Investment company Inflexion has agreed to acquire a minority stake in accountancy and consultancy firm Baker Tilly Netherlands. 

The investment is being made by Inflexion’s minority fund, Partnership Capital Fund III. 

Baker Tilly, which employs more than 1,000 people, said it achieved autonomous growth of over 10% annually in recent years, with 2024 turnover amounting to around €150m ($156.145m).  

The growth has been attributed to investments in leadership, innovation, cultural change, talent management, and service quality. 

Baker Tilly CEO Ronald Hoeksel said: “The arrival of Inflexion as a new shareholder heralds a new phase for Baker Tilly. Inflexion is very experienced and focused on collaboration and growth. It is very important to us that we can maintain what we are proud of and what our customers value us for: our quality, our identity, our brand and our talented and passionate people.  

“Customers can continue to count on the service they are used to from us and also benefit from our investments in product innovation and digitalisation.” 

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The transaction is expected to complete in the first quarter of 2025 and is expected to allow Baker Tilly to be in top ten position in the local market. 

The proposed transaction will be reviewed by the Netherlands Authority for Consumers and Markets.  

Additionally, Baker Tilly is in ongoing discussions with the Dutch Financial Markets Authority and plans to consult its works council for advice. 

Baker Tilly Netherlands chair of the supervisory board Joke Hoekstra said: “In the past period, we have explored several strategic opportunities. The supervisory board sees Inflexion as the most suitable partner for Baker Tilly.  

“Inflexion supports the growth and development of Baker Tilly not only with capital, but also with highly relevant expertise and strategic support. This enables Baker Tilly to make more in-depth investments and to grow further, both autonomously and through acquisitions.” 

Inflexion Benelux head Sander Ruijter said: “The accountancy sector is ripe for consolidation, and we believe that Baker Tilly is well placed to take advantage of this opportunity. We look forward to supporting the whole team at Baker Tilly as they continue to grow the business both organically and through acquisition whilst delivering the high-quality service that clients expected.” 

In recent years, Inflexion has invested in several professional services sectors, including health and safety management consultant dss+, accountancy and taxation service provider TC Group, legal services firm DWF, governance, risk and compliance services and software provider GRC.