Utrecht-based construction and renovation platform Solvari has acquired competitors Casius and Twizzi in a move that will only further strengthen its market position in the Benelux region. Financial details of the acquisitions were not disclosed.
There are some jobs around the house that a few visits to YouTube and some trial and error can generally accomplish. And then there’s the job of installing a new heat pump or building out a dormer or installing solar panels. E.g., a task where calling in a professional is far more advisable. And safer. And in the long run, cheaper.
Helping consumers wade through a sea of available labour and varying prices, Solvari’s offer connects over 3,000 people per day in the Netherlands and Belgium with over 5,000 contractors, figures the company now seeks to build upon with the acquisitions of Casius and Twizzi.
Combined, since 2000 Solvari competitors Casius and Twizzi have mediated over €2 billion of building and renovation projects for private individuals in the Benelux region.
On the acquisition, Casius co-founder Toon Vanagt commented, "After 22 years, our fragmented market of digital matchmaking platforms in the building and renovation sector is ripe for consolidation. As an entrepreneur, you then have the choice of taking over competitors yourself or joining a strong group. In the past year, we were very impressed with the strategic acquisitions that Solvari made in our home markets with the help of venture capitalist Vortex. We also saw the obvious synergies and opportunities for cooperation.”
Solvari is backed by Amsterdam-based Vortex Capital Partners which provide the financial firepower behind the company’s build-and-buy market consolidation strategy. Prior to Casius and Twizzi, Solvari has acquired Belgium’s Buldit, Power Leaf Group, and Offrea, and more acquisitions are on the horizon.
“We are looking forward to adding the extensive experience and network of Casius and Twizzi to our Solvari group. Together, we are thus accelerating our growth towards undisputed market leadership in the Netherlands and Belgium and we expect to grow to a turnover of just under €20 million. With the recent acquisitions, we have a wider range of quality services for our customers,” commented Solvari CEO Dennis van den Bos.