Portfolio
VNU Media
| Sector | Technology, Media & Telecoms |
|---|---|
| Investment type | Buyouts |
| Region | Benelux |
| Status | Current investment |
Nature of Business
VNU Media is a market leader in the online and print recruitment classifieds market in the Netherlands. The company has a strong portfolio of online recruitment brands including NationaleVacaturebank.nl, Intermediair.nl, Computable.nl and InIct.nl, which are supported by the print titles Intermediair, Computable and IntermediairPW. VNU Media also owns Tweakers.net, which attracts more than 3 million unique visitors per month, making it the largest IT website in the Benelux.
Investment Overview
3i led the buyout of VNU Media in December 2006. Under 3i’s ownership, the company has been completely re-engineered from a print, content driven organization with c70% of revenues generated by the print product to an online technology company where online accounts for more than 80% of revenues.
In July 2009 VNU Media was re-structured. 3i and Funds wrote off all their original equity investment, the banks reduced their debt and €17.2m of new equity was provided (of which €7.5m by 3i). 3i and HIG invested on equal terms and currently each hold c. 40% with the remainder being held by management and the banks.
We have supported the business in its transition from a traditional print publishing company to an online recruitment services company. A new business plan has been adopted, which has already delivered €17m in cost savings. The plan included integration of print and online sales forces and redesign of the IT front and back office. With the changes to the business model, we have also helped improve KPIs and reporting standards.
Work is continuing to upgrade the IT platforms to be able to offer next generation online recruitment services (e.g. search and matching). With leading market positions in both online and print, the company is well positioned to continue winning market and audience share.
