Management and Gilde Buy Out Partners acquire t-groep

Brussels/Mechelen (Belgium) – Management and funds advised by Gilde Buy Out Partners ('Gilde') announce the acquisition of t-groep NV ('t-groep') from the Flemish government. Both the Flemish government and t-groep see Gilde Buy Out Partners as the best possible partner which fully endorses t-groep's plans for the future. The agreement with Gilde was the closest match with the conditions set by the Flemish government with regard to retaining the decision-making centre in Flanders, safeguarding t-groep's identity and values, and employment.

As announced this year in February, the Flemish government was preparing to sell either part or all of the biggest independent and integrated player in the temporary employment sector in Belgium. The purpose of the takeover was to ensure that t-groep, supported by a carefully selected investor, would have a stable future and a chance to continue the positive track it had set over previous years.

Gilde endorses t-groep's strategy and has the ambition, know-how and resources to ensure t-groep's continued growth. With its specialized knowledge of stakeholdings in medium-sized companies (mid-market private equity), Gilde is an ideal partner for t-groep, especially given that it has promised to work with the present management in order to continue the company's growth as an independent entity. The transaction is subject to approval by the relevant anti-trust authorities.

Nicolas Linkens, Partner at Gilde states:

"We are incredibly honoured to be able to support t-groep and its management in their ambitions for growth. T-groep and Gilde Buy Out Partners share the same values. Clearly, the partnership between t-groep and Gilde is strongly oriented towards the future potential of the company."

Mark Verstraete, CEO of t-groep, confirms:

"T-groep will continue to be t-groep, and we can continue our growth strategy. Gilde Buy Out Partners has an excellent track record when it comes to organic growth for its shareholdings and will support the company to new growth."

Minister-President of the Flemish government Geert Bourgeois:

"This is a once-in-a-lifetime opportunity for the Flemish government to sell its shareholding in t-groep. This fits in our strategy to focus on our core duties. Gilde was the best match with the conditions that we as the Flemish government had set out for a prospective t-groep partner. The new shareholder has committed to maintaining a strong base in Flanders, among other things by focusing on growth in the Flemish market and retaining the decision-making centre in Flanders. T-groep will not only retain its identity, but as a result of the new partner's resources, expertise and international experience, it can continue to expand."

Download the official press release in Dutch.

T-groep

Headquartered in Mechelen near Brussels and employing c. 800 FTEs, t-groep is an HR solutions provider focused on temporary staffing activities in Belgium and the Netherlands. The company has three divisions including t-interim, Luba Group and Ascento and operates 131 offices. In 2015 the Company generated near €380m sales.

Gilde Buy Out Partners

Gilde Buy Out Partners is a leading European private equity investor in mid-market transactions with operations in the DACH region and the Benelux. Gilde manages funds in excess of EUR 3 billion and has offices in Zurich/Frankfurt, Utrecht and Brussels. Since its inception in 1982, Gilde has invested in over 250 companies across a diverse range of sectors. With EUR 1.1 billion, the current investment fund "Gilde Buy Out Fund V" is among the largest dedicated mid-market buy-out investment funds in Europe. Gilde controls majority shareholdings in, amongst others, companies like Amor, Comcave, Riri, Eismann, Royal Ten Cate, Teleplan and Enkco. For more information, please visit www.gilde.com.

Contact details:

Gilde Buy Out Partners
Koos Teule
Director Investor Relations
Tel: + 31 88 220 2618