SET Services attracts investor for further growth

Amsterdam, 22 April 2022 - Total Specific Hosting ('TSH'), a leading group of Dutch IT outsourcing companies, has acquired a strategic stake in cloud service provider SET Services ('SET'). The transaction will allow SET to benefit from TSH's best practices and economies of scale. This will further accelerate the growth for SET’s customers and employees. TSH is a portfolio company of Strikwerda Investments, the leading investor in Dutch IT companies.

Successful IT approach
SET exists 23 years and has grown into an important Dutch player in the field of IT outsourcing. With over 30 employees, SET offers professional and innovative cloud solutions for its clients in the SMB sector in the Netherlands. The company has in-depth knowledge of the SMB sector, a high level of service towards the end-users and a full scope IT outsourcing services package, including an innovative digital workplace.

Continued growth of SET Services
Michiel van Joolen founded SET in 1999 and is involved as an ambassador of SET: "We have existed for 23 years and in recent years we have developed from an all-round IT service provider to a serious specialist in the IT market for SMBs in the Netherlands.” SET was looking for a strategic partners with the right expertise and sufficient capital to accelerate its growth. With TSH we found the ideal partner. Our strategy is to achieve organic growth through technical cooperation with the modern workplace of OfficeGrip. Our management team will continue in its current role to realize this next step.

Erik Jongkind, CEO of SET: "TSH gives us the freedom and space to remain entrepreneurs and expand our business. We have significantly grown in recent years and partly because of that we have become more visible to SMBs in the Netherlands, who now see us as a serious alternative to the larger players in the market. Partnering with TSH, more specifically with OfficeGrip, is a logical step for our company’s next growth phase."

Harm Sok, CCO of SET: “By partnering with TSH, we and the other entrepreneurs in the group can achieve our growth ambitions, without compromising on SET’s culture and DNA. We strongly believe in the 1 + 1 = 3 through, among other things, improved growth and economies of scale.”

Expansion of modern workplace proposition TSH
Joris Dierick, (interim) CEO of Total Specific Hosting: "SET has proven that it can bring its clients to a secure environment in the cloud. This transition is applicable to any type of small- or medium-sized company, making SET a strong pillar for our growth in various market segments. It also allows the other companies within TSH to benefit from the collaboration. The management team and Michiel are a welcome addition to our team of ambitious entrepreneurs".

Strikwerda Investments (SI) is a family owned investment company that focuses on healthy, ambitious, medium-sized and large SMB companies. It is a Dutch investment fund with a strong track record in the IT sector. SI is the majority shareholder in the IT outsourcing company TSH and will become so through this transaction in SET. TSH has a long term investment horizon and in addition to the current strong organic growth, also wants other leading IT outsourcing companies to join the group.

"With the addition of SET to Total Specific Hosting, an experienced management team, consisting of Erik Jongkind (CEO), Harm Sok (CCO) and Barbara Kinsbergen (CFO), joins. Michiel, Erik and Harm have built a beautiful company and can accelerate even further in the new constellation", says Ronald Steenbakkers, M&A Director at De Breek F&O, which supported SET Services during this transaction.