BrazilEPSA boosts Dutch presence with award-winning consulting group
French professional services firm EPSA has closed the largest acquisition in its 22-year history with the purchase of AB&C Groep, a Dutch counterpart with around 500 staff.
With the acquisition, EPSA bolsters its expertise in the Dutch market, which it previously had entered through a small acquisition at the start of 2022.
AB&C Groep now adds two household names in the country’s consulting scene to its roster: Boer & Croon, a management consultancy and executive interim firm; and AevesBenefit, the nation’s largest procurement services firm. Both players last year ranked among the country’s leading consultants by industry publication Consultancy.org.
Founded in 2001 as a specialised procurement consultancy, EPSA has since grown into a global firm operating in three lines of business: procurement, performance improvement and operational excellence, and innovation. Deals have been an integral part of its growth strategy.
Prior to its latest transaction, the company had 1,600 staff in 30+ countries, with its headcount now passing the 2,000 mark.
“Our goal is to create the undisputed leader in operational performance and procurement,” said company founder, president and majority shareholder Mathieu Gufflet. “We are delighted to welcome AB&C Groep.”
AB&C Groep was formed in May 2022 when Aeves Group acquired Boer & Croon. The latter provides management, interim and young professional services. AevesBenefit provides end-to-end services in the procurement landscape, from consulting and staffing, through to executive search and managed services. AB&C Groep booked revenues of over €130 million in its latest financial year.
Behind the scenes, the deal is also one of private equity groups. AB&C Groep was owned by Gate Invest (55% stake) and management members (45%), they have now sold their stake to EPSA’s shareholders, which includes financial sponsors TowerBrook, Raise Investissement and Capza.
Financial terms of the deal have not been disclosed. According to reporting by Het Financieele Dagblad (FT’s namesake in the Netherlands), the deal was struck against a valuation of between €150 and €200 million. Senior partners of AB&C Groep have meanwhile reinvested through equity stake in EPSA.
Sherief Abdalla, CEO of AB&C Groep, said that the joining of forces with EPSA will benefit the firm’s offerings for both clients and staff. “We see a strong strategic fit. EPSA’s market leading profile will help AB&C Groep further its strategic agenda.”
