H2 buys Myler, bolts on Jenrick

The deal, subject to regulatory approval, saw H2 draw equity from its €300m fourth fund to secure its majority stake. Meanwhile, Myler founder and CEO Toon van Bodegom will remain a minority shareholder.

Under H2's tenure, Myler intends to grow via a buy-and-build strategy. The business has already acquired Jenrick, a competitor within the Dutch IT recruitment and staffing sector.

The merger of the similarly sized businesses will see Myler benefit from Jenrick's focus on the non-profit, technology, finance and telecoms sectors.

Geo van der Wilk, previously managing director at Logica and CEO of Fujitsu Benelux, recently joined Myler as chief operations officer.

Company
Founded in 2009, Myler is a recruitment and staffing network bringing together corporate managers and professionals from the IT sector. Headquartered in Utrecht, the business has a workforce of around 1,000 and most recently posted €80m in revenues.

Culemborg-headquartered Jenrick Netherlands spun out of its UK parent in 1986 and specialises in staffing and secondment for employees working in IT, among other sectors. The company employs 26 staff and generated €80m in sales in 2014.

People
Partner Harmen Geerts and associate Dennes van der Vlist led the deal for H2 Equity Partners. Toon van Bodegom founded Myler and is currently CEO of the company.

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• Topics
• Benelux
• Buyouts
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• Netherlands
• H2 Equity Partners