Beryllium BV, Dutch acquisition holding company with international investors, has acquired approximately 95% of the shares in HeadFirst Source Group NV.

HeadFirst Source Group’s major shareholders, including majority shareholder Value8 NV, have confirmed to HeadFirst Source Group the sale of their stake in Beryllium.

Beryllium has indicated that it has acquired the shares at a price of €3.00 per share, of which €2.50 has been paid in cash and the remaining €0.50 in the form of a vendor loan. At €3.00 per share, HeadFirst Source Group is valued at €37.4 million.

According to Beryllium, it acquired HeadFirst Source Group due to the company’s strong market position, its successful acquisition strategy, and the contribution that Beryllium can make to the realisation and financing of further growth and acquisitions.

In July 2018, HeadFirst Source Group announced that it acquired 100% of the shares of Myler, a company based in the Netherlands that specialises in matchmaking, contract management and global sourcing, mainly in the IT sector. Beryllium said it would support HeadFirst Source Group in financing and finalising this transaction.

“For HeadFirst Source Group, the takeover by Beryllium means that the growth strategy will be implemented in a different way,” HeadFirst Source Group stated. “Beryllium has indicated that it has significant funding available to finance subsequent acquisitions. The growth trajectory can therefore be continued outside the listed environment.”

For the full year 2017, HeadFirst Source Group reported revenue €498.9 million.

HeadFirst Source Group CEO Gert-Jan Schellingerhout commented, "We are very pleased with this step. The ambition of Beryllium fits perfectly with the plans we have with the organisation. An international investor such as Beryllium offers HeadFirst Source Group the opportunity to continue our growth strategy both in the Netherlands and abroad and to further develop our ambition to become a leading player in the flex market. "

Berryllium is financially supported by the Swiss financial services company ruvercap group AG, an investment manager of large and medium-sized institutional portfolios.