Egeria's Ilionx bolts on QNH

The GP backed the bolt-on by deploying capital from Egeria Private Equity Fund IV, Unquote understands.

Following the acquisition, Ilionx and QNH – which will continue to operate under their brand names for the time being – will combine forces creating a large ICT service provider with around 800 employees and revenues of more than €100m. Ilionx CEO Wiebe de Boer and CFO Erwin van den Bosch will lead the business strategy alongside QNH CEO Hen Snackers, who will become COO.

Egeria acquired Ilionx, a company that specialises in data science, software development, cloud computing, management consulting and interactive marketing, in June 2017, deploying capital from its Egeria Private Equity Fund IV. The vehicle held a final close in December 2012, reaching its hard-cap of €600m.

According to the firm, the transaction will strengthen both companies' capabilities in Microsoft and Java technology, create one of the largest players in the Netherlands with a combined total of around 150 business intelligence experts and support Ilionx's growth strategy.

Company
Founded in 2004 and based in Amsterdam, QNH specialises in business integration, helping companies adjust and improve their business operations and enhance their performance through the use of IT architectures and mobile applications.

The company provides IT advice, development, implementation and management. QNH employs 470 people and has offices in the Netherlands and Belgium. In 2017, the company generated EBITDA of around €4.6m from revenues of €57.6m.

People
Egeria – Floris Waage (partner).
Ilionx – Wiebe de Boer (CEO).
QNH – Hen Snackers (CEO).

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• Topics
• Expansion
• Benelux
• Technology
• Egeria
• Netherlands
• Acquisition finance
• Build-up