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Netherlands – Private equity investor to buy TMC

23 October 2012

The mid-market private equity investor Gilde Buy Out Partners has announced a public offer to acquire the Dutch staffing firm TMC (ALTMC:AEX), the firms reported jointly on Monday.

TMC Group is a Netherlands-based company providing skilled professionals in the technical sector. The company was founded in 2000 and last year made revenue of €52 million.

Gilde and TMC have reached a conditional agreement on an all-cash public offer for all issued and outstanding shares at a price of €18.75 per share, the highest price TMC has seen in its six-year history on the stock market. The proposed offer implies a premium of around 47% based on the average closing price over the last 12 months.

TMC said that the offer will give it several benefits and is part of the company’s growth strategy which will be accelerated though organic growth and acquisitions with Gilde providing financial and management support.

The firm also said that shareholders will be able to sell existing shares “at an attractive premium” with the firm planning to delist “as soon as possible.”

TMC will continue its activities under the same name and as an independent company. The company will be run by its current management team. Both parties will finalise the deal in the coming weeks.


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