Trixxo, Alfa Consultants and Dealsuite – a solid partnership for fast growth

For the fast-growing employment agency Trixxo, the partnership between Dealsuite and Alfa Consultants is the solution for achieving its M&A ambitions. After all: taking swift and meticulous action is key. Trixxo’s Managing Director, Joaquin Urbina, tells us about the company’s growth ambitions and how the partnership between Alfa Consultants and Dealsuite is essential to achieving them.

A new player in the Netherlands with a long history

Although Trixxo’s Netherlands branch is still a rather new organisation, the company’s history stretches back to 2004 in Belgium. It was at this time that the founder of Trixxo, Luc Jeurissen, started what is known as a ‘service voucher company’, which allowed those providing domestic services to be paid in an easy and flexible way. Almost 20 years later, the Belgian branch has grown into a fully fledged employment agency operating in almost every industry. In 2022, Trixxo was the fastest growing employment group in Benelux, with a turnover of €200 million. So, it is safe to say that it is no longer a small or inexperienced player.

Five years ago, Mr Jeurissen saw that the Dutch market could hold great potential for Trixxo. Apart from anything else, the market is large because there is great demand in the Netherlands for flexible workers. In 2018, Jeurissen decided to take over five Dutch employment agencies. The result was Trixxo Netherlands.

Joaquin Urbina was brought in as Managing Director in 2022, tasked with forming the separate Trixxo branches in the Netherlands into a single, standalone organisation. ‘My first task was to bring together the individual companies. Both in terms of organisation and from a legal standpoint. We have now created an entire brand for the Netherlands; one where the employees are well and truly “Trixxo-minded”. This gives us a strong foundation for our further growth ambitions, which we are delivering on with a targeted acquisition strategy.’

Growing with a clear goal in mind

Today, Trixxo has 15 branches in the Netherlands. In 2022, turnover reached €57 million. The target for 2023 is to achieve an annual turnover of €100 million. But that certainly is not the extent of the team’s ambition. ‘We want to generate turnover of €250 million by the end of 2025,’ Mr Urbina says enthusiastically. ‘That is why we are now looking for interesting parties. This includes classic employment agencies, but also those that – like some of our other branches – specialise in the international side of things. Especially in light of the current labour shortage, there is still great demand for skilled workers from other (European) countries, and we want to help ensure that this demand is met. This also means doing this in a way that allows us to take care of these agency workers in the best possible way.’

But there are a number of factors that make a potential acquisition candidate interesting to Trixxo Netherlands. Mr Urbina emphasises the example that only employment agencies with a healthy balance sheet are considered. ‘We are not the type of organisation that wants to bring companies back up from a low starting point. That is a completely different ball game – and it does not align with our growth ambitions at this moment in time.’ 

The geographical location of potential acquisition candidates can also be an important factor. Taking this into consideration makes it possible to expand across the whole of the Netherlands. ‘We strive to keep the local character within the branch. The employees of the employment agencies that we acquire often maintain the network and have excellent relationships, and we hold this dear.’

A win-win-win partnership

Over the last few years, Trixxo Netherlands’ interest in acquisitions has quickly become public knowledge. This means that, through the work of various acquisition consultants, a file containing a potential acquisition candidate will regularly end up on Mr Urbina’s desk. ‘It is sometimes interesting, but it is rather sporadic and I want to maintain a clear direction when it comes to our acquisition strategy. We are now doing this through our work with Alfa Consultants, facilitated by the partnership with Dealsuite.’ 

Although Trixxo wants to implement a part of its acquisition plans itself, the Premier Partnership between Alfa Consultants and Dealsuite offers considerable added value. The experts from Alfa are excellent sparring partners when it comes to the subject matter, and they can take over part of the process. The membership on Dealsuite significantly increases our insights into the market. And we can also come into direct contact with potential targets that we spot.  ‘We would prefer to be at the table as soon as possible if we find a party that suits us. This will benefit both of us and the acquisition candidate.’

Frank van Ee, Director at Alfa Consultants says: ‘Our Premier Partnership with Dealsuite ensures that Alfa Consultants can provide its customers and prospects with even greater support when it comes to realising their growth ambitions. For Trixxo, the link with Dealsuite leads to more visibility in the market and a more transparent range of possible targets. This will increase the deal flow and the chance of doing acquisitions. 

What is more, the Dealsuite platform is so easy to use that it takes no time at all to get an overview and gain insights into the market, says Mr Urbina: ‘I do not have the time to wrestle with complicated systems, so the alerts and the overview that Dealsuite offers are exactly what I need. It is comprehensive but is free from unnecessarily complex information or functionalities.’

Never miss out on the right target

Mr Urbina recommends that companies partner with Dealsuite through Alfa Consultants if they have acquisition ambitions. Dealsuite offers a very clear yet comprehensive overview and ensures a much larger target audience, while Alfa Consultants can contribute to and, where necessary, support with the subject matter. ‘So, you never miss the right company and you can quickly change gear if you need to.’

Floyd Plettenberg, CEO of Dealsuite: ‘Ambitious companies strive for autonomous growth, but also explore the possibilities offered by M&A. Trixxo is establishing its presence in a large and relevant network via Dealsuite. This means that parties on the sales side can find Trixxo with relevant deal opportunities. By using Dealsuite to link Trixxo and its in-house team from Alfa Consultants, they can work together to monitor opportunities on an ongoing basis and can take action immediately, should they choose to.’

Want to discuss acquisition opportunities with Trixxo? Please get in touch here.

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