Today, Ergon Capital Partners IV SCSP (“Ergon”) announced the acquisition of a majority stake in the leading Dutch technical and R&D expertise provider TMC from funds advised by Gilde Buy Out Partners (“Gilde”). TMC’s founders Thijs Manders and Jan van Rijt and CEO Emmanuel Mottrie, together with other members of management, will reinvest alongside Ergon in the transaction.
Founded in 2000, TMC developed a leading position in providing technical and R&D expertise in the Dutch market. Over the last five years, TMC replicated this model abroad by successfully entering the Belgian market and opening offices in France, Italy, Spain, Portugal, Sweden, UAE, Canada and the USA. Simultaneously, TMC expanded the technical niches in which it operates.
TMC is active in a growing industry that benefits from solid underlying fundamentals such as the fast pace of technological innovation that is disrupting a wide range of industries and shortage of engineers on the job market. The company operates through a differentiating “Employeneurship” model to attract and retain best-in-class talents, and to combine technical expertise with entrepreneurship. In the coming years, TMC has the ambition to continue growing its business in the Netherlands and Belgium, while increasingly expanding its footprint to serve its international client base and partner with new high-tech customers.
TMC was searching for a new partner that could accelerate the company’s international roll-out and shares its values, vision and strategy. As a result, Ergon will acquire TMC alongside its management and founders. Through the partnership with Ergon, TMC will be able to leverage Ergon’s pan-European presence and strong international network.
For Thijs Manders, founder of TMC, who will also remain President of the Board of Directors, this partnership creates opportunities to accelerate the company’s growth trajectory: “The technological evolution is clearly accelerating, resulting in a growing demand for technical expertise to solve the increasingly complex challenges that our clients are facing. We want to continue to be at the forefront of these technological changes, by offering expertise across all industries and technical fields. Following our delisting arranged by Gilde, we have built a strong organizational foundation for international growth and our new partnership with Ergon will allow us to continue hiring passionate and entrepreneurial engineers to achieve our future ambitions”.
Emmanuel Mottrie, CEO of TMC, is very pleased with this partnership: “In Ergon we found an excellent partner that can support our international growth plans and shares the same values. Together with our country CEOs and ~1,000 “Employeneurs” worldwide, we will reinforce the company’s culture and we will strive for sustained future growth”.
Wolfgang de Limburg, Managing Partner at Ergon, comments on the transaction: “We are enthusiastic to support TMC in its ambitious growth plans for the coming years. Ergon’s pan-European presence and strong international network match closely with TMC’s needs. Furthermore our entrepreneurial and hands-on DNA is very well aligned with that of TMC and its management team”. Pieter Lambrecht, Partner at Ergon, is delighted with the upcoming collaboration and complements: “TMC has an excellent reputation and enjoys great customer and “Employeneur” satisfaction. We are impressed by TMC’s strong track record and clear vision based on the unique model developed by Thijs Manders. We look forward to support the whole TMC team, from Eindhoven to New York, in realizing its ambition”.
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Since 2000, TMC focused on providing technical and R&D expertise to global high-tech customers. TMC operates through a unique “Employeneurship” model that allows the company to attract and retain best-in-class technical talent and fosters entrepreneurship. TMC’s expertise is primarily focused on the most critical technical challenges of today and delivers engineers that are involved in its customer’s core R&D processes. In December 2018, TMC was active in 9 countries with 17 offices, employing more than 1,000 employees of which more than 900 technical consultants.
For more information on TMC visit tmc-employeneurship.com.
Ergon is a mid-market private equity investment company with in excess of €1.0 billion under management from select European institutional investors and family offices, including Groupe Bruxelles Lambert, through its fully owned subsidiary Sienna Capital, as cornerstone investor. Ergon is a disciplined and discreet value investor, which provides “patient and friendly capital” to entrepreneurs and managers, who need capital and industrial solutions to accelerate the development of their companies. Ergon makes equity investments from €25 million up to €75 million in leading companies with a sustainable competitive position in attractive niche markets located in the Benelux, France, Germany, Italy and Iberia. Ergon is advised by Ergon Capital Advisors which has offices in Brussels, Paris, Munich, Milan and Madrid. Since its inception in 2005, over successive investment programs, Ergon has raised approximately €1.6 billion, invested in 22 companies (of which 7 have been in the Benelux, 3 in France, 3 in Germany, 7 in Italy and 2 in Spain) and completed 44 add-on acquisitions for a total aggregate transaction value in excess of €3.5 billion. Ergon’s current portfolio consists of 11 companies across its target sectors.
For more information on Ergon visit ergoncapital.com.
About Gilde Buy Out Partners
Gilde Buy Out Partners is a leading European private equity investor with offices in Zurich, Frankfurt, Utrecht and Brussels. With €1.1 billion, Gilde Buy-Out Fund V, the most recent fund, is among the largest dedicated mid-market buy-out investment funds in Europe. Gilde controls majority shareholdings in Esdec, ZND, Albelli, Oystershell Laboratories, Caseking, Amor, T-groep, Royal Reesink, Comcave, Riri, Royal Ten Cate, Enkco, Eismann, Teleplan and Powerlines.
For more information on Gilde visit gilde.com.