NetRom sold to IceLake
PhiDelphi Corporate Finance has advised the shareholders of the Dutch-Romanian software developer NetRom Group in the sale to IceLake Capital. Founder/CEO Han in ‘t Veld and COO Mircea Negrila have increased their interest in the company while the informal investors that backed NetRom since the establishment in 1999 have sold their shares.
NetRom (www.netrom.nl) provides outsourced software development services to customers in Western Europe. The company is located in Breda, The Netherlands and has a delivery center with over 330 software developers in Craiova, Romania. NetRom generates an annual revenue of almost EUR 20 million and has developed into one of the most important software developers for Dutch software vendors and corporate end-users. The company provides high added value services and has obtained significant knowledge in specific sectors, such as the telecom, fintech and healthcare.
The acquisition of NetRom is the fist by IceLake Capital (www.icelakecapital.com) a private equity firm that was founded in 2018 with a focus on business services and software sectors in the Benelux.
CEO Han in ’t Veld: “The investment by IceLake will enable our growth plans for NetRom, both in Craiova (Romania) as in The Netherlands.” NetRom will invest more than EUR 10 million in the construction of a unique campus with state-of-the-art facilities for its Romanian employees, in knowledge development and in recruitment of high-potential IT-professionals from prestigious universities.