The Odin Group subsidiary, Previder Belgium, acquired AppSys ICT Group as part of its local consolidation ploy.
After acquiring Odin Group from Fortino Capital in February 2022, Seven2 (formerly Apax Partners in Europe) stated that it aimed to support the group’s ambitions to become the leading cloud managed service provider (MSP) in the region through M&A. This ambition is also the driving force behind Previder Group’s recent expansion in the Belgian IT sector, with the AppSys deal building on the company’s earlier acquisitions of 2invision and Assyst Europe.
“Belgium is an important growth market for Previder,” notes Odin Group CEO Arno Witvliet. He explains that the deal adds AppSys’s broad IT services portfolio, deep knowledge of the Belgian market, scale and strong customer relationships to the broader organisation.
“This aligns well with the way we want to grow: through local expertise, entrepreneurship and a focus on long-term relationships.”
AppSys ICT Group was founded in 2012, when Kris Nijs and Werner Jans joined forces to start a new venture after working closely together for more than five years through their own companies (Business IT Solutions and JANS ICT Consulting). Over the years, the company has grown from a small operation in Peer to a full-service IT organisation with an additional location in Houthalen, building a strong market position backed by deep technical expertise, high-quality IT project delivery, Gold and Platinum vendor partnerships and recognition as one of Limburg's fastest-growing companies (Trends Gazelle).
AppSys’s current management team will remain closely involved. Kris will become managing director of Previder Belgium, while Werner will take on the role of director of transformation within the group. In these roles, they will help further develop the Belgian Previder organisation.
Kris says Previder closely aligns with his team's ambitions and working culture. “By becoming part of Previder, we can support our customers across an even broader range of IT needs while continuing to build on the expertise, relationships and quality that define AppSys,” he concludes.
An adviser’s account
“For me, the most rewarding part is seeing how relationships and market knowledge built over time can lead to the right match,” notes the buy-side lead adviser, Maurits Odekerken, director at Investec, which leveraged its broad network to arrange the initial introductions and meetings between the parties.
“We invest a lot of time in really understanding the Benelux IT Services market and speaking with entrepreneurs and stakeholders. It is great when that groundwork translates into a transaction that makes strategic sense for both parties; it reinforces the importance of being genuinely close to the market, maintaining a dedicated sector focus and proactively identifying opportunities.”
With offices in Amsterdam and the south of the Netherlands, in ‘s-Hertogenbosch, Investec has a strong regional presence and keeps a close eye on developments across the Benelux region. “We make a real effort to stay close to the market by organising and attending industry events, regularly speaking with entrepreneurs and investors, as well as publishing industry research – including our annual European IT Services report,” Maurits explains.
Not to mention, with around 300 M&A professionals across Investec internationally, there are plenty of colleagues’ expertise and market knowledge to tap into. “By following everything from large listed strategics such as Capgemini and Tata Consultancy Services to PE-backed platforms and smaller privately owned businesses, we build a comprehensive view of the sector,” Maurits continues. “This combination of local relationships, market intelligence and sector expertise helps us identify opportunities and bring the right parties together.”
Jesper de Voijs and Jesse Molenaar were part of Investec’s Benelux deal team and, alongside Maurits, provided strategic guidance, process coordination and transaction support to bring the acquisition to a successful close. “Aligning strategic objectives, building trust between the parties and navigating due diligence were important focus areas for us,” shares Maurits.
“In cross-border transactions, understanding both businesses and ensuring everyone is aligned on the rationale for the deal are essential to getting the deal over the line.”
He says keeping communication open, staying hands-on, and keeping everyone focused on the shared objectives are key. “Our close involvement throughout the process helps maintain momentum and build trust between the parties,” Maurts concludes.
