Waterland's Coeo Inkasso bolts on Netherlands-based CIB

CIB's two founders, Niels de Peuter and Laurens Withagen, as well as Roman Berkhout, have sold their majority stake in the business but will continue to hold minority stakes in the company, according to a statement.

The deal was financed with additional equity backing from Waterland, as well as equity from the management of CIB and Coeo Inkasso.

Coeo Inkasso will also increase its management team with the addition of Elias Reitter as chief strategy officer from June 2020, according to a statement.

Waterland bought a majority stake in Coeo Inkasso in January 2018. IKB Deutsche Industriebank and SEB Acquisitoin Finance provided debt to support the deal. Waterland is deploying equity from its sixth fund, which held a final close in April 2015 on €1.55bn.

Coeo Inkasso generated revenues of €50m at the time of the acquisition and now reports revenues of more than €100m. It now has 300 employees, compared with 180 in 2018.

The deal marks Coeo Inkasso's second add-on during the investment period, having acquired Austria-based KNP Financial Services in 2019. The GP is currently screening the Benelux, Nordic, DACH and French markets for future bolt-ons.

Company
CIB is a platform for debt collection and credit management focusing on e-commerce and pay-after-delivery claims, which are handled via its online platform. Its clients include SMEs, insurers, financial services and healthcare companies, according to its website. Based in Rotterdam, CIB was founded in 2010 and has 50 employees.

People
Centraal Invorderings Bureau – Niels de Peuter, Laurens Withagen (co-founders); Roman Berkhout (commercial director).
Coeo Inkasso – Tom Haverkamp (managing director).
Waterland Private Equity – Carsten Rahlfs (partner).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• DACH
• Financials
• Build-up
• Acquisition finance
• Netherlands
• Germany
• Waterland Private Equity