Avedon becomes majority shareholder in WCC Group
Growth capital investor Avedon Capital Partners has acquired a majority shareholding in biometric identity solutions firm WCC Group, which allows WCC Group to expand even more globally into new markets as well as reinforce relationships with its current clients.
Founders and former majority shareholders Peter Went and Mark Wegman will maintain a share in WCC, but step back from the executive board. The company’s former COO, Wim Rietdijk, has been named the new CEO.
“With the support of Avedon we are entering a new phase and starting to explore new markets. This also gives our employees the opportunity for personal growth and empowerment. In fact this is a milestone for us all,” said 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.”
WCC provides biometric software solutions to the employment and the identity market. In the employment market, WCC serves many of the world’s public employment services and some of the largest staffing companies across the globe.
In the identity market, WCC delivers biometric solutions for border control, as well as plays a key role in establishing the identities of nations’ citizens and in several refugee camps around the world.
“We have the ambition to accelerate WCC’s growth,” said Michel Verhoog, partner at Avedon Capital Partners. “We will actively support the company in the years to come, through both autonomous growth and acquisitions. WCC will thus remain an independent company. We are thrilled to combine WCC’s great expertise and skills with our experience with high-growth mid-sized internationally focused software companies.”