Holland Capital sells Eshgro to Strikwerda Investments

Wahida Ahmed
31 August 2022

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Holland Capital has sold Dutch IT services provider Eshgro to Strikwerda Investments, a Netherlands-based family office.

The new owner will merge the business with its portfolio company Total Specific Hosting (TSH), a Netherlands-based Cloud & ICT Outsourcing provider, according to the press release. Eshgro's management team will continue in its current roles while its founder, Anton Loeffen, will become CTO of TSH, enabling the acceleration to the public cloud and implementing the rollout of workplace modernisation, according to the press release.

With the support of Strikwerda Investments, Eshgro will combine organic growth with acquisitions in adjacent market segments, to expand its offering and customer base. It is actively seeking partners that can enable the transformation to the cloud which can be accelerated with Eshgro's proprietary software platform, Smarter365, according to the press release.

Holland Capital invested in Eshgro in 2015 as an active shareholder, according to the press release. In March 2020, the sponsor increased its stake in the business becoming the majority owner. The deal was structured as a combination of growth capital and a buyout. Holland Capital deployed equity via HVESH BV, an LP co-investment vehicle of Holland Capital I, according to Unquote Data.

Holland Capital backed Eshgro's buy-and-build and strategic development plans during its ownership, according to the press release.

The sponsor is deploying equity via funds including Holland Venture Entrepreneur Fund III, which held a final close in December 2016 on EUR 55m, according to Unquote Data.

Company
Headquartered in Boxmeer, Eshgro was founded in 1992 and has revenues of EUR 10m, according to reports. The company enables its IT partners to migrate to the cloud using its CSB suite, which includes over 700 applications. Eshgro serves medium-sized businesses in the Netherlands providing Microsoft 365 cloud solutions. TSH and Eshgro have a total of around 850 employees.

People
Holland Capital – Hubert Verbeek (managing partner).
Strikwerda Investments – Tommy Poll (investment manager).
Eshgro – Edwin de Ruijter (CEO).
Total Specific Hosting – Joris Dierick (CEO, CFO).