Growth Capital • Business Services

IceLake Capital and Kartesia Invest In HeadFirst Group

On December 5, 2022, private equity firm IceLake Capital and lender Kartesia invested in business services company HeadFirst Group

Investment Context
  • This is IceLake Capital’s 2nd and Kartesia’s 10th transaction in the Business Services sector.
  • This is IceLake Capital’s 4th and Kartesia’s 2nd transaction in the Netherlands.

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Investment Summary

Date December 5, 2022
Target HeadFirst Group
Sector Business Services
Investor(s) IceLake Capital
Kartesia
Deal Type Growth Capital

Target Company

HeadFirst Group

Hoofddorp, Netherlands
HeadFirst Group is a provider of matchmaking, contracting and payrolling services. HeadFirst Group was founded in 2016 and is based in Hoofddorp, Netherlands.
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Investors Overview 2

DESCRIPTION

IceLake Capital is a private equity firm focused on investments in medium-sized companies across Belgium, the Netherlands, and Luxembourg. The Firm seeks businesses operating in niche markets with solid cash flows, experienced management teams, and opportunities to grow through acquisitions. IceLake Capital was founded in 2018 and is headquartered in Amsterdam, the Netherlands.


Deal Context for Investor #
Overall 5 of 10
Sector: Business Services 2 of 3
Type: Growth Capital 3 of 4
Country: Netherlands 4 of 8
Year: 2022 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-19 Constructif

Dordrecht, Netherlands

Constructif is a real estate sustainability and maintenance partner in both the residential and utility segments with a focus on (semi-)public customers. Clients range from housing associations to education- and healthcare institutions. IceLake supports Constructif with autonomous growth, buy & build and further professionalization of the organization. Constructif was founded in 1954 and is based in Dordrecht, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-23 Interduct

Ittervoort, Netherlands

Interduct is a ventilation specialist in the Netherlands. Interduct is an indoor climate technology specialist with a focus on the residential new build and renovation market. Interduct was founded in 1984 and is based in Ittervoort, Netherlands.

Buy -
Investor

Kartesia

Investor Investor Investor Investor Investor


Category Lender
Founded 2013
PE ASSETS 7.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Kartesia is a private investment group and lender that looks to invest in lower middle-market companies throughout the European Union and Central Europe. The Firm is industry agnostic and seeks to commit €10 to €150 million in profitable companies with at least €5 million of EBITDA. Proceeds are typically invested alongside sponsors to support buyouts, recapitalizations, shareholder liquidity needs, or restructurings. Kartesia was established in 2013 and is headquartered in London.


Deal Context for Investor #
Overall 42 of 53
Sector: Business Services 10 of 11
Type: Growth Capital 5 of 8
Country: Netherlands 2 of 3
Year: 2022 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 Delivery Associates

London, United Kingdom

Delivery Associates is a social impact consultancy and deliver measurable impact on the targets and development goals of philanthropies, governments, NGOs, development finance institutions (DFIs). Delivery Associates was founded in 2012 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-15 Esprit ICT

Veenendaal, Netherlands

Esprit ICT is an independent IT & telecoms partner focus on digital workspace, including the underlying infrastructure, connectivity and security. Esprit ICT was founded in 2008 and is based in Veenendaal, Netherlands.

Buy -