Claassen,Molenbeek & Partners accompanies Secuvita in its sale to global player Tunstall

Description

Secuvita is one of the leading providers of home care technology in the Netherlands. In an increasingly fast-moving world, Secuvita provides innovative solutions that enhance the quality of life for clients, patients and residents. In June 2021, the English business Tunstall acquired a 100% stake in Secuvita.

Tunstall is a leading global provider of services and technology for the telehealth and healthcare sector. This acquisition offers Secuvita the opportunity to expand even further and to continue providing its clients with groundbreaking technology solutions. Ed Jansen Venneboer, partner of Claassen, Moolenbeek & Partners guided Secuvita through this special deal.

The director/owner of Secuvita, Patrick Gaasbeek, decided to sell his company when it entered a new growth phase in 2020. Managing such a change process is not a challenge for Patrick, he prefers to focus on technology and developing appropriate solutions for the well-being of home care residents. Joining a strong strategic party and no longer having to take responsibility for the entire company would be the ultimate solution.

Deal team for Secuvita, online working method

"This was my first acquisition that took place entirely through Teams," says Ed. As a business acquisition adviser, he has been involved in the acquisition process from the very first moment and has guided the entire process. The corona pandemic meant that negotiations were only possible remotely. Considering the different nationalities (English, French and Dutch) and cultures of the parties involved, it can be safely said that the acquisition process was a challenge. For the legal process, Marjolein van Leeuwen and Margreet Diemel of JPR Advocaten were called in. Thus, with these M&A specialists, an excellent and experienced deal team was formed.

The business transfer process: from analysis to best deal

In the lead-up to the deal, Ed provided, among other things, a business analysis and valuation and drafted an information memorandum. "It is important to deliver the business information as accurately as possible to a potential acquisition candidate," he continues. "After the agreement in principle is recorded in an LOI, it is then important for the buyer to conduct proper due diligence. By correctly assessing the outcome of this investigation and thanks to the good mutual cooperation between the team and seller, we were able to achieve the best possible deal for Patrick."

An acquisition process is not limited to office hours. Gaasbeek: "The daily work just went on, and it was nice that I could put all the questions that came to me during the day to the team in the evening." Marjolein van Leeuwen adds: "Even the closing ran out until after midnight. But we like to do that. Because we are also available outside office hours, the customer does not have to lie awake with their concerns, but we can take them away immediately and take action. We think that's only logical."

Van Leeuwen: "An acquisition process is teamwork. Not only between the lawyer and the client, but also with advisers, like Ed. We all had the same goal in mind: to achieve a good deal for Gaasbeek. And thanks in part to our pleasant and constructive cooperation, that goal was absolutely achieved!"