Baker Tilly enters into partnership with Inflexion

Utrecht, January 23, 2025 – Accounting and consultancy firm Baker Tilly Netherlands and investment company Inflexion are entering into a strategic partnership. Inflexion is acquiring a minority interest in Baker Tilly through its Partnership Capital Fund III. The transaction is expected to be completed in the first quarter of 2025. With Inflexion, Baker Tilly can achieve the growth acceleration required for a stable top 10 position in the market. The partnership will lead to better service to clients, growth of business and attractive opportunities for employees.

Baker Tilly has achieved autonomous growth of more than 10% per year in recent years. The turnover in 2024 will amount to approximately € 150 million. This was possible thanks to successful investments in leadership, innovation, cultural change, talent management and quality of service. The number of employees has increased to more than 1,000. In a consolidating market, autonomous growth alone is insufficient to maintain the scale required to remain attractive to customers and employees.

Ronald Hoeksel, CEO of Baker Tilly: “The arrival of Inflexion as a new shareholder heralds a new phase for Baker Tilly. Inflexion is very experienced and focused on collaboration and growth. It is very important to us that we can maintain what we are proud of and what our customers value us for: our quality, our identity, our brand and our talented and passionate people. Customers can continue to count on the service they are used to from us and also benefit from our investments in product innovation and digitalization.”

Joke Hoekstra, Chair of the Supervisory Board of Baker Tilly Netherlands: “In the past period, we have explored several strategic opportunities. The Supervisory Board sees Inflexion as the most suitable partner for Baker Tilly. Inflexion supports the growth and development of Baker Tilly not only with capital, but also with highly relevant expertise and strategic support. This enables Baker Tilly to make more in-depth investments and to grow further, both autonomously and through acquisitions.”

Sander Ruijter, Head of Inflexion Benelux, said: “The accountancy sector is ripe for consolidation and we believe that Baker Tilly is well placed to take advantage of this opportunity.  We look forward to supporting the whole team at Baker Tilly as they continue to grow the business both organically and through acquisition whilst delivering the high-quality service that clients expected.  We are specifically pleased how the unique flexibility of our minority strategy has allowed us to structure a partnership that enables Baker Tilly to benefit from the value-add of a strategic investor, whilst keeping control within the partner group.”

The proposed transaction will be submitted to the Netherlands Authority for Consumers and Markets. Baker Tilly is also still in consultation with the Dutch Financial Markets Authority and will seek advice from its Works Council.