22-06-2023

VE Partners Acquires Majority Stake in Upforce

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VE Partners has successfully acquired a majority stake in Upforce, a leading staffing company specializing in international workers in the Netherlands. The acquisition, finalized on June 22, 2023, involved VE Partners and the existing management team securing the stake from investor FIELDS Group.

Upforce, formerly known as a merger of five local companies, including SEP Peeters, Uitzendbureau Verbeek, and Direct People, has established itself as a key player in providing international labor primarily for the food industry, logistics, and engineering. The company, with offices in Venlo (headquarters), Eindhoven, and Oudewater in the Netherlands, also operates a recruitment location in Poland.

The transaction marks VE Partners’ strategic move to tap into the growing demand for motivated international flex workers, a demand Upforce has successfully met for its clients. FIELDS Group, having been actively involved in Upforce since 2018, has agreed to part with its shares, paving the way for the new partnership.

Founders Gregor Popanda and Theo Peeters will continue their involvement in Upforce as co-shareholders, ensuring continuity and a seamless transition. Ellen Niessen, Managing Director of Upforce, expressed optimism about the collaboration, stating, “Over the past 2 years, after a period of rapid growth, we have been able to achieve considerable professionalization. In VE Partners, we have found an partner willing to support us in our further growth plans.”

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