Waterland Private Equity

Waterland Private Equity is an investment group that supports entrepreneurs in realizing their growth ambitions. With substantial financial resources and committed industry expertise, the company enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. It acts as an active shareholder in its portfolio companies, playing a key role in their strategic and operational development, growth, and performances. It is a member of the Dutch Private Equity Association (NVP), the Belgian Venturing Association (BVA), the European Private Equity and Venture Capital Association (Invest Europe), the German Private Equity and Venture Capital Association (BVK), the Polish Private Equity Association (PSIK), the Swiss Private Equity and Corporate Finance Association (SECA), and the Austrian Private Equity and Venture Capital Organization (AVCO). The portfolio businesses of the company are Inashco, L'biotica, Keylane, Aevitae, and Base Logistics. The offices of the company are located across the Netherlands, Germany, Belgium, and Poland. Waterland Private Equity is a Netherlands-based company that was founded in 1999.

Florian Behrmann

Investment Manager


Oliver Bevan



Pieter Bukala

Investment Manager


Joy Castenmiller

Senior Investment Manager

Cédric Van Cauwenberghe

Managing Partner


Laura Dillon


Jörg Dreisow

Partner / Chairman Switzerland and Austria


Nicolas D’heygere



Bart Elema



Robin Elley

Investment Manager


William Ford

Associate Principal

Matthias Geyssens

Associate Principal


Tim Goedeweeck

Investment Director

Dominic Graham

Investment Director

Ryan Hallworth

Investment Director


Joep Hendriks

Senior Investment Manager


Gregor Hengst



Louis Huetz


Kaspar Kristiansen



Philippe Moser

Investment Director


Vincent Nykjaer

Senior Investment Manager

Carsten Rahlfs

Managing Partner


Wouter Roduner

Managing Partner


Rinaldo Rosendaal

Investment Director

Hans Scheepers

Managing Partner

Tomas Simons


Robert Thielen



David Torralba Torrents



Frank Vlayen

Group Managing Partner

91 past transactions

International Wellness Resorts B.V. builds and operates wellness centers at resort locations. The company offers medical tourism, hospitality, and land development services. Additionally it offers medical tourism services. The company was founded in 2011 and is based in Emst, the Netherlands. As of May 26, 2016, International Wellness Resorts B.V. operates as a subsidiary of Aspro Parks sl.

Lowen Play

Acquisition in 2006
Lowen Play operates amusement arcades in Germany. The company's amusement arcades offer coin-operated and electronic gaming, and sports and amusement machines that offer entertainment.

Arxes-Tolina GmbH

Acquisition in 2021
Arxes-Tolina GmbH offers state-of-the-art technology solutions in the fields of engineering, IT, software and consulting. The Berlin-based company operates in the fields of IT, software, consulting and engineering. The basis for this success are the highly qualified almost 300 employees, who generate annual sales of approx. 56 million euros. The solutions of arxes-tolina GmbH prove their worth with numerous satisfied customers, including Dax companies, international companies, more than half of the German savings banks, the Sparda Group and many more.


Acquisition in 2021
GOD is an IT service company provides software solutions, individual cloud services and powerful managed solutions.

Debuut B.V.

Acquisition in 2018
Debuut B.V. specializes in restaurants and catering services. The company is based in Utrecht, the Netherlands.

Windrose Finest Travel

Acquisition in 2008
Windrose Finest Travel provides adventurous travel and site seeing services in Germany.

DIDIX Gifting & Promotions BV

Acquisition in 2013
DIDIX develops gifting and promotion products that include BioscoopCadeau and RestaurantCadeau. Boudewijn Jansen founded it in in 2009. DIDIX has its headquarters in Amsterdam in the Netherlands. DIDIX operates as a subsidiary of Blackhawk Network Holdings as of September 14, 2015.

Silver Stream Healthcare Group

Acquisition in 2019
Silver Stream Healthcare Management Ltd owns and manages nursing homes. The company provides residential care for older people. Silver Stream Healthcare Management Ltd was founded in 1993 and is based in Ratoath, Ireland.


Acquisition in 2003
Harting-Bank B.V. manufactures mobility aids and supplies its products to the homecare and associated markets. The company's products include nursing beds and accessories, anti-decubitus tools, lifting and transfer equipments, wheelchairs and other mobility products, shower and toilet aids, fitness and physio-equipment, blood pressure measuring equipment, mobile and portable oxygen concentrator, weighing scales, stools and walkers, cutlery, drinking cups, and mattresses. It also offers services, including maintenance and repair of tools and equipment, resource management, trainings and workshops, financial advisory, and budgeting for the purchase of aids. Harting-Bank B.V. was founded in 1836 and is based in Utrecht, the Netherlands.

Beck et al

Acquisition in 2020
Beck et al. Services is an independent, entrepreneur-owned consulting company for IT projects and services. With their locations in Germany, Switzerland, Romania, Brazil and Singapore, they work internationally. Since 1999, they act as a reliable partner for their customers. Today, around 80 people are working for their customers worldwide. If there is one thing, they have learned in recent decades, then this: Only those who change remain. And such is the story of Beck et al. Services also a story of permanent change.


Acquisition in 2021
YieldKit provides Smart Monetization Solutions for Publishers


Acquisition in 2020
EnviDan's history begins in 1995, when three pioneers in the Danish sewage industry, Jan Tryk, Simon Boel and Søren Brønd, quit their jobs and joined forces to start EnviDan. From the beginning, EnviDan has been characterized by a "high ceiling" culture and has flexibility and co-influence as keywords.

Golf Management Group International

Private Equity Round in 2003
Golf Management Group International acquires, develops, and operates golf courses. It began operation in 2003, with its headquarters in Naarden in the Netherlands.

Sandcastle Care

Acquisition in 2019
Sandcastle Care Ltd. provides residential childcare services based on a therapeutic approach in the United Kingdom. The company was incorporated in 2003 and is based in Blackpool, United Kingdom with residential homes in North West and Cumbria.

P. Lemmens Company

Private Equity Round in 2011
P. Lemmens Company is a Belgian company which specialized in areas related to air movement such as ventilation, heating and air conditioning. The company, which employs a team of 50 people, is at the forefront of airflow technology, and has been for over thirty years.

Scholt Energy Control

Acquisition in 2016
Scholt Energy Control energy supplier to the business market in the Netherlands, Belgium and Germany. With their personal, clear and independent process they have gained a place in the energy market. They are willing to always go the extra mile for their customers. That translates into long-term and successful cooperation based on mutual trust. They are not the biggest but the best.
FleetPro Passenger Ship Management provides passenger ship management services to the river cruise industry worldwide. It also engages in the development and consulting of river cruise projects, management of hotels, restaurants, bars, shops, and onboard entertainment, and decks and engines that include crewing, itineraries, locks and docks reservations, inspections, repair and maintenance, dry-docking, purchasing, and insurance handling. In addition, FleetPro Passenger Ship Management engages in the planning, development, and supervision of new buildings; financing of new ship buildings and pre-owned ships, taking out and handling of insurances and average cases, and supervision and project management of new buildings as well as refits and refurbishments. Further, it provides administrative services for the operation of river cruise ships and/or ship owning companies, ship building/refit, and consulting services. FleetPro Passenger Ship Management began operation in November 2012. It has its headquarters in Basel in Switzerland.


Acquisition in 2021
Bano is a developer, producer and distributor of limited mobility bathrooms, with a focus on nursing homes.

Medhold Medical

Private Equity Round in 2007
Medhold Medical (Pty) Ltd distributes medical equipment to hospitals. The company provides anesthesia, infection control, incubators, warmers, ventilators, cardiology, surgical instruments, theater tables, examination lights, pendants, resuscitation devices, trauma equipment, medical consumables, foetal monitoring and phototherapy devices, and accessories. It offers project management, clinical engineering, and consulting services. The company was founded in 1988 and is headquartered in Gauteng, South Africa.

Priory Group

Acquisition in 2020
Established in 1980, the Priory Group is Europe's leading independent provider of acute mental health care, secure and step down services, specialist education, complex care, and neuro-rehabilitation services, fostering and care homes. With treatments tailored to each individual, whether someone is suffering from mild depression, a severe learning disability or requires long term care, the Priory can help.

Coeo Inkasso Gmbh

Acquisition in 2018
Coeo Inkasso is a specialized collection service provider with a holistic view of the commercial and organizational requirements of your company. We do not only see ourselves as debt collection service providers but also as analysts and consultants and above all as your active companion. Our approach is aligned. We work all over Germany and abroad. We find solutions! Highly automated, event-driven collection processes pick up on changes to the debtor and his environment in order to trigger targeted collection measures by our qualified employees.

Atos Klinik Heidelberg

Acquisition in 2016
ATOS is a group of somatic acute clinics and includes currently four specialized orthopedic clinics in Braunfels, Heidelberg and Munich. The clinics offer renowned high medical quality and combine a total of approximately 250 beds and more than 300 employees. The ATOS group was generated in 2016 by carving out three specialized acute clinics from the MEDIAN group in order to give these successful clinics more room and more focus for their further development.


Acquisition in 2019
EuroParcs is a progressive, private company with an uncompromising commitment to customer service. EuroParcs is principally an internet based company and has invested heavily in state-of-the-art technology to provide customers with the best service and best value in mobile home holidays.


Acquisition in 2019
Rehacon is a provider of physiotherapy services. we have successfully operated physiotherapy practices nationwide and over the years have developed into one of the leading German providers in the field of physiotherapy and rehabilitation with more than 120 facilities.


Private Equity Round in 2021
Fit/One is a fitness studio chain training of superlatives.

Estro Groep B.V.

Acquisition in 2001
Estro Groep B.V. offers child day care services. Estro Groep B.V. was formerly known as Catalpa Holding. The company is based in Amersfoort, the Netherlands.


Private Equity Round in 2015
Intelligent is an international hosting group offering hosting services for SMEs and Large Enterprises. The SME branch of the group accommodates trusted brands such as Combell, Byte, DanDomain and Flexmail. For Large Enterprises the group provides products and services under the names Sentia and ReasonNet.

RHM Kliniken

Acquisition in 2011
RHM Kliniken owns and operates clinics and nursing homes. The company provides rehabilitation and acute care services for somatically and psychosomatically sick patients. The company also provides nursing care services for elderly.

United Petfood Producers N.V.

Private Equity Round in 2016
United Petfood is an exclusive private label producer for extruded dry dog and cat food, biscuits for dogs and snacks; a range of standard nutritional products for cats and dogs; specialty products, which include fresh meat, low grain formulas, grain free formulas, and probiotic formulas in the feed; and baked biscuits in various shapes, tastes, and colors.


Venture Round in 2009
BioMCN are the first company in the world to produce high quality bio-methanol from renewable resources on an industrial scale.

Napoleon Sports & Casino

Acquisition in 2015
Napoleon Games is active in all major segments of the gaming sector. In 2012, the group launched its online gaming and sports betting (both live and pre-match) platform. Customer can play and place bets both through the online website (napoleongames.be) as well as the mobile application. Next to this, Napoleon Games operates the Knokke casino and 22 gaming arcades, of which most are located in Flanders.


Acquisition in 2012
SENIOcare AG operates residential and nursing homes in Switzerland. The company was founded in 1983 and is based in Wattwil, Switzerland. SENIOcare AG operates as a subsidiary of Swiss Prime Site AG. As of October 31, 2015, SENIOcare AG operates as a subsidiary of Tertianum AG.


Acquisition in 2011
VivaNeo operates fertility clinics and reproductive medical centers in Germany, the Netherlands, and Denmark. The company provides advisory services and treatment for fertility problems. Its services include hormone therapies, test-tube fertilization methods (insemination, in-vitro fertilization, and intracytoplasmic sperm injection methods), and surgical measures; medical-technical measures, which include embryoscopy, polar body diagnosis, and blastocyst transfer services; medical measures; and social freezing services for preserving fertility.

Quinity BV

Acquisition in 2014
Quinity BV developing, implementing, and managing critical administrative applications.

Helgstrand Dressage A/S

Acquisition in 2018
Helgstrand Dressage is the equestrian sports companies with modern sales and training centers. “Helgstrand Dressage is a fantastic company with exciting growth opportunities, which we are looking forward to pursuing in the coming years in partnership with management and employees. In a short period of time, Helgstrand Dressage has created a well-run, respected and profitable business, which makes out a strong platform for further development and consolidation in a fragmented and highly attractive market. We look forward to contributing with our practical experience and targeted investments in the existing business as well as driving new markets and interesting acquisition opportunities in line with our strategy of accelerating growth organically and through acquisitions,” says Kaspar Kristiansen, Managing Director, Waterland Nordic.

Famed B.V.

Acquisition in 2004
Famed provides medical factoring services. Its services include billing, collecting claims, debtors’ portfolios management, pre-financing claims, taking over debtors risks, clearing to health care insurers, and outsourcing finances. Famed serves providers in the healthcare and/or welfare sector; and hectic businesses since 1988, with its headquarters in Amersfoort in the Netherlands. It is a former subsidiary of USG People.


Acquisition in 2010
Tastecard a diners club, provides its members with a personalized membership card that provides discount at hotels, fine dining restaurants, entertainment tickets, and days out in the United Kingdom and internationally.


Acquisition in 2005
GlobalCollect operates as payment service provider processing e-commerce payments worldwide. It collects, processes, and reports payments on behalf of third parties, such as product or service providers that sell products and services through the Internet. Jan Manten and Ron Vollebregt founded GlobalCollect in 1994, with its headquarters in Hoofddorp in the Netherlands. It is a subsidiary of Ingenico Group.


Private Equity Round in 2016
HistoGeneX Laboratories is a privately held service provider of biomarker technologies for translational and clinical research and is a CAP, CLIA and BELAC-accredited laboratory. With facilities located in Antwerp, Belgium and Chicago, Illinois, and taking steps to establish a site in China, HistoGeneX provides a networked footprint for global clinical trials. Our services and products stem from a pathology and patient care perspective. We are experts at handling all human biological specimens and deploy the relevant technologies to extract the valuable information contained within for research and diagnostic applications.


Private Equity Round in 2009
Founded in 2005, Enfinity has rapidly grown into one of the world’s largest and most experienced solar PV development companies; they are active in 20 countries across the globe and have been selected to build some of the largest projects in North America, Europe and Asia Pacific. There breadth and depth of experience ensures that they can seamlessly finance, develop and deliver even the most complex renewable energy projects for there customers. In the US, Enfinity provides turnkey solar solutions for commercial, municipal and utility customers. They do this by crafting best-in-class approaches for the delivery of clean energy systems.

HealthCity International

Private Equity Round in 2005
HealthCity International owns and operates sports and fitness clubs across the Netherlands, Germany, Luxembourg, France, Italy, Spain, and Belgium. It offers HealthCity clubs, offering BasicFit and, HealthCity Premium. The facilities include tennis and squash courts and swimming pools. It also provides childcare and sauna facilities. HealthCity International began operation in 2000, with its headquarters in Hoofddorp in the Netherlands. It operates as a subsidiary of Leisure Group Europe.

Aminolabs SA

Acquisition in 2015
Development and production of innovative concepts in sports & health supplements As a manufacturer of dietary supplements, they are the supplier of many internationally renowned companies in sports and health nutrition. With their combination of innovative concepts and a flexible yet high-quality production they produce private label products that are convincing. Consumers around the world enjoy the products that are developed and produced at their facility in Hasselt, Belgium. They produce both sports and health supplements. You can think of nutritional sport products like protein and diet shakes, weight gainers, post-workout products and energy shots. Aminolabs is also a manufacturer of health products such as multivitamins, minerals, glucosamine, omega 3 and other combinations for specific purposes such as slimming, beauty and pre- and post-birth mixes. But they can do more, they also supply creams, gels, lotions and mousses. That’s how they can offer you the full spectrum of private label supplements. They understand that a dynamic market calls for innovative designed concepts to meet your requirements and those of your consumers. That’s why they make it their business to know all about the trends that keep you in shape. Because they strongly believe that this makes a crucial difference in creating tailored concepts to meet new demands in your market. Let us be your strategic partner in health and sports nutrition, to support your success.

Unimar NV

Private Equity Round in 2014
Unimar NV is a leading player in the development and distribution of deep-frozen products for the bakery sector. It specialises in bake-off products (deep-frozen products in particular), with distribution in both the retail and wholesale sectors and in food services.


Acquisition in 2007
Indicator BV is a publisher of professional newsletters and books aimed at small and medium-sized companies and self-employed entrepreneurs.

IPCOM n.v.

Acquisition in 2010
IPCOM engages in the distribution and conversion of insulation materials thermal, acoustic, and fire protection applications in Europe through its subsidiaries. It offers building insulation products that include XPS, EPS, PUR, PIR, Resol, glass wool, stone wool, cellular glass, and other related products; technical insulation products, such as slabs, wired mats, lamella mats, mineral wool pipe sections, poly ethylene/elastomeric tubes and sheets, ceramic wool, PIR pipe sections, cellular glass, etc.; passive fire protection products, including panels, boards, shots, collars, sealing systems, and wraps; acoustic insulation products that include sound insulation, sound absorption, vibration damping, and anti-drumming solutions; and high temperature resistant products. IPCOM also manufactures fire proof bulkheads, fire resistant door systems, and ceilings for inland and ocean-going passenger vessels. It serves automotive, public transport, marine, construction, air treatment, OEM, process/domestic appliance, ferrous/non-ferrous, energy, and ceramic industries. It began operation in 2010. It has its headquarters in Merelbeke in Belgium.


Private Equity Round in 2006
Optisport, market leader in the development and management of sports and leisure accommodations, such as swimming pools, sports halls, ice rinks and fitness facilities throughout the Netherlands. At the moment, approximately 2000 employees work at the more than 300 accommodations. We are active in more than 75 municipalities. Optisport is characterized by an open, driven and enthusiastic corporate culture. For clients, we are a reliable and professional partner that offers sustainable and efficient solutions.

MEDIAN Kliniken

Acquisition in 2014
MEDIAN is a modern healthcare company with currently 78 rehabilitation clinics, acute care hospitals, rehabilitation facilities at 48 locations in Germany. With approximately 13,000 employees and more than 13,500 beds or treatment places MEDIAN is one of the leading healthcare companies. currently benefit each year more than 195,000 patients and residents of the therapy experience and the high quality standards of the group.

Golden Bytes

Private Equity Round in 2004
Golden Bytes offers a full interactive service package. This extensive portfolio of services includes SMS Gateway Services, IVR Services, Data-routing Services and Graphic (on screen) Solutions / GFX Software. Golden Bytes specializes in the development, implementation, and exploitation of text messaging and IVR related mobile services.


Acquisition in 2020
Modstrøm provides electricity and advises on energy improvements, and the company furthermore performs energy saving projects and sells energy saving products to consumers and businesses.

Omega Pharma

Acquisition in 2012
Omega Pharma engages in the development and sale of prescription-free health and personal care products to pharmacies and other medical sectors together with its subsidiaries. It offers personal care products for face and body, sun care products, and baby-specific products under the Bodysol/Galenco, ACO, Lactacyd, Claire Fisher, Bergasol, and Biodermal brand names; and medicated skin care products for various skin conditions and allergies under the Dermalex, Septivon, and Wartner brands. Omega Pharma also provides cough and cold products, and allergy products, as well as aromatherapy and homeopathic solutions under the Bittner/Aflubin, Prevalin/Beconase, Physiomer/Libenar, and Phytosun brand names; and anti-parasites under the Paranix and Jungle Formula brands for human, as well as Paravet/Clément-Thékan brand name for pets. In addition, it offers vitamins, minerals, supplements, and natural remedies under the Davitamon, Biover, Abtei, Granufunk and Bional brand names; weight management products under the XLS and XLS Medical brands; pregnancy tests and self-diagnostic products under the Predictor brand name; pain relief products under the Solpadeine and Optalidon brands; eye care products under the Opticalm(ax) brand; and sleep aid products under the brand names of Silence and Nytol. Omega Pharma primarily operates in Europe, Turkey, Australia, Argentina, and South-Africa. Marc Coucke and Yvan Vindevogel founded it in 1987. Omega Pharma has its headquarters in Nazareth in Belgium. It operates as a subsidiary of Perrigo Company.

Premium Exhibitions

Private Equity Round in 2015
Premium Exhibitions organises the international fashion trade shows.

Ranger Marketing & Vertriebs

Acquisition in 2010
Ranger Marketing & Vertriebs is an European company for personal customer advice.

Diversi Foods NV

Private Equity Round in 2014
Diversi Foods produces and markets frozen and fresh bakery products for the bakery sector. It offers products directly and through wholesalers in Belgium and West European markets. Robert Huygh Diversi Foods in 1989, with its headquarters in Erpe-Mere in Belgium. Diversi Foods operates as a subsidiary of Columbus Container Services as of February 18, 2018.

Fagron SA

Post in 2016
Fagron is the global pharmaceutical compounding company, bringing customized pharmaceutical care to hospitals, pharmacies, clinics and patients in 34 countries worldwide.

Joh. Leupold

Acquisition in 2020
Joh. Leupold is a German producer of packaging and sales displays. The company produces about 1.5 million state-of-the-art packaging items each day and supplies both national customers as well as renowned international customers in the US and France, including numerous branded goods enterprises.

JVH gaming & entertainment

Acquisition in 2008
JVH gaming & entertainment operates casinos in the Netherlands. It offers a combination of casino, electronic casino, amusement, restaurant, hotel, and party and event facilities; and provides games, such as roulette, poker, blackjack, bingo, and more.


Acquisition in 2009
A-ROSA is an operator of river cruises in Europe, on the Rhine, Danube and the Rhône/Saone. The company employs approximately 600 people and has a state-of-the-art fleet consisting of 11 river cruise vessels. The European river cruise market offers significant growth potential: organically, driven by the ever-increasing spending on recreational activities, as well as a demographically-induced expansion of the target group of 50+, and also growth through acquisitions in consolidating this highly fragmented industry.
Integrated Medhealth Communication is an independently owned global medhealth consultancy that creates revolutionary solutions with inspiring outcomes as a result of a synergistic approach between its five divisions: Medical & Scientific, Digital & Design, Insights & Consulting, Patient Engagement, Meetings & Events. Our solutions are for pharmaceutical, biotech and medical device companies as well as patient advocacy groups and scientific organisations. imc harnesses a unique approach to deliver its solutions. This involves the amalgamation of scientific data, external stakeholder insights, an understanding of the healthcare regulatory environment, digital innovations and creativity to drive behavioural change and enhance patient health.


Private Equity Round in 2008
Aevitae is provides health insurance and employee benefits solutions. It offers tailor-made insurance arrangements for employers of various companies and institutions.


Acquisition in 2008
GolfRange owns and operates golf courses in the main German conurbations which include Munich, Hamburg, and Dortmund. It began operation in 2008. GolfRange has its headquarters in Germering in Germany. GolfRange operates as a subsidiary of Murhof Holding as of November 8, 2012.

Bosteels Brewery

Private Equity Round in 2014
Bosteels Brewery, a brewery, produces beer and sparkling wines for customers in Europe. Its products include kwak, Tripel Karmeliet, and DeuS beers. Bosteels Brewery began operation in 1791, with its headquarters in Buggenhout in Belgium. Brouwerij Bosteels operates as a subsidiary of Anheuser-Busch InBev as of September 8, 2016.

Heliox BV

Acquisition in 2018
Heliox is dedicated to transforming inspiring ideas into innovative and reliable power products and services on the basis of intensive R&D and close collaboration with our commercial partners. They have been delivering customized products and services for customers in a range of industries since 2009. Their solutions for operators of electric vehicles are the result of intensive research and years of practical experience in designing and producing cutting-edge charging technology.

Base Logistics

Private Equity Round in 2016
Base Logistics is a logistics service provider, with the focus on Transport Management, Warehouse Management and Data Management. We offer an international network of transport and warehousing partners, combined with a team of logistics specialists and a unique logistics application. Our aim is to make logistics simple, efficient and controllable for our customers. Within our company, innovation is the highest priority, especially through making smart use of IT possibilities.

Cawood Scientific

Acquisition in 2019
Cawood Scientific provides analytical services to businesses in the food and environment sectors in the United Kingdom. Its analytical capabilities encompass in various aspects of air, water, soil, and plant tissue, as well as inputs for plant growth and livestock production. The company provides analysis for various sectors, including agriculture, horticulture, environment and waste, forestry, construction, amenity, and sports turf companies. Cawood Scientific was formerly known as Natural Resource Management, Ltd. The company is based in Bracknell, the United Kingdom. Cawood Scientific is a former subsidiary of Sensortec, Ltd.

direkt gruppe GmbH

Acquisition in 2020
direkt gruppe has been impressing its customers since 1998 with its high-quality innovative consultancy and service portfolio. Their group of companies offers a comprehensive range of services for IT, communications and marketing. They support their customers in increasing their capacity for change through consulting and implementation in the areas of technology, processes, organization, communication and culture.


Private Equity Round in 2016
L’biotica is engages in the production and distribution of dermo-cosmetics and cosmoceutics. The company offers products in the areas of conditioners, shampoos, spray conditioners, and dry shampoos; serums; home spa products, such as hydrogel masks, sheet masks, glove hand masks, sock foot masks, eye patches, and stripes for skin imperfections.

Kredyt Inkaso S.A.

Acquisition in 2016
Kredyt Inkaso Capital Group is one of the leaders of the debt management services market in Poland. For over 10 years, he has been cooperating with leading banks and telecommunications companies in Poland. The company's operations center is located in Zamość. We employ nearly 200 people in Poland. Kredyt Inkaso, acting on the basis of an investment fund model, specializes in the purchase of large debt portfolios recognized by the original creditors as difficult to recover and in seeking their payment on its own account.


Acquisition in 2009
Intertrust is a global leader in providing expert administrative services to clients operating and investing in the international business environment. The Company has more than 2,500 employees across 40 offices and 29 jurisdictions in Europe, the Americas, Asia and the Middle-East. Intertrust has leading market positions in selected key financial markets, including the Netherlands, Luxembourg, Jersey and the Americas. Intertrust delivers high-quality, tailored corporate, fund, capital market and private wealth services to its clients. Company Specialties: Corporate Client Services, Fund Services, Capital Markets Services, and Private Wealth Services.


Acquisition in 2015
Inashco has taken a leading role in providing a solution for the further upgrading of mineral fractions by decreasing metal contaminations to minimal levels. While producing mineral products with attractive characteristics for the building and construction industry, the extracted metals are efficiently upgraded into valuable metal products. These metals would normally end up with the bottom ash in landfills or as low grade filling material in construction projects, forming an environmental hazard with regards to groundwater and air pollution. Together with the growing social and political awareness of environmental issues, the closed loop recycling service of INASHCO brings substantial ecological and economical advantages to the industry.


Private Equity Round in 2016
Infradata is a Network Integrator dedicated to supply, implement and maintain Next Generation Networks for Service Providers.

Gas Tag Ltd

Private Equity Round in 2018
X Tag develops a gas safety platform for housing associations, private landlords, registered engineers, and homeowners. The company offers Gas Tag, an application that enables only registered engineers to log in, complete all works, time/date stamps records, geo-tags the engineers to prove that they are on-site, and helps to stop unregistered gas fitters from recording any work through the system.


Private Equity Round in 2010
Mauritsklinieken provides a range of dermatology care services through five sites in the Netherlands. Mauritsklinieken is an independent outpatient clinic specialising in dermatology and phlebology. Since its establishment in 2004, the organisation has grown to become one of the largest outpatient clinics for dermatology in the Netherlands, with five branches in The Hague, Utrecht, Amsterdam and Nijmegen. Mauritsklinieken focuses on treating skin diseases and varicose veins and provides both insured and uninsured health care services. All locations are designed based on the same formula, in which the patient and the provision of high-quality care in small-scale organisations is the point of focus. This is reflected in high customer satisfaction.

Ballast Phoenix Ltd.

Acquisition in 2015
Ballast Phoenix Ltd. produces incinerator bottom ash aggregate (IBAA) from the residual incinerator bottom ash left in an energy from waste plants for use in various construction applications. Its IBAA is used in unbound/hydraulically bound mixtures, road pavements (bituminous bound mixtures), and concrete, as well as used as a classified fill and capping. The company was incorporated in 1996 and is based in Bourne, United Kingdom. Ballast Phoenix Ltd. is a former subsidiary of Recycling Maatschappij Feniks B.V.

Pay For People

Private Equity Round in 2015
Pay for People offers its customers HR BPO services, including back-office payrolling for temporary staffing firms and (direct) payrolling services for companies and freelancers. With a proprietary, entirely in-house developed IT system and web portal, Pay for People is able to payroll a very large number of employees successfully and efficiently for its customers (temporary staffing firms, corporates, SMEs and freelancers) and to manage all related administrative processes. Pay for People was founded in 1998 by Wouter Veer and has offices in Rotterdam, Amsterdam and Heerenveen.

Hanse Orga

Private Equity Round in 2016
Hanse Orga, founded in 1984, is an independent software and consulting firm for treasury management and bank reconciliation solutions. In addition to its headquarter in Hamburg, Hanse Orga also has subsidiaries in France, Switzerland, the Netherlands, the US, UK, Spain and Hong Kong. Since its foundation, Hanse Orga pursues the strategy to develop intelligent software solutions for treasury and accounting that help automate and standardize corporate financial processes – with great success. Their solutions can be deployed across all industry sectors. Today, they have over 1.000 large and medium-sized companies in different industry sectors world-wide amongst their customers.


Private Equity Round in 2017
Jibes offers software to enable end-users to create enterprise mashups and situational applications. Mixing enterprise data with external/internet data to create new applications is a key feature of Jibes mashup software.

Nuts Groep

Private Equity Round in 2017
Nuts Groep is supplying electricity and gas to connection points in the Netherlands and Belgium. The Nuts Groep supplies various brands with energy at low prices and without hassle. This requires scale. That is why Nuts Group strives to consolidate energy companies in the Benelux, in addition to organic growth. The company now has around 600,000 customers in the Netherlands under the labels 'Budget Energy' (www.budgetenergie.nl) and 'NLE' (www.nle.nl), and more than 100,000 customers in Belgium under the label 'Elegant' (www.elegant.be). Before 2020 the Nuts Group wants to break through the border of 1 million customers. In 2018 the company will invest more than € 800 million. The Nuts Group is 50% owned by investor Waterland.

Attero B.V.

Acquisition in 2014
Attero B.V. is an innovative force in the production of recovered raw materials and sustainable energy. Our roots lie in the large-scale processing of household, organic and mineral waste. Based on our social responsibility, we devote all attention to possibilities for reuse, the generation of sustainable energy from waste streams and environmentally-conscious management of landfills. In doing so, we constantly search for new solutions.

Swyx Solutions GmbH

Venture Round in 2018
Swyx develops communication software specifically tailored for small to medium sized companies (SMEs). SwyxWare is installed on a Microsoft ® Windows ® Server and brings together the complete communication needs of a company, in a single user interface. The classic telephone system is now redundant - all required communication functions run over your existing IP network, which offers all the advantages of integrated, unified communications (UC) in addition to traditional telephone services. This software approach and the easy expandability of SwyxWare, means that users are prepared for today, but also for the future.


Acquisition in 2012
Keylane is a European supplier of modern, customer-centric, SaaS software to the insurance and pension industry. Their in-depth knowledge and expertise allows us to help their clients transform the way they run their day to day technology and operations. By implementing their state of the art solutions they help companies to reduce cost, deliver new and innovative products to market fast and increase customer satisfaction. Keylane's products include modular non-life, life and pension solutions for support of all core processes. Headquartered in Utrecht in the Netherlands, Keylane employs over 600 people and delivers services to over 100 Insurance companies across offices in Belgium, Germany, the Netherlands, Norway, Sweden and the UK.

Swyx Solutions GmbH

Acquisition in 2018
Swyx develops communication software specifically tailored for small to medium sized companies (SMEs). SwyxWare is installed on a Microsoft ® Windows ® Server and brings together the complete communication needs of a company, in a single user interface. The classic telephone system is now redundant - all required communication functions run over your existing IP network, which offers all the advantages of integrated, unified communications (UC) in addition to traditional telephone services. This software approach and the easy expandability of SwyxWare, means that users are prepared for today, but also for the future.


Acquisition in 2015
Infradata is a Network Integrator dedicated to supply, implement and maintain Next Generation Networks for Service Providers.

Verbraeken Infra NV

Acquisition in 2010
Verbraeken Infra builds and renovates utility infrastructure networks for gas, water, electricity and telecom companies. Vebraeken-Infra generates sales of € 140 million annually, with 1.000 employees across Belgium, France and Germany. Waterland supports Infra Group in its continued expansion in Europe and beyond. This growth strategy resulted in expansion of Verbraeken-Infra’s footprint both organically as well as through acquisitions in France, Germany and the Benelux and has strengthened Verbraeken-Infra’s leading market position in Belgium.


Private Equity Round in 2011
Sarens has been providing heavy lift, engineered transport and specialized rigging services for 60 years, building a thriving global enterprise that today operates in over 60 countries and on 6 continents. Our work is based on a rigorous understanding of the industries we serve. Whether it’s transporting turbine rotors at a nuclear power plant, relocating a tunnel boring machine or providing engineered lift and transport solutions for accelerated bridge construction, we have the resources and the knowledge to provide innovative solutions.

binary GmbH

Acquisition in 2020
binary is a private cloud specialist for medium-sized customers. The company operates its own state-of-the-art, certified data center in Germany as well as partner locations for the purpose of geo-redundancy. Binary is thus able to provide complete operating models in the private cloud sector with a focus on scalable and tailor-made solutions. binary operates its own 24/7 service desks that offer support and advice right down to the end user.

Otravo B.V.

Private Equity Round in 2016
Otravo stands for Online Travel Organization and is the market leader in the Benelux for (online) sale of air travel. Both through self-service and personal control all travelers to their global air travel, both online and offline, both business and private. Otravo has the widest range of global flights, rental cars, hotels, sun holidays to all possible combinations of dynamic travel.

Senior Living Group

Acquisition in 2004
Senior Living Group is operates residential care and nursing homes Belgium.


Private Equity Round in 2017
Enhesa is the market leader in global environmental, health and safety compliance assurance providing support to businesses worldwide. We leverage our comprehensive knowledgebase of regulatory expertise utilizing our in-house team of over 75 dedicated EHS regulatory analysts from more than 40 different countries to provide insights and analysis regarding EHS regulatory developments from around the world. Enhesa provides this key regulatory intelligence for over 200 jurisdictions in both an easy to understand and utilize manner.


Private Equity Round in 2009
Arseus is a R&D scientific company delivering innovative solutions and concepts to professionals and institutions in the healthcare sector in 30 countries worldwide. Arseus is subdivided into three divisions: Fagron is global market leader in pharmaceutical compounding. Corilus develops and supplies unique integrated ICT solutions with substantial added value to medical specialists and is market leader in Belgium, France and the Netherlands. The Belgian company Arseus NV is located in Waregem, and is listed on NYSE Euronext Brussels and NYSE Euronext Amsterdam. The operational activities of the Arseus group are driven by the Dutch company Arseus BV. The head office of Arseus BV is located in Rotterdam.