Investment news

Partners Group, the global private markets investment manager, has agreed the sale of 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 will be acquired by Bridgepoint, an international private equity group. Partners Group will retain a minority position in the Company on behalf of its clients following the completion of the transaction. The agreement on the sale of Vermaat is subject to advice from the Dutch Works Council and approval from relevant regulatory bodies.

Established in 1978 as a delicatessen store, Vermaat is a specialist in bespoke hospitality, providing premium outsourced catering services to a variety of markets. Partners Group, acting on behalf of its clients, acquired Vermaat from its founding family in 2015, when it had a total of 231 outlets in the Netherlands and generated annual sales of EUR 138 million. Since its investment, Partners Group has added significant value to the Company through active ownership, with initiatives including the implementation of a new brand concept and strengthening of the management team. Additionally, ten synergistic add-on acquisitions were completed under Partners Group's ownership, strengthening Vermaat's market leadership in its core customer segments of Corporate, Leisure, Hospitals and Travel, and expanding its geographical coverage. Today, Vermaat has around 350 premium food and beverage outlets across the Netherlands, including restaurants, bistros, cafés and canteens, and a growing presence in Germany. The Company employs over 4,000 people and is expected to generate close to EUR 300 million of sales in 2019.

Rick Zeelen, CEO of Vermaat, comments: "Vermaat has benefitted tremendously from the supportive ownership of Partners Group over the past four years. We have worked side by side to create sustainable growth for the Company, building an organization which is dynamic and responsive to its clients and other stakeholders, while preserving our unique entrepreneurial culture. We are grateful to Partners Group for its contribution to Vermaat's bright future and look forward to continuing our positive relationship going forward."

Bilge Ogut, Managing Director, Private Equity Directs Europe, Partners Group, states: "We are extremely proud of the growth we have overseen at Vermaat during our holding period. The value creation plan that we carried out alongside the Vermaat management team has substantially and sustainably increased the Company's scale and reach, as well as its top and bottom line, making it a clear leader in its category. Vermaat is well-positioned for further growth and we are delighted to have the opportunity to continue to support the business."

Advisors to Partners Group on the transaction included Goldman Sachs, KPMG, Bain & Company and Clifford Chance.