Strikwerda Investments, a company that in recent years through its companies Total Webhosting Solutions (TWS) and Total Specific Hosting (TSH) absorbed many hosting companies in the Netherlands and Europe in a broader sense, has through TSH taken a majority stake in Eshgro, a prominent Dutch player in the field of Microsoft365 Cloud technology.
This transaction would provide Eshgro the opportunity to pursue a long-term buy-and-build strategy with the ambition to become the Microsoft 365 Cloud provider for mid-sized organizations in the Netherlands. Eshgro will receive support from the TSH organization and permanent capital from Strikwerda Investments to shape the next phase of growth and realize follow-up acquisitions. This would further accelerate the growth path for customers and employees.
Together, Eshgro and TSH employ over 850 people. Eshgro would generate sales of nearly 200 million euros with approximately 250 employees. Financial details of the transaction were not disclosed. The transaction is subject to approval by Dutch regulator, Autoriteit Consument & Markt (ACM).
“This acquisition is a logical next phase of growth for our company. Our strategy is to combine organic growth with acquisitions in adjacent market segments, further expanding our portfolio and customer base,” said Edwin de Ruijter, CEO at Eshgro. “We are therefore specifically searching for organizations who are looking for a partner to enable the transformation to the cloud that we can help accelerate with our self-developed Smarter365 platform. In this way, even more customers will be able to use Eshgro’s proven cloud solutions. Our entire management team will continue in their current roles to realize this next step.”
Strikwerda Investments is an investment vehicle of the Dutch Strikwerda family that achieved its first successes in the Dutch ICT industry more than 22 years ago with the IPO of Tas Group in 1998. The family investment company focuses on healthy, ambitious, medium-sized and large SME companies. Strikwerda Investments is the majority shareholder in the ICT outsourcing company TSH and will become so through this transaction also in Eshgro. TSH has a long-term investment horizon and, in addition to the current strong organic growth, also wants to have other leading ICT outsourcing companies join the group.
“Eshgro has proven to have a strong approach to bring and accelerate clients to the Microsoft cloud through their Smarter365 Platform,” said Joris Dierick, CEO/CFO at Total Specific Hosting. “The joining of forces additionally allows the other companies within TSH to benefit from the partnership. Edwin and his team are a welcome addition to our team of ambitious entrepreneurs. In addition, Anton Loeffen, founder of Eshgro, in his new role as Chief Technology Officer of TSH, will help our company accelerate the next steps towards the public cloud and the rollout of the modern workplace, allowing us to serve our customers even better in the future.”
Strikwerda Investments is taking over the majority share from Amsterdam-based investment company Holland Capital. OCOM, the parent company of the international hosting provider Leaseweb, is also said to be an investor in Eshgro. Exactly what that investment looks like and whether it also involves share ownership is not mentioned. Nor is it mentioned whether, and if so, which other shareholders are involved. However, both Eshgro and TSH speak of an acquisition and incorporation into the family of brands of TSH.