H2 Equity Partners is pleased to announce that it has agreed to sell Myler to Headfirst Source Group. Myler is a tech-enabled IT search & managed service provider (“MSP”) platform which connects blue chip clients with large project-based IT needs with over 40,000 independent IT professionals and hundreds of suppliers of IT specialists. Myler sources, facilitates and manages the flexible IT projects layer for its clients, taking over all related administrative processes and ensuring 100% compliance with all applicable regulatory and fiscal requirements. The company’s tech-enabled business model is highly scalable and results in attractive recurring business on the back of a large and growing portfolio of contracts. H2 acquired a majority stake in Myler in 2015 immediately followed by the bolt-on acquisition of Jenrick which was subsequently integrated into the Myler organisation. Headfirst Source Group is a leading Dutch player in the sourcing of external professionals including matchmaking, contracting and payrolling.
Geo van der Wilk, CEO of Myler, commented: “We are thankful for the collaborative partnership with H2 over the last years. With the support of H2 we were able to turn Myler into the most scalable and state-of-the-art IT staffing platform in the Benelux market with attractive growth and profitability. We are also delighted to become part of Headfirst Source Group. We believe the companies fit very well together and will form a strong group that can deliver even better service and opportunities to our customers, professionals and other partners.”
Harmen Geerts, the responsible Partner at H2 Equity Partners, commented: “Myler is another example of our ability to build better companies. We would like to thank the management of Myler for their leadership over the past years; it was a pleasure working with them. We are convinced that Headfirst Source Group and Myler form a great combination. We wish them lots of success going forward.”
Closing of the transaction is subject to the approval of the ACM.
Myler and the selling shareholders were advised by Lincoln International (M&A), Houthoff (Legal), Deloitte (Financial/Tax) and SIG (IT).
For more information, please see the press release from Headfirst Source Group.