House of HR acquires the Dutch company TMI

Roeselare (Belgium), 10 February 2022 – House of HR, the leading European HR services group acquires the Dutch company TMI. TMI specialises in health care recruitment and secondment. With an estimated 2021 turnover of 97.7 million euros, TMI is one of the largest HR service providers for health care in the Netherlands. House of HR has acquired 100% of TMI. Current CEO and founder Noël de Vries is reinvesting a large part in House of HR and will remain in charge of TMI. With the acquisition of TMI, House of HR aims to further position itself in the health care sector and help TMI grow into a leading European recruitment company.

Largest health care service provider in the Netherlands

House of HR has acquired the Dutch company TMI, one of the largest HR service providers for the healthcare sector in the Netherlands. Both at home and abroad, TMI is responsible for the recruitment of profiles for hospitals, public care institutions, ambulance staff, nursing homes, and so on. Moreover, they also supply temporary staff (secondment), intermediates for freelancers, and offer flex jobs. The profiles they work with include doctors, nursing staff, psychologists, and pharmacists. Current CEO and founder Noël de Vries will remain in charge of TMI and is reinvesting a large part in House of HR.

TMI's 2020 gross turnover was 71.3 million euros. Its 2021 gross turnover is expected to be close to 100 million euro. It is headquartered in Amsterdam and has an extensive presence in the Netherlands and some foreign activities. House of HR is acquiring 100% of TMI. This acquisition is subject to the approval of the Dutch competition authority. 

Rika Coppens, CEO at House of HR: 'This year 2022 is off to a good start for us. Not only is the organic growth very strong post-Covid, but after last month’s acquisition of the German company SOLCOM, we have more good news to announce today. While SOLCOM fulfils our ambitions in IT recruitment, the acquisition of the Dutch TMI gives us a solid foundation to build on in the Dutch health care staffing and recruitment market. Last year, we also bought the German company avanti, which is active in the same sector. The fact that Noël remains in charge of TMI and is investing further in House of HR gives us great confidence in the future."

Andres Cano, CFO at House of HR: “This acquisition will be realized with our own funds. Next to this, we are pleased that the financial market shows great confidence in House of HR as the add on Term Loan B was successfully completed at 190 million euros (instead of 150 million), and the orders by investors were twice as high. This huge interest from investors helps us to further execute our strategy in the coming months and grow both organically and through M&A."

The healthcare sector: a large and fragmented market

With the TMI acquisition, House of HR aims to have a much stronger presence in the health care sector, a market in which the group has long wanted to position itself on a larger scale. HR services within the health care sector constitute a large, fragmented market with many players, which provides many M&A opportunities. In the short term, House of HR wants to develop a specialized branch of HR services for health care within the group. The acquisition of TMI is a significant step in realizing this objective. For TMI, the acquisition is also a new phase in their growth process. The support of House of HR allows them to further expand their position in the European market, over and above the already strong position in their own country.

TMI was founded in 2001. CEO and founder Noël de Vries remains at the helm of TMI. Noël de Vries, CEO of TMI: 'We're looking forward to further growth and spreading our wings at the European level with the help of House of HR. We're now working with a talent pool of more than 4,000 profiles and want to increase this even further. We are delighted to do this in collaboration with a successful European HR group which has a great deal of digital expertise. In turn, we are happy to further progress their expertise within the health care sector.'