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06/2022

HOUSE OF HR acquired by BAIN CAPITAL

BELGIUM Professional Services / HR & Capital / Temp Work / Staffing EV 1b - 4b EUR

Context

Bain Capital Private Equity acquired a 55% majority stake in House of HR from the French private equity firm Naxicap Partners. This transaction concludes a decade-long value creation cycle during which the group’s revenue exploded from €330 million to €2.2 billion through a series of tactical international acquisitions. The strategic rationale for the deal is rooted in the target’s hybrid positioning—combining traditional staffing with engineering consultancy and digital recruitment platforms. Despite the challenging macroeconomic environment following the geopolitical shifts in early 2022, the deal was successfully structured through a significant debt package, highlighting the high resilience of the group’s cash-flow profile. The partnership is designed to accelerate the group's "phygital" transformation and solidify its dominance in specialized European markets. This secondary LBO reflects the maturity of the Belgian champion, transitioning from a regional player to a globally recognized HR powerhouse with the financial backing required to maintain its high-speed acquisition pace and technical innovation.

HOUSE OF HR, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , representing a level the average currently observed in the Business Services sector (11.4x).

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Target

House of HR is a leading European provider of specialized HR solutions and talent engineering services. The group operates under a unique decentralized model, managing a portfolio of distinct brands—such as Accent, Redmore, and Vialegis—that cater to specific professional niches including IT, legal, and engineering. A pioneer in the digitalization of recruitment, the company has developed proprietary platforms like CTRL-F (IT-focused) and Gighouse (freelance matchmaking). Its business model focuses on high-growth, high-margin specialized segments rather than generalist labor, providing both temporary staffing and permanent placement. Strategically, the group leverages its extensive network of 700 offices across Europe to combine local proximity with advanced digital tools, serving 57,000 workers monthly and positioning itself as a "Tech-enabled" leader in the European human capital market.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2021
2020

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REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 1b - 3b EUR

EBITDA range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of HOUSE OF HR by BAIN CAPITAL are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: bain capital