HeadFirst Group, the leading HR-tech service provider for professionals in the Benelux, announces it has reached an agreement with IceLake Capital to join as the new investor to enable expansion of HeadFirst Group in Europe.

HeadFirst Group delivers a suite of HR services that tailor to the needs of large and mid-size enterprise clients in the private and public sector, with over 20,000 highly skilled professionals active daily. The company has a proven track record of strong organic as well as M&A growth, doubling its size over the past two years to over two billion revenue today. Also HeadFirst Group’s core market segments Managed Service Providers (MSP) and sourcing of STEM-profiles, continue to show positive momentum. With an established presence in the Benelux, the company sees ample opportunities to expand in Europe. With IceLake’s commitment, there is solid financing in place to realize these ambitions.

Financing for growth
In IceLake, HeadFirst Group has found a pragmatic and very ambitious shareholder that suits the company and its entrepreneurial culture. IceLake was founded by experienced private equity professionals and entrepreneurs who have extensive experience with building and growing companies. IceLake’s initial investment is part of a broader funding commitment towards the HeadFirst Group international M&A roadmap.

Han Kolff, Chairman of the Board of HeadFirst Group, said: “We are very pleased to welcome IceLake as a strong financial investor, next to our existing financing partner Kartesia and our founders. It is testament to the great achievements of our employees in professionalizing our organization and realizing solid growth in the past years. Having IceLake on board, we will be able to realize our strategic goals across Europe.”

Bastiaan Hagenouw of IceLake added: “We are very excited to back HeadFirst Group, as we appreciate how they have developed into a company with a unique and market leading position in the HR services space. We look forward to work with their experienced board and management team to realise their ambitions and providing its innovative, value-added solutions to an even wider range of clients, suppliers and professionals.”

Jean Diercxsens, Director at Kartesia, agrees: “We have seen HeadFirst Group more than double in size and profitability during the two years that we have been involved as financial sponsor and remain committed to be part of this journey. Kartesia is delighted with IceLake as the new investor, which will allow HeadFirst Group to pursue its profitable growth and international expansion.”

The transaction is subject to customary competition approvals.

About HeadFirst Group
HeadFirst Group is a leading, international HR-tech service provider and the largest platform for professionals in the Netherlands. The organization offers a wide range of HR solutions, such as Managed Service Providing, Recruitment Process Outsourcing, IT Sourcing & Recruitment and HR consultancy. Daily, more than twenty thousand professionals work for over five hundred clients in Europe, with which HeadFirst Group realizes an annual turnover of over two billion euros. The main brands of HeadFirst Group are MSP (including intermediary services) labels HeadFirst, Between and Staffing Management Services, RPO and recruitment specialist Sterksen and IT talent sourcer StarApple.

About IceLake
Icelake is a private equity firm which focusses on partnering with entrepreneurs and management teams to support their (international) growth ambitions.

About Kartesia
Kartesia provides bespoke credit & capital solutions to leading mid-market companies headquartered in Europe. The group manages over EUR 5 billion and operates out of local offices across Europe.