Bolster acquires a majority stake in Public Search
Bolster Investment Partners acquires a majority stake in Public Search. For over 13 years, Public Search has been the leading intermediary between finance professionals and organizations in the public domain. By obtaining a majority stake, Bolster will support Public Search in realizing its strong growth ambitions. The acquisition marks the first investment from the recently launched Bolster Investments II fund.
“A small organization but large within its niche.” When it comes to the mediation of highly sought-after finance professionals, Public Search is the market leader in the healthcare and education segment. Additionally, with the support of Bolster Investment Partners, Public Search will further expand its position in the local government segment. The company does this by offering interim services for freelancers, secondment services for their project consultants and recruitment services. Its mission is to be the standard of financial experts in the public sector. Public Search serves approximately 250 unique clients, including leading clients as the Municipality of Utrecht, Erasmus University Rotterdam and Amsterdam UMC.
Public Search was founded in 2008 by Wilco Kosters and Cengiz Çetintas. The company has been growing by approximately 20% per year and expects over €23 million revenue in 2021. The organization currently consists of 80 project consultants and 130 freelancers. Additionally, the organization has a carefully selected network of more than 1,000 freelancers, with whom they work on a regular base. To stimulate and boost the development of their employees, Public Search offers tailored (inhouse) training and development programs via the Public Search Academy, including the opportunity to participate in certain postgraduate programs as Register Controller or Certified Public Controller.
With Bolster as a partner, the successful strategy of Public Search will be continued and complemented with various growth and professionalization initiatives. Over the past few years Wilco and Cengiz have been transferring their responsibilities to the wider organization, making the sale to Bolster a logical next step. Alongside Bolster, a significant part of the employees invest in the company, highlighting the dedication and commitment of the team.
Mark van Rijn, partner Bolster Investment Partners: “We are very happy that Public Search has chosen Bolster as its long-term partner. Public Search is a real peoples business that highly values its employees. By focusing on quality and specific profiles, a dominant market position has been built in the limited-cyclical market segments that the company has selected. We look forward to further developing and growing the organization together.”
Wilco Kosters, DGA Public Search: “We are proud of what we have built together over all those years and where Public Search currently stands. The transfer of our knowledge and responsibilities has been conducted with the greatest care. In addition to the personal connection, we have a lot of confidence in the team of Bolster and their long-term investment focus. We leave a healthy and talented organization behind us and are confident that, together with all the employees, the success story will be continued.”
For more information, please contact:
Bolster Investment Partners
Mark van Rijn: +31 6 2060 1305
About Public Search
Public Search, located in Hilversum, is the leading intermediary between finance professionals and organizations within the healthcare, education and local government sector since 2008. Public Search offers interim, secondment and recruitment services. Its mission is to become the standard of business controllers in the public sector.
About Bolster investment Partners
Bolster Investment Partners is a long-term investor specialized in minority interests. Bolster invests in exceptional Dutch companies with a keen focus and a proven business model. Bolster helps entrepreneurs realize their company’s full potential. By acting as equal partners to make the difference.
The Bolster Investment Partners team spun off in 2017 from Van Lanschot Kempen NV, where it was running Van Lanschot Participaties since 1982. Bolster’s three partners have been working together for more than ten years. The Bolster team has further developed into a committed and attuned team of twelve professionals. Bolster has a proven track record; since 1982, we have successfully collaborated with more than 100 companies.