Bridgepoint to back Vermaat Groep SBO

The transaction sees Partners Group partially exit the business, remaining a minority investor. Bridgepoint is currently investing via its Bridgepoint Europe VI fund, closed on €5.7bn in 2017. 

Partners Group acquired a majority stake in Vermaat Groep from Vermaat’s founding family in 2015. The deal was valued at aroud €390m, according to Unquote Data. At the time, the San Bernardino County Employees' Retirement Association committed $7.01m of equity from a Master Custodial Account managed by Partners Group.

Company
Established in 1978 and based in Ijsselstein, Vermaat is a specialist in tailor-made hospitality, providing outsourced catering services to corporates, museums, hospitals and travel hubs, among others. It operates around 350 food and beverage outlets across the Netherlands, including restaurants, cafés and canteens and has a growing presence in Germany.

The company employs around 4,000 people and is expecting to generate sales of around €300m in 2019.

People
Vermaat - Rick Zeelen (CEO).
Bridgepoint - Olivier van Riet Paap (head of Benelux).

Advisers
Equity - Rothschild (corporate finance); EY (financial due diligence, commercial due diligence); WhiteSpace Partners (commercial due diligence); Freshfields (legal); ERM (ESG due diligence).

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• Topics
• Buyouts
• Exits
• Benelux
• Consumer
• Netherlands
• Partners Group
• Bridgepoint
• Secondary buyout