Expansion

Johan: "June 2023: that's the date I've had in mind for the definitive sale of my company for years. On that day, my youngest daughter will finish her final exams, and I've always said that I'd have 'real' work as long as my children are in school. Anyway, it will be a good time to step back; by then, I'll have worked on and in my company for about 35 years.

I co-founded Expansion in 1988 with a friend, and over the years, we've grown into a widely-used cloud platform for enterprise content management. None of my three children are interested in taking over from me, so I've been thinking for a while about what I wanted to do with Expansion.

Cloud companies are in high demand, and the price this party was willing to pay turned out to be higher than the valuation we had in mind. I hesitated: I hadn't really been considering a sale yet, but with the booming SaaS market in mind, it seemed wise to consider selling now.

I decided to take the leap and explore if there were other interested parties. This led me to Rembrandt Mergers & Acquisitions, where the extensive international network, in particular, was the deciding factor. Subsequently, a process began where a significant amount of information and documents needed to be gathered; for the valuation and for the compilation of a comprehensive information memorandum. It helps when you're actively involved in document management, making it easy to retrieve all necessary data swiftly. Moreover, the consultants at Rembrandt were very hands-on, which made the process incredibly smooth.

After a thorough valuation, discussions with potential buyers commenced. Thanks in part to Rembrandt's extensive network, we were able to invite several intriguing private equity and strategic parties. Ultimately, one party stood out, offering a competitive price and fostering a strong rapport: WoodWing Group, a Main Capital investment. They acquired 100 percent of the shares.

Thanks to Rembrandt's structured approach, the acquisition was a textbook example: from initial contact to deal closure, only four months elapsed. Of course, engaging an external advisor comes with costs. However, it's money well spent in the end; Rembrandt is
particularly transaction-oriented, with an eye for the conditions an entrepreneur sets, and they managed to extract the maximum value for us. Now, I've closed an exciting deal, and from June 11, 2023, I'll be free to go wherever I please – exactly as I've always envisioned."

Ready for the future.

Honest, thorough and thoughtful. Your future plans deserve the best advice. Our approach follows a tightly guided path, leading to a successful transaction in every respect. Curious about the possibilities? We are here to help via the options below.