Specialized flex & secondment organization

The business is an established staffing and secondment organization with a two-sided business model: a private branch focused on staffing in agribusiness, food, technology and logistics and a public branch focused on secondment to municipalities and government organizations. Both segments run on one operational backbone (recruitment, CLA administration, remuneration).

Organization
The organization serves a mixed portfolio of blue-chip MSP partners, municipalities and specialist industrial clients, supported by a long tail of 100+ active client relationships. Consolidated revenue grew from approximately €6.0 mn (FY2023) to €7.6 mn (FY2025), while adjusted EBITDA margin increased from ~15.5% to 19.5% over the same period.

Investment highlights.

• Proven dual-segment model. Two complementary branches (public and private) on one operational backbone, with demonstrable scalability and sector spread.
• Strong operating leverage. Revenue +12% in FY25 yielded reported EBITDA +69%; adjusted EBITDA margin increased from ~15.5 (FY24) to 19.5% (FY25) due to rate increase and mix-shift to higher-margin secondment.
• Cash-generating business model. €1.4 mln liquid assets per Q1-2026, no interest-bearing debt, structural negative working capital and short cash-conversion cycle (~19 days).
• Robust customer base with blue-chip anchor. Top-1 customer under 14% of consolidated revenue; multi-year framework contracts in the public branch (2+1+1) and an ongoing MSP relationship with a leading international staffing party in the private branch.