Transaction 8 February 2016

Royal Reesink announces that it has reached conditional agreement on a proposed offer for Reesink by a consortium led by Gilde Buy Out Partners, valued at EUR 140 million. The consortium commits to the continuation of Reesink’s buy & build strategy, like it has been successfully executed with the support of Project Holland Fonds. Being the largest shareholder with a 16,7% stake, Project Holland Fonds has irrevocably committed to support the offer. Project Holland Fonds regards this public-to-private transaction as a logical next step for Reesink and also as the proper moment to divest its shareholding.                                                                                                                                                                                

• Press release: Recommended offer for Reesink by a consortium led by Gilde Buy Out Partners

Transaction 4 January 2016

NedSense enterprises nv has reached agreement with Ronglian Investments Ltd, a US-based investment firm, on the sale of NedSense’s LOFT division, for a purchase price of EUR 8 million. LOFT generated revenue of EUR 0,5 million in 2014. The proceeds will primarily be used to repay outstanding debt and for a dividend to shareholders. Project Holland Fonds, largest shareholder of NedSense, supports the divestment and has agreed to vote in favour of the transaction. Following the sale of NedGraphics for EUR 7,5 million in 2014 and LOFT for EUR 8 million in 2016, NedSense will no longer have any operational activities.                                                                                                                                                                        

• Press release: NedSense has reached agreement on sale of LOFT division
• Press release: Value8 announces public bid on NedSense

Transaction 25 augustus 2015

Reesink announces the acquisition of Agrometius, a distributor and service provider of technology for the high-growth market of precision farming. To finance this acquisition, and for other corporate purposes, Reesink is executing a private placement for 9,99% of its outstanding share capital. Project Holland Fonds has provided a pre-commitment for this equity issue and supports the company in its decision to move its current Alternext stock market listing to a listing on the big board of Euronext Amsterdam early 2016.

• Press release: Semi-annual results, agreement on Agrometius acquisition, listing on Euronext Amsterdam and equity issue
• Press release: Royal Reesink finalises equity issue
• Press release: Acquisition of Agrometius finalised

Transaction 8 September 2014

Project Holland Fonds has sold its remaining interest in Ordina through an OTC transaction. On January 15 2014, PHF already reduced its stake from 24% to 9.3% through an accelerated bookbuild process. Ordina referred to PHF as a stable and important shareholder during the strengthening of its capital structure in 2011.

• Press release: Project Holland Fonds sells remaining interest in Ordina

Transaction 25 august 2014

NedSense reached agreement on the sale of NedGraphics, its CAD/CAM software division. With support from NedSense’ major shareholders including PHF, this transformational transaction will result in NedSense being able to entirely focus on further developing its LOFT 3D visualisation software division. NedGraphics, a healthy and profitable software company with over 3,500 customers worldwide, will be acquired by Constellation Software Inc. for a purchase price of EUR 7.5M.

• Press release: NedSense has reached agreement on sale of NedGraphics division

Transaction 18 august 2014

DPA Group strikes again with the takeover of Fagro and takes a next step in pursuing its growth strategy. With profitable sales of EUR 20M (2013), Fagro is a secondment specialist for finance & control professionals, which seamlessly fits into DPA’s core business. The acquisition is expected to be immediately earnings per share enhancing. The takeover price is partly financed by an equity issue of 4.5M shares. For this issue, PHF acted as underwriter for the entire amount. In this role, PHF provided security of funds for the M&A transaction. The issue was significantly over-subscribed.

• Press release: DPA Group strengthens position in finance & control by acquiring Fagro and announces equity issue.
• Press release: DPA Group sells 4.5M shares to existing and new shareholders.

Transaction 15 January 2014

Project Holland Fonds has used an accelerated bookbuild process to sell 15% of the outstanding shares to institutional and qualified investors. In this way Ordina acquired a broader shareholder base and better share liquidity, which reflects positive on Ordina. With the sale Project Holland Fonds realized part of its return on investment and reduced its stake to a 9.3% interest. PHF continues to be a large shareholder in Ordina.

• Press release: Project Holland Fonds reduces interest in Ordina
• Press release: Successful placement of Project Holland Fonds’ interest in Ordina

Transaction 18 January 2013

Reesink completes the acquisition of Hans van Driel BV, market leader in the Netherlands in distribution of Atlas and Terex earthmoving equipment. The acquisition seamlessly fits with the operations of the Kemp Group acquired in 2012, a distributor of earthmoving equipment in the Benelux. To fund the acquisition Reesink utilises the stand-by equity facility agreed with PHF in 2012 for an amount of EUR 4.4M.

• Press release: Reesink finalises acquisition of Hans van Driel

Transaction 10 January 2013

Boskalis announces a share issue of EUR 320M. The proceeds of the equity issue are part of the funding for the Dockwise acquisition. A total of EUR 160M is placed with HAL Investments and PHF, which have issued a pre-commitment. The remaining EUR 160M will be placed with institutional investors and professional players through an accelerated book build offering. With this funding transaction Project Holland Fonds acquires a significant equity stake in Boskalis.

• Press release: Boskalis announces EUR 320 million equity offering
• Press release: Boskalis successfully raises EUR 320 million through equity offering

Transaction 26 november 2012

Maritime services provider Koninklijke Boskalis Westminster announces its intention to acquire Dockwise at a price of EUR 17.20 per share. After discussions with, amongst others, major shareholder PHF, the bid was raised to EUR 18.50 per share (EUR 733M). On February 13, 2013 the Board of Dockwise unanimously accepts the bid. The acquisition of Dockwise Boskalis was finalized on April 23, 2013.

• Press release: Dockwise to review merits of intended offer Boskalis
• Press release: Dockwise encouraged by increased offer
• Press release: Dockwise supports combination with Boskalis and recommends Boskalis offer to shareholders

Transaction 5 November 2012

Koninklijke Reesink strengthens its own capital in order to fund its growth strategy. The company launches a private placement of 9.99% of the issued shares. PHF has issued an underwriting guarantee for this placement. Additionally PHF provides a standby equity facility for Reesink, allowing Reesink to, once again, issue up to 9.99% shares in several tranches, which are then placed with PHF. This facility may be used to fund acquisitions. The issue price of the equity facility is equal to the issue price of the private placement launched.

• Press release: Reesink announces equity issue and stand-by equity facility

Transaction 20 September 2012

Publicis Groupe, a leading global media agency, intends to expand into digital communications services. LBi is one of the last independent digital marketing agencies with a strong market position and is, as such, of great strategic importance for Publicis. Publicis, supported by LBi's Board, makes a cash bid of EUR 416M. Large shareholders, accounting for 67% of the shares, have agreed to register their shares for the bid. PHF has entered a put-call option agreement with Publicis, allowing PHF to dispose of the proceeds several months earlier than the date of the final closing of the transaction.

• Press release: Publicis and LBi agreement on recommended cash offer

Transaction 14 June 2013

Reesink announces its intended acquisition of Pon Material Handling Europe, a subsidiary of Pon with a profitable revenue of EUR 218M and operating in import, distribution and maintenance of forklift trucks, cleaning machines and hydraulic systems. The acquisition is also funded with a share issue of EUR 16M. PHF guarantees the entire share issue, which will take place through a placement to institutional investors and, via a public offering, to private investors.

• Press release: Reesink announces significant acquisition, adding strong brands
• Press release: Reesink finalises acquisition of PON Material Handling Europe

Transaction 22 April 2012

Dockwise announces a public bid on Fairstar Heavy Transport, a Rotterdam-based competitor with four transport vessels and an interesting order portfolio for transports in the oil and gas industry. The acquisition of Fairstar allows Dockwise to strengthen its position as market leader in heavy marine transport and improve the balance between short-term assignments and long-term projects. A USD 250M rights issue was launched to fund the bid. PHF, along with HAL Investments and Dockwise's other large shareholders, has pre-committed to subscribe for a portion of this rights issue.

• Press release: Dockwise proposed acquisition of Fairstar by Dockwise to accelerate achievement of strategic goals
• Press release: Fairstar Board unanimously recommends acceptance of NOK 10 per share

Transaction 17 April 2012

DPA Group takes a next step in its growth strategy by acquiring Benkis Interim Professionals, a specialist secondment agency in the banking sector. The acquisition raises DPA Group's turnover with EUR 10M and increases its market share in secondment of financial professionals. Project Holland Fonds guarantees the proceeds of a sub-10 equity issue to fund the acquisition.

• Press release: DPA Group acquires Benkis and launches equity issue
• Press release: DPA share placement successfully finalised
• Press release: Closing of Benkis acquisition

Transaction 7 October 2011

Ordina reinforces its capital structure with EUR 40M in equity through a share issue fully guaranteed by Project Holland Fonds. Ordina can use this to entirely repay an existing expensive subordinated loan and reduce its bank debt to a level that fits the current market conditions. At the same time, Ordina reinforces its strategy and optimizes the management of the internal organization. PHF takes EUR 5.5M in shares via a direct placement and guarantees a EUR 22.2M rights issue. PHF also commits to a second placement of EUR 12.2M simultaneously with the rights issue.

• Press release: Ordina strengthens capital structure by EUR 40M
• Press release: Ordina finalises refinancing

Transaction 10 August 2011

PHF becomes a major shareholder of LBi International, the largest independent digital marketing and technology agency in Europe. PHF is convinced of LBi's strategic potential. With its leading market position LBi will benefit from the shift from offline to online business and the growing impact of social media on branding and marketing strategy.

• Press release: LBi welcomes new shareholder

Transaction 23 June 2011

With a tailored funding transaction PHF supports software developer NedSense enterprises in its growth strategy focused on the development of the software product LOFT. PHF also facilitates optimization of NedSense's balance sheet by repayment of an expensive existing loan. In addition to the placement of a 29.6% equity interest by PHF, PHF provides a standby convertible loan which NedSense can use in the next one and a half year to fund LOFT product and market development.

• Press release: NedSense secures new financing for growth strategy

Transaction 14 January 2011

DPA acquires the Nederlandse Interim Groep (NIG) to be able to focus on further growth as a strong and profitable player. DPA and NIG have a strong strategic fit with commercial synergy potential. Due to the improved scale, the combination can be managed much more cost efficiently. The board of DPA is extended with NIG's management, including Eric Winter and Olav Berten. The cash portion of the acquisition sum will be funded by a rights issue of EUR 18M. Two third of the large shareholders, including PHF, are committed to participating in the issue pro rata. The remaining part is guaranteed by PHF. Supported by PHF, DPA's acquisition of NIG is a crucial strategic step towards a financially solid, growing and well-run professionals secondment firm.

• Press release: DPA Group acquires Nederlandse Interim Groep
• Press release: Announcement of rights issue
• Press release: Closing of NIG acquisition

Transaction 20 September 2010

Dockwise plans to design and build the largest semi-submersible transport vessel in the world to meet the growing demand for transportation of very large and heavy objects and maintain a dominant position in the market's top segment. The three largest shareholders of Dockwise, including PHF, guarantee the required share issue of USD 100M and commit themselves to their pro-rata share in the issue.

• Press release: Dockwise secures full commitment for planned USD 100m rights issue
• Press release: SGM approves rights issue to finance the new type-0 vessel

Transaction 23 July 2010

For more information about Oranjewoud N.V.'s acquisition of Strukton Groep and PHF's involvement we refer to the following press releases:

• Press release: Oranjewoud acquires Strukton and strengthens the position of Oranjewoud
• Press release: Oranjewoud finalises Strukton acquisition

Transaction 4 May 2010

DPA announces a EUR 9M share issue to strengthen its balance sheet and fund the acquisition of a minority share in DPA Supply Chain People. Project Holland Fonds participates in the share issue for the amount of EUR 7M. The remaining EUR 2M is raised by converting an existing subordinated loan previously provided by major shareholders. In addition, the Board is extended and new Supervisory Board members are appointed.

• Press release: DPA Group strengthens platform for growth

Transaction 19 October 2009

In a tailored transaction HAL Investments, Sankaty Advisors and PHF take over private equity firm 3i's 26% stake in Dockwise and commit to participate in an USD 250M equity raising to reinforce the balance sheet. Dockwise obtains a listing on Euronext Amsterdam to boost share liquidity.

• Press release: Balance sheet reinforcement to secure long-term development of Dockwise
• Press release: Dockwise share issue in subsequent offering
• Press release: listing commences on Euronext Amsterdam