IRIS Corporate Finance - Port People

Description

DHG, through a newly established purchasing holding company, has purchased 100% of the shares of M.P.S. Personnel Services B.V. from Peinemann Mobilift Group B.V. and the shares of VPR Detachering B.V. and Uitzendbureau VPR B.V. IRIS CF advised DHG in this transaction and also arranged the transaction financing.

The acquisition of MPS was realized simultaneously with DHG's acquisition of 100% of the shares of VPR Detachering B.V. and Uitzendbureau VPR B.V. The combination of these three businesses has created a highly profitable temporary employment group with a focus on logistics personnel working in the port of Rotterdam. Around 300 workers are employed daily through the group in the Rotterdam-Rijnmond region. After integration into one group under the name Port People, the ambition is to further grow the combination (autonomously and through acquisitions).

DHG
DHG invests in real estate and has built up a portfolio with a value of approximately €400 million, in addition the company develops high-quality real estate projects. In addition to its real estate activities, DHG is active as an investor in logistics and port-related businesses. DHG aims to further expand its portfolio of holdings in this segment.

Peinemann
From its headquarters in Hoogvliet, Peinemann is active in the rental and sale of cranes, forklifts, aerial work platforms, equipment. Peinemann also provides related services such as temporary staffing, equipment service and maintenance. With revenues of around € 100 million, Peinemann is one of the larger players in this field in the Netherlands. The secondment and temporary employment activities of the subsidiary M.P.S. Personnel Services B.V. were not considered core business, which led Peinemann to decide to sell this business unit to DHG.