Gimv invests in Trustteam

Founder and CEO Stijn Vandeputte and executive director Patrick Cornette will hold the remainder of the shares.

The investment will be used for further organic and external growth. The deal originated through Alpha Investment Services who arranged the sale for the vendor.

Debt
A debt facility was provided by BNP Paribas Fortis.

Company
Trustteam was established in 2002 and is an ICT company offering total solutions to SME's in infrastructure, software, security and communication. The firm employs about 65 people in its offices in Belgium and Romania. Trustteam has a customer base of around 1,500 SME companies operating in the service sector. In 2010, the firm generated a turnover of €10m representing 5x its revenues in 2005. By continuing its current strategy, the business is planning to double its turnover by 2016.

People
Tom Van de Voorde, Els Decock and Ann Maurau worked on the investment for Gimv.

Advisers
Equity - Eubelius (Legal)
Vendor - Alpha Investment Services (Corporate finance)

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