Growth capital investor Avedon Capital Partners has acquired a majority shareholding in WCC Group.
Avedon will substantially invest in WCC Group to accelerate its global expansion into new markets and further build out its strong relationships with current clients.
Founders and former majority shareholders Peter Went and Mark Wegman will keep a material share in WCC, but step back from the executive board. Wim Rietdijk, former chief operating officer, has been appointed CEO.
WCC delivers software solutions to the employment and identity markets. The company serves many of the worlds public employment services as well as some of the world’s largest staffing companies. Beyond border control, WCC is active in establishing the identity of a nation’s citizens and in many of the world’s refugee camps.
“With the support of Avedon we are entering a new phase and will start exploring new markets. It also provides our employees with the opportunity for personal growth and empowerment. In fact, this is a milestone for us all,” says Rietdijk. “Continued focus on the existing markets is extremely important. In the public employment market the focus remains on workforce development. In the identity market, services based on a foundational identity of citizens is key. In addition, there is a growing need for WCC’s technology in other markets.”
Michel Verhoog, partner at Avedon Capital Partners, says: “Together with management we are committed to accelerate the international growth of WCC. We will actively support the company in the years to come, through both autonomous growth and acquisitions. We are happy and thrilled to combine WCC’s great expertise and skills with our experience with mid- sized software companies in achieving their ambitious international growth plans.”
