Baar-Zug, Switzerland, 7 December 2015
Partners Group, the global private markets investment manager, has agreed to acquire Vermaat Groep B.V. ("Vermaat" or the "Company"), the Dutch market leader in high-end catering and hospitality services, on behalf of its clients. The Company is being bought from its founding family and the transaction is expected to close later this year. Financial terms are not being disclosed.
Founded in 1978 as a single delicatessen store in Utrecht, Vermaat today provides outsourced catering services to eight end markets including corporates, museums and hospitals. It operates a total of 231 premium food and beverage outlets across the Netherlands, including cafés, bistros, restaurants and canteens, each tailored to the individual requirements of the client. Through long-term contracts, the Company serves a number of high profile clients, such as the Van Gogh Museum, Mauritshuis, Radboud Hospital and Nyenrode Business University. Vermaat employs over 2'300 people and is expected to generate sales of more than EUR 130 million in 2015.
Following its investment, Partners Group will work with the Vermaat management team to further assist and develop the growth plans of the Company, drawing on its long track record of investment in the food sector globally. Specifically, the firm will work with management to lay the groundwork for expansion into neighboring countries.
Paul Vermaat, exiting CEO and founding family shareholder of Vermaat, who will stay with the company as a senior advisor, comments: "Vermaat has been in our family for almost 40 years and we are very proud to have built it from small beginnings into the Dutch market leader in its category. However, having reached that milestone, it became clear to us that we would need to pass the Company into new hands in order for the growth to continue. Throughout the succession process, we have focused on finding a partner that shares our values, could be trusted to uphold them and would work well with our existing management team. We are confident we have found this partner in Partners Group and I am personally looking forward to remaining involved in Vermaat's exciting growth story."
Bilge Ogut, Managing Director and Head of Private Equity Europe at Partners Group, will join the Board of Vermaat once the transaction completes. She states: "We are extremely pleased to partner with Vermaat's management team to acquire the Company. Vermaat's strong growth since inception is evidence of its unique value proposition to clients and its success with end consumers. We look forward to providing the strategic support required to ensure that Vermaat continues to thrive in its home market and can also take advantage of opportunities to expand abroad."
Rick Zeelen, CCO of Vermaat, will be appointed CEO after the transaction. Rick confirms: "We would like to welcome Partners Group on board as our new business partner. We have been impressed by the firm's strong entrepreneurial spirit, relevant industry experience and commitment to supporting our international expansion. This transition will open up several exciting new opportunities for the Company while maintaining the uncompromising quality in hospitality that Vermaat has built its reputation on."