Ramphastos' closely followed the developments on the Dutch telecommunication markets for a number of years. The mobile phone market was still growing strongly and Ramphastos was convinced that Telfort had the potential to become the number three player in the market (it was number 5 at the time), by positioning it as a Dutch low cost/high quality provider.

Acquisition process

When Telfort came on the market, Ramphastos made a distinctive (most entrepreneurial) bid in the controlled auction, convincing selling shareholders to sell 51% of the business at a valuation of Euro 300 million, and to retain a 49% stake in the business to profit from the future growth to be realised with the help and vision of Ramphastos. Ramphastos agreed to put 4% of the shares on the line if company would not acquire at least 200k additional customers in 2 years with the help of Ramphastos.

Implementation of new business plan

Upon the acquisition in November 2004 through a very fast and transparent process, Ramphastos installed a new COO, and assisted in defining and executing the new business plan:

• Invest in quality of network with new network partner
  (Huawei Technologies)
• Increase of wholesale activity
• Increased focus on online sales
• Strengthen retail and online position
• Close preliminary agreements with major customers
• Realize significant cost savings
• Fix all issues identified in due diligence process


Nine months after the acquisition, Telfort had grown significantly (400k customers added, revenue increase by 40%, Ebitda almost doubled). This attracted interest from both strategic and financial potential buyers. Ramphastos organized a fast and competitive sales process. KPN acquired Telfort in July 2005 for an amount of Euro 1,13 billion.



Other projects

  • Delivery Hero
  • Innovations4Flooring
  • High Tech Campus Eindhoven
  • Mazarine Energy
  • VoiceTrust