The story of Jac van Meer of Prisma
After years of working as a Chartered Accountant (RA) and line manager in healthcare, Jac van Meer has been working at Prisma since 2017. Prisma is a care organisation for people with a disability, which provides residential care, counselling, treatment and day treatment and has the personal needs, possibilities and talents of their clients in mind. When Prisma was approached to take over a smaller care institution, they went looking for an advisor. So Florijnz was allowed to accompany Prisma in various projects.
The great thing is that Florijnz really looks for the connection and therefore knows what suits us and what does not suit us.Jac van Meer – Manager financiën, ICT, vastgoed, facilitair en inkoop bij Stichting Prisma
Jac tell me, how did it all start with Florijnz?
About two years ago we were approached by a party for a possible takeover. We were interested, but did not know how to proceed. We found out that we had a lot of knowledge in house, but still needed specific knowledge about the acquisition process. The selling party was accompanied by a corporate finance advisor, so we thought it would be a good idea to have an advisor next to us in the negotiations and the process.
We found it important to choose an advisor where personal approach is paramount. A party in the vicinity to make it easier to coordinate things. But what was certainly a prerequisite: we wanted an advisor who has a practical approach and experience with acquisitions in the healthcare sector.
We did a Google search and contacted them after looking at the website. The experience and expertise came across well. We also saw that Florijnz care has specific experience, so that certainly appealed to us.
How did it go from the introduction?
The introduction was short but sweet, and after that it went very quickly. We were linked to Senior Corporate Finance Advisor Marieke. Of course we were already talking to the vendor so Marieke and the team of Florijnz jumped in halfway through the process. They had to jump on a moving train. Almost immediately they joined in talks with the other party. Then we really got to know each other. They did pass the first test: practical and straightforward.
I noticed that the people I spoke with were very accessible. Besides Marieke we also worked with Joris, Stef and Willem. The team was able to switch gears very quickly, but at the same time they also made it feel familiar. From the very first moment, they really sought to connect us. The high degree of expertise with these people really gives you the feeling that you have the process well in hand.
What have you all done with Florijnz?
We've done three stretches so far. The special thing is, we haven't acquired anything yet, yet it feels like we're steps ahead. But even though there hasn't been a transaction yet, we've still learned as an organization from this process.
What makes Florijnz a good consultancy firm?
We didn't necessarily want to merge or acquire, but the opportunities just happened to come along. What we have learned is that an acquisition certainly has to fit in with the organization's strategy, vision and way of working. We find this very important, perhaps even more so than the price. The beauty is that Florijnz really looks for the connection and therefore knows what fits us, and what does not fit us. There is also really tested within the process. You notice that the team of Florijnz not only wants to make hours, but will just be honest: this does not fit with you. There is a very realistic assessment of whether the transaction fits the company. And if not, that is also said.
"And if anything was needed, Florijnz was always there."
What has Florijnz helped you with?
Especially the process side: which steps do you take. For example, the drafting and interpretation of such a Letter of Intent (LOI). They made a good contribution in this respect. The team really entered into the discussion with us about the financial valuation. We have prepared a lot ourselves by the existing knowledge in house, but it is very nice to hear from Florijnz that the calculations are correct. That confirmation is very nice.
Florijnz has really made use of our knowledge and skills, and does not necessarily want to pull the process to themselves. We made good use of each other's strengths. Florijnz shined especially on the process side: how do you tackle that? Indicating 'Now we'd better leave it at that'. They complemented us with strategic process guidance through a practical interpretation. This enabled us to act very quickly. And that was necessary too. And if something was needed, then Florijnz was always ready.
Those are nice words. What else struck you in the process?
For us, it is simply a condition that the advisor thinks about the long term. A Corporate Finance advisor should not go for the short term solution, but should put the interests of the client first. Taking over certain organizations does not help in the long term strategy.
When Florijnz started with us, it was a very small project. You notice that Marieke wants to go for continuity. We have done several projects now, and every time I know who I can call. She's ready the next day. It really feels like a partnership. Instead of closing the deal quickly, Florijnz really wants to build a long-term relationship. A takeover like this is also a question of trust.
Why would you recommend Florijnz to others?
The available expert knowledge is high along with a structured approach. A practical approach is clearly chosen. Because the team does not communicate too formally, you really get a collaboration in which you do it together. The team of Florijnz are pleasant people to work with. The click is very important in such a process. It is important to keep thinking: Do you like doing it together? Because you have to be able to arrange things quickly together. The consultants of Florijnz are easily accessible. The connection is made well, not only within the process, but also with the project team members.