April 8, 2024

Hendi announces partnership with 365 Capital to accelerate European growth in the coming years

Hendi, founded in 1934, is a European distributor of non-food catering supplies and kitchen equipment for the professional kitchen. Hendi has a wide range of ~4,500 mostly in-house designed products across ~20 different product groups (ranging from small kitchen accessories to large electrical appliances) and sells its products under its own brand. Hendi sells its products through an extensive network of distributors and renowned wholesalers to professionals in more than 60 countries. Hendi generated >€150m revenue in 2023 and serves its customers with ~400 employees from offices in eight countries (Netherlands, Poland, Austria, Italy, Romania, Spain, Greece and Hong Kong) and distribution centres in six countries (Netherlands, Poland, Austria, Romania, Spain and Greece).

The owners of Hendi chose to partner with 365 Capital to further strengthen the organisation to better respond to the opportunities the company sees and to accelerate its European growth plan. Important pillars of the growth plan for the coming years are the expansion and strengthening of Hendi's presence in the major European hospitality countries and optimisation of the product range. Tom Buch and Jolanta and Maksymilian Kultys will remain involved in the company in their current roles and nothing will change for the employees, customers and suppliers.

365 Capital is a private equity firm active in the (lower) mid-market segment of the Dutch market and focuses on ambitious companies with their headquarters in the Netherlands. 365 Capital is investing in Hendi from its first fund which was closed in April 2021 at €165m. The investment in Hendi is expected to be the last investment from the first fund and 365 Capital will begin fundraising for fund 2 in Q2.

Tom Buch, Jolanta Kultys and Maksymilian Kultys (Hendi): “We are very pleased with the partnership with 365 Capital and believe that their entrepreneurial nature and professional way of working fits well with the culture within Hendi. Through this partnership, we will increase the company's strength, allowing us to serve our customers even better and accelerate our growth ambitions.”

Hayo van Houten (365 Capital): "We are extremely impressed by Hendi's growth over the past 10 years and Hendi's unique position in the European market. Hendi has a broad and loyal customer base who highly value Hendi's wide range of high-quality products and fast delivery. We are also very impressed by the strong culture and ambition within the company. We look forward to working with Tom, Jolanta, Maksymilian and the broader Hendi team to realise our joint ambitions in the coming years."

The owners of Hendi were advised by Marktlink (sell-side M&A and legal) and Deloitte (legal).

365 Capital has been advised by OC&C (commercial), KPMG (financial), JB Law (legal), Avaxa (financing) and DLA Piper (legal). The lenders were advised by Clifford Chance (legal).