Vortex Capital Partners and MyBit join forces as platform for Dutch software makers

Description

Custom software developer MyBit from Hilversum and investment company Vortex Capital Partners have signed a partnership to combine, under the name of MyBit Group, the strengths of several Dutch custom software companies.

MyBit and Vortex aim to build a strong group through a buy-and-build strategy, thereby strengthening the Dutch software development sector. The addition of DSE Software from Beverwijk will create a reliable IT partner of stature that can assist customers in almost all sectors in the Netherlands in developing business-critical software.

BDO M&A guided the transaction by performing the financial, tax and employment law due diligence. Also, the BDO Debt Advisory team of BDO M&A, Vortex and MyBit Group assisted in obtaining the transaction financing. The financing was provided by ING Bank and has competitive terms and rates. The financing structure also includes an acquisition facility to support MyBit Group's buy & build strategy.

About MyBit
MyBit, founded in 2007, is located at the Media Park in Hilversum and has 70 employees. With experienced development teams, MyBit creates customized software for its partners within various verticals such as healthcare, government, energy, education and retail. In addition, MyBit provides management services, DevOps services and hosting services. Because of its development activities, MyBit is active in the core processes of its customers and thus an elementary partner.

About Vortex Capital Partners
Vortex, founded in 2012, is a specialized investor focused on software, Internet and tech-driven companies. The investment fund focuses on small and medium-sized companies with high growth potential (both organic and acquisitive). The team combines broad entrepreneurial experience with deep technical expertise to support ambitious entrepreneurs and management teams as active partners in realizing their growth ambitions.