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VHP accountants

presented by October Netherlands

€308,000

6.35%

48 months

B

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location

Location

's-Hertogenbosch, Netherlands

activity

Activity

Marketing surveys & consulting

Presentation of the company

Created in 1989, VHP Accountants B. V. is active in the accountancy sector. The company, will be managed by David Verhagen, David Hayran and Sjoerd Ploegmakers has 12 employees and is based in ‘s-Hertogenbosch. VHP Accountants will be taken over and becomes a part of the David Groep B.V. which is the follow up of David Accountants VOF set up in 2018. The legal form will be changed to a B.V. for the acquisition of VHP Accountants B.V. Because VHP Accountants is the largest contributor in terms of revenue and profitability in the new group this is October’s borrower.

Mr. David Verhagen, David Hayran and Sjoerd Ploegmakers, managing directors, have all more than 15 years of professional experience in the sector.

The company’s main activities are:

  • Auditing, controlling and drawing up the financial statements.
  • Advisory and coaching.

The company works with more than 400 SME companies in the Netherlands.

Buyers David Verhagen and David Hayran met eachother at Nagtzaam Accountants before they started David Accountants in the beginning of 2018. In their working lifetime they have worked for different accountancy firms like KPMG and EY. Sjoerd Ploegmakers was partner of VHP Accountants and stays partner in the new group, David Groep B. V.

Project Description

The company requests €308,000 to finance the acquisition of VHP Accountants B.V. The remainder of the acquisitionprice will be financed with a vendor loan and an own contribution of the buyers. Valuation has been done based on the standard of the market. This project will be realised in the next few months.

Recap about the new structure: David Groep B.V. will be the holding company owned shareholders mentioned in the company description. VHP Accountants will be taken over by David Groep B.V. and stays the main operating company, (after the transaction is finalised the name will be changed to David Accountants). The VOF of David Verhagen and David Hayran will be brought in to the group as part of the transaction.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

The amount offered on the platform is limited to €150,920, which is in line with the regulatory limits.