House of HR, a Belgium-based staffing firm, announced that private investment firm Bain Capital Private Equity has entered into a share purchase agreement for the acquisition of a 55% stake in the company.

House of HR Management, Naxicap and founder Conny Vandendriessche will hold the remaining equity.

Financial details were not disclosed. The closing of the transaction remains subject to customary regulatory approvals.

According to House of HR, the new strategic partnership will ‘maintain the company's entrepreneurial spirit’, help House of HR scale its unique platform into new markets and increase digital investments.

Rika Coppens, CEO of House of HR, said, “With Bain Capital’s investment in House of HR, we start a new chapter in our incredible story. We intend to continue our growth path, based on strong organic growth combined with targeted and specialised M&A in existing markets, DACH countries and the Nordics. All supported by continued focus on digitisation while maintaining a high standard when it comes to attention to people, both internal employees but also all our candidates.”

Christophe Jacobs van Merlen, Managing Director, Bain Capital Private Equity, added, “It is rare to find such a unique platform with a vibrant, energetic ethos and outstanding management team as House of HR.”

Matthias Boyer-Chammard, Managing Director, Bain Capital Private Equity, said, “We have been impressed by House of HR’s specialised business model, underpinned by strong employee ownership which has generated sustained above-market growth for more than 10 years. This combined with a unique track record of successful M&A in this sector, which we look forward to accelerating. We’re pleased to be embarking on this partnership, with Naxicap and Conny Vandendriessche both keeping their wealth of expertise in the business.”

“We are proud to handover our position as a majority shareholder at House of HR, a Group that is stronger than ever, with a significant international footprint, generating ten times more profit than in 2012 and ready for a new growth path with a prominent shareholder like Bain Capital. Above all, I would like to thank all the people of House of HR and Conny Vandendriessche for this exceptional journey,” said Eric Aveillan, CEO, Naxicap Partners.

Conny Vandendriessche, founder of House of HR and board member, said, ““I am really very happy that House of HR has found a new majority shareholder, that, like Naxicap did in the last 10 years, really understands the entrepreneurial and human centric DNA of the company. It has been a dream come true for me to see that House of HR turned into an international group that was born from 1 Accent office in Roeselare (Belgium).”

For the full year 2021, House of HR reported revenue of €2.2 billion, an increase of 18.8% compared to 2020.

Earlier this year, the group acquired 100% of Netherlands-based TMI, an HR service provider for the healthcare sector in the Netherlands. In February 2022, the company also acquired Solcom, a Germany-based recruitment firm specialising in IT and engineering staffing.