. The two companies already have 500,000 affiliated employees throughout the country. Customers will benefit from the complementary service package of both companies and the focus on sharing knowledge and capacity.
Market trends and deal drivers
Driven by a fragmented market landscape, the importance of national coverage, IT investment requirements and the need to invest in training and task delegation, there is a strong trend towards a consolidation of the occupational health services market. In recent years, big industry players as well as smaller ones have been acquisition targets in order to expand capacity, enhance capabilities and leverage economies of scale in a highly competitive environment. In addition, companies active in adjacent segments are increasingly interested to expand into occupational health services to capitalize on existing networks and cross-selling opportunities.
The transaction underscores Oaklins’ continuous track record of successfully executing transactions on behalf of leading companies in the Business Support Services sector.FREDERIK VAN DER SCHOOT, OAKLINS
BlijWerkt is a health and safety service provider that combines the power of the bigger players with the flexibility and personal attention of the smaller ones. With 120 BlijWerkers, the company is known as a vibrant leader, energizing employers and employees alike, so that ultimately everyone is and remains happy at work.
Mentha Capital is an independent investment company that focuses on the lower-end of the mid-market in the Benelux. Mentha invests in established, medium-sized and profitable companies that have the opportunity to grow further through a buy-and-build strategy, expansion into new markets or an organizational transition. With more than EUR 400 million under management, Mentha works actively with entrepreneurs to support their companies in realizing their ambitious growth plans.
Gilde Healthcare is a specialized European healthcare investor managing EUR 1 billion across two fund strategies: venture & growth capital and private equity. Gilde Healthcare's venture & growth capital fund invests in health tech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare's private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market.
I am grateful to Gilde for having supported the development of our company. I look forward to working with Mentha and the paraDIGMA Group. Utilizing the expertise of the paraDIGMA Group in areas in which we at BlijWerkt are less active, enables us to serve our customers even better in the future.RUUD PELS, BLIJWERKT
Oaklins provides independent corporate finance advice to companies in the mid-market, with dedicated industry teams in 45 countries worldwide. Contact our team for more information on this transaction.