Antwerp – 18 January 2024
Bencis is pleased to announce that it has signed an agreement to sell its interest in IT consultancy group Tech Tribes to NPM Capital (“NPM”). Tech Tribes offers an end-to-end approach for tailor-made IT solutions within Digital Strategy, Software Development, Quality Assurance, Infrastructure, DevOps, Cloud Solutions, Architecture, Project Management and Open Source.
Under the leadership of CEO Benjamin Goesaert and with the backing of Bencis since July 2017 the current management team has achieved double-digit organic growth, complemented by four acquisitions effectively expanding and enhancing the Company’s geographical reach and technological capabilities. The company has become a leading player in the Benelux market and at present it employs more than 750 digital experts across six locations in the Benelux: Antwerp, Ghent, Mechelen, Amsterdam, Almere and Utrecht.
In partnership with NPM, Tech Tribes plans to accelerate its successful growth, with a focus on further strengthening its technology-leadership and end-to-end digital consultancy offering at scale. All partners share the ambition to together build the leading platform for complex digital solutions in the Benelux, through organic development and an active, disciplined M&A strategy.
Completion of the proposed transaction is subject to customary regulatory approval.
Benjamin Goesaert, CEO of Tech Tribes, stated: “We are proud of the expansion of Tech Tribes into a leading IT group in the Benelux over the past few years, together with Bencis. Despite strong growth we maintained our people-oriented culture and unique DNA by respecting the distinctiveness of each tribe that has joined the group. With NPM we are bringing on board a new strong financial partner with a solid reputation and longstanding experience, also in the digital space. It is our common goal to further strengthen Tech Tribes’ position in the Benelux IT consultancy market, with continued focus on a pleasant working environment.”
Hiram Claus, Investment Director & Head of Belgium at NPM, said: “We are excited to partner with Tech Tribes, its management team and the Goesaert family. At NPM, we share the family values and people-oriented, entrepreneurial culture that enabled the Company to become the digital consultancy partner of choice for corporate and governmental clients in the Benelux. Impressed by the track record of Tech Tribes to date, we are committed to delivering the strategic and financial support for the next growth phase, including further buy-and-build to expand the digital service offering and geographical footprint. Together, we are convinced that we can take Tech Tribes to new heights.”
Benoit Graulich, Managing Partner of Bencis, added: “It has been a privilege to partner with Benjamin and the broader management team to assist Tech Tribes through this exceptional growth trajectory over the years. Tech Tribes has been an example for Bencis of partnering with professional management teams and bring local market leaders to the next level through professionalization and accelerating organic and inorganic growth. We are proud having been part of this journey. We are also convinced that NPM is the right partner for Tech Tribes to further continue its successful journey.”
About Tech Tribes
Tech Tribes is a leading IT consultancy company, delivering complex digital solutions for mission-critical business processes using state-of-the-art technologies and capabilities. The company connects the know-how of local clusters of expertise to a comprehensive end-to-end value proposition for its customers, in digital strategy, software development, and open hybrid platforms. Tech Tribes currently operates out of six locations in Belgium and the Netherlands, with a strong focus on employee engagement, satisfaction and professional development. It employs more than 750 digital experts. For more information, visit www.techtribes.eu
About NPM Capital
NPM is an independent investment partner that helps medium-sized and large companies with a head office in the Benelux to achieve their ambitions and build the businesses of the future. With offices in Ghent and Amsterdam, NPM focuses on family-owned enterprises and companies with a strong and dedicated management team. Its current portfolio consists of 22 companies, comprising both majority and minority participations, within themes that have an impact on the world’s future: Everything is Digital, Sustainable Future, Feeding the World, and Healthy Life & Learning. For more information, visit www.npm-capital.com
About Bencis Capital Partners
Bencis is an independent investment company that supports business owners and management teams in achieving their growth ambitions. Working out of offices in Amsterdam, Brussels and Düsseldorf, Bencis has been investing in strong and successful businesses in the Netherlands, Belgium and Germany since 1999. For more information, visit www.bencis.com