Codex Analyse

Cadenive acted as exclusive M&A advisor to Codex Analyse in the sale of the company to paraDIGMA groep, a portfolio company of Castik Capital. The transaction broadens paraDIGMA's sustainable-employability offering with Codex's expertise and proprietary software in wage-cost schemes and social-security subsidies, giving paraDIGMA's clients access to new services while providing Codex with the scale of a leading Dutch platform. The founders and team will continue to build on Codex's established approach within the group. The deal marks the fifth add-on in paraDIGMA groep's buy-and-build strategy and is expected to close at the end of October 2026, subject to approval by the Dutch Healthcare Authority (NZa).

Codex Analyse, founded in 2011 and headquartered in Vlissingen, is a specialist in payroll-cost schemes and the application of social-security legislation, including the no-risk policy, the wage-cost benefit (LKV) and practical-training subsidies. The company combines in-depth technical knowledge with its own software platform to systematically identify and secure subsidy opportunities for employers.

paraDIGMA groep, headquartered in Nieuwegein, is a leading Dutch group active across all areas of sustainable employability, delivering services through eight collaborating companies and around 1,200 professionals. The group is backed by Castik Capital, a European private equity firm that acquired a majority stake in 2024.

For further information please contact info@quorecapital.com (+31 6 2318 2473)