JBR M&A transaction

XPartners continues to expand its Dutch platform with the acquisition of Flux Partners

JBR served as M&A advisor to XPartners in the acquisition of Flux Partners.

The deal team at JBR Corporate Finance consists of: Harold Brummelhuis, Pieter de Jong, and Gijs Breedveld.

JBR advised XPartners on the acquisition of Flux Partners.

XPartners Group, a leading Northern European engineering and design consulting group, is continuing to build out its Dutch platform. Following the earlier acquisition of RYSE, Flux Partners is the second consulting firm to join the group in the Netherlands. The acquisition aligns seamlessly with XPartners’ ambition to build a strong position in the Netherlands through multiple specialized firms and significantly strengthens the local platform. The combination of the two parties offers clear synergies: Flux Partners brings in-depth expertise in tender management and project management within the energy and infrastructure sectors, while XPartners provides its Nordic economies of scale, international knowledge exchange, and proven platform model to further expand its Dutch operations.

Facts and figures

XPartners

XPartners Group is a European engineering and design consulting group with approximately 2,500 professionals, operating in Sweden, Norway, Denmark, Finland, the Netherlands, and Germany. The group, founded in 2021 and backed by private equity investor Axcel since 2023, generates annual revenue of approximately EUR 443m (SEK 5 billion) on a pro forma basis and consists of approximately 90 entrepreneurial specialist firms that collaborate under a single shared platform. Ownership is primarily held by the employees themselves, with Axcel as a financial partner. XPartners advises clients in the infrastructure, buildings, energy, and environmental sectors. In line with this vision, XPartners actively acquires companies through a clear buy-and-build strategy, in which the entrepreneurial spirit within the individual firms is preserved and strengthened by the group’s economies of scale, knowledge sharing, and investment capacity.

Flux Partners

Flux Partners is a Dutch consulting firm specializing in tender management and project management in technically complex environments. The company, founded in 2014 with headquarters in Diemen and an international office in Copenhagen since 2024, has approximately 100 employees and generated revenue of €13 million in 2025. Flux Partners guides clients through every phase of a project—from initiation and bidding to contracting, implementation, and management. The combination of XPartners and Flux Partners provides the opportunity to further develop the Dutch platform and expand it to a leading position within the Dutch energy and infrastructure market.

Tuesday, May 12, 2026

Press Release

Flux Partners will become part of the XPartners Group and strengthen the Dutch platform

Over the years, Flux Partners has established itself as a leading specialist in technically complex tenders within the energy and infrastructure sectors, with projects in areas such as offshore wind, power generation, grid infrastructure, tunnels, railways, and roads. The company has an experienced team of approximately 100 employees who support clients across five areas of expertise: tender management, project management and control, contract management and procurement, sustainability and circularity, and environmental management. Over the past decade, the team has participated in more than 700 tenders, with an average success rate of over 55 percent. Clients are primarily leading contractors, developers, grid operators, energy producers, and public institutions.

Vision for the Future

As part of the XPartners Group, Flux Partners will continue to operate completely independently under its own name, retaining its own culture, client relationships, and business operations. The company will also gain access to a broad network of more than 80 specialized agencies and over 2,000 specialists within the XPartners platform. Michel Verlaan, CEO of Flux Partners, will remain at the helm and help steer the further development of XPartners’ Dutch platform. Both parties are focused on strengthening their service portfolio, expanding capacity, and capitalizing on new national and international market opportunities. Their shared vision of entrepreneurship and the belief that individual companies are strongest when they remain true to themselves create a natural fit between the two parties.

About XPartners

XPartners Group AB (publ) is a European engineering and design consulting group, founded in 2021 and headquartered in Sweden. The group operates in more than 30 fields and employs over 2,000 professionals across Sweden, Norway, Denmark, and Finland. XPartners’ activities are organized around four core areas:

Infrastructure – Consulting and design for transportation, mobility, and infrastructure projects.
Buildings – Multidisciplinary services covering the entire real estate lifecycle.
Energy – Solutions for the energy transition and sustainable energy projects.
Environment – Environmental consulting, sustainability, and the circular economy.

XPartners is primarily employee-owned and has been supported since 2023 by private equity investor Axcel, which is strengthening the platform for further international growth.

About Flux Partners

Flux Partners was founded in 2014 and has grown into a specialized consulting firm for infrastructure, construction, and energy companies. From offices in Diemen and Copenhagen, Flux Partners assists clients in drafting winning bids and delivering sound projects. The company provides services in tender management, project management, contract management, sustainability consulting, and environmental management within the energy, infrastructure, and non-residential construction sectors.