Avedon acquires Dutch HR agency Olympia from NIBC

Olympia franchise operator Dimitri Yocarini partnered with Avedon in the transaction, having run three branches of the staffing company.

The deal comes partly as a result of internal conflict within Olympia over franchising fees charged by NIBC. Avedon's capital injection will allow for a change of the franchising structure, where franchisees are offered a small stake in the parent organisation, and fees that were seen as excessive are scrapped.

NIBC exits after six years of ownership, having acquired Olympia through a debt-to-equity swap in 2010, when its German parent went bankrupt.

The buyout is subject to approval by the relevant authorities.

Company
Founded in 1969, Olympia is an employment and staffing agency based in The Hague. It is composed of 90 dedicated offices and 50 in-house locations.

People
Olympia – Dimitri Yocarini (director).

Advisers
Equity – Stibbe, Egbert Vroom (legal).

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• Topics
• Buyouts
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• Netherlands