IceLake Capital backs HeadFirst Group as investment partner to accelerate future growth

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Dec 07, 2022, 03:00 ET

HeadFirst Group, the leading HR-tech service provider for professionals in the Benelux, has reached an agreement with IceLake Capital to join as the new investor to enable expansion of HeadFirst Group in Europe.

HOOFDDORP, Netherlands, Dec. 7, 2022 /PRNewswire/ -- HeadFirst Group delivers a suite of HR services tailoring to the needs of large and mid-size enterprise clients in the private and public sector, with over 20,000 highly skilled professionals active daily. It has a proven track record of strong organic and M&A growth, doubling its size over the past two years to over two billion revenue today.

HeadFirst Group's core market segments Managed Service Providers (MSP) and sourcing of STEM-profiles continue to show positive momentum. With an established presence in the Benelux, the company sees ample opportunities to expand in Europe. With IceLake's commitment, there is solid financing in place to realize these ambitions.

Financing for growth In IceLake, HeadFirst Group has found a pragmatic and ambitious shareholder that suits the company and its entrepreneurial culture. IceLake was founded by experienced private equity professionals and entrepreneurs with extensive experience in building and growing companies. IceLake's initial investment is part of a broader funding commitment towards the HeadFirst Group international M&A roadmap.

Han Kolff, Chairman of the Board of HeadFirst Group, said: "We are very pleased to welcome IceLake as a strong investor, besides our financing partner Kartesia and our founders. It confirms our employees' achievements in professionalizing our organization's solid growth in the past years. With IceLake onboard, we will be able to realize our strategic goals across Europe."

Bastiaan Hagenouw of IceLake added: "We are excited to back HeadFirst Group, as we appreciate their development into a company with a unique and market leading position in HR services. 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: "HeadFirst Group more than doubled its size and profitability during the two years of our financial sponsorship and remain committed to be part of this journey. Kartesia is delighted with IceLake as new investor, allowing HeadFirst Group to pursue its profitable growth and international expansion."

The transaction is subject to customary competition approvals.

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