Avedon Capital Partners sells Robidus to Aegon
Avedon Capital Partners has sold Robidus, a provider of social security services and software in the Netherlands, to Aegon, a life insurance, pensions and asset management company headquartered in The Hague, Netherlands.
Closing is subject to regulatory and workers’ council approvals.
Both the Robidus Management and Avedon are pleased with this transaction, which confirms the value creation strategy that has been actively pursued in partnership since 2015.
Founded in 2003 and based in the Netherlands, Robidus has built highly specialised domain expertise to help Dutch employers execute their tasks and responsibilities regarding employee absence and disability as required by law and manage inherent financial risk and costs. The company’s deep understanding of the complexity of the practice and legal aspects of employee absence and disability enables it to benefit from attractive market dynamics most importantly driven by a continuous change in social security legislation and regulation, increasing focus on productivity and aging of the workforce.
With the support of Avedon, Robidus has almost doubled its revenues over the past 3 years, through organic growth and by developing a strong tech-enabled operating platform. Robidus has built up a strong client base with more than 90 per cent of its revenues recurring, giving it a very stable basis for future growth initiatives.
Alfred Tulp and Ronald Kolk of Avedon Capital Partners, says: “Over the past years, Robidus has developed into a tech-enabled company with deep knowledge of the market and a full service offering. We are proud that we were able to support the required investments in the company. We are convinced that with Aegon, Robidus has found a strategic partner to support a bright future for the company”.
“We are grateful that Avedon has supported the substantial investments in organisation and software development to create a leading tech-enabled platform for further growth. In this next phase of growth, Robidus will benefit from the knowledge and expertise of Aegon, while maintaining its independent position,” says Sven Kelder, Chief Executive Officer of Robidus.