M&A Awards 2022: these are the six winners

On Thursday, November 24, 2022, the fifth—and therefore extra festive—edition of the Belgian M&A Awards took place in the beautiful Maison de la Poste in Brussels. Approximately 600 professionals active in M&A, corporate finance, private equity, and venture capital enjoyed a gala dinner and afterparty. Of course, they also relished the award show, where the six winners of this edition were announced and celebrated. Allow me to proudly introduce them to you.

Winner Best Large Cap Corporate Deal 2022: 
Carpenter Corporation acquires Engineered Foam business of Recticel

The acquisition of Recticel’s Engineered Foam business by the American Carpenter Corporation, using a rare white knight strategy, was part of Recticel’s defense strategy against Greiner’s hostile takeover (along with the sale of the Bedding division). The jury considered this a exceptional situation and praised Recticel for handling this complex set of transactions. The operation involved strategic reorientation, carve-outs, and obtaining shareholder approval.

Winner Best Mid Cap Corporate Deal 2022: 
Stadsbader Group acquires BAM Contractors

The jury honors the acquisition of BAM Contractors by Stadsbader Group. Stadsbader Group is a family-owned construction group with a strong track record, acquiring assets from an international infrastructure works specialist. It was a fairly complex deal, resulting in a significant increase in Stadsbader’s revenue and a much more diverse offering.

Winner Best Large Cap Private Equity Deal 2022: 
Bain Capital acquires House of HR from Naxicap Partners

Naxicap Partners sold its stake in House of HR to Bain Capital. According to the jury, this mega-deal excelled in various aspects: value creation, leadership, importance for shareholders, and complexity of the deal.

Winner Best Mid Cap Private Equity Deal 2022: 
Prophix acquires Sigma Conso from Fortino Capital Partners
The acquisition of CPM software manufacturer Sigma Conso by Prophix is the winner in this category, according to the jury. Fortino Capital Partners had invested in the company for only a year and a half but created significant value during that period, leading to an unsolicited offer that left everyone feeling satisfied.

Winner Best Venture Capital Deal – Technology 2022: 
Collibra

The software company Collibra achieved yet another significant funding round at the end of last year. The jury holds great respect for the journey of this Belgian success story. At the time of Sofina’s entry, the company was valued at five billion, making it the first Belgian “pentacorn.”

Winner Best Venture Capital Deal – Life Sciences 2022: 
Precirix

Precirix, led by female CEO Ruth Devenyns, is a spin-off from the VUB. After a somewhat slower start, the organization has made significant progress in developing highly accurate substances to combat cancer. Among the three nominees, this company is the most advanced in its trajectory. It also secured one of the largest fundings of the year.

Process and Evaluation

The deals considered this year date from October 1, 2021, to September 30, 2022, and were nominated by the M&A community (advisory, law firms, etc.). After a preparatory research and selection process guided by our knowledge partner Vlerick Business School, our experienced jury (see below) assessed a total of 62 deals (across six categories). Each deal was thoroughly discussed and evaluated based on factors such as value creation, originality, complexity, financing structure, and strategy. This process led the jury to three nominees per category (see all nominees here) and ultimately to the six winners mentioned above.

Members of the Jury

The six-member expert jury consists of:

• Urbain Vandeurzen, Chairman panel of judges, Co-Founder and Chairman Smile Invest, former Chairman and CEO LMS International, and Honorary Chairman VOKA)
• Renaat Berckmoes, Co-Founder and Partner Fortino Capital
• Pierre Demaerel, Secretary General of the BVA (2016-2022) and Chairman of the Belgian Growth Fund
• Philippe Haspeslagh, Chairman of Capricorn Partners and Family Business Network Belgium, Honorary Dean Vlerick Business School, and Honorary Chairman Ardo
• Sophie Manigart, Professor and Faculty Dean Vlerick Business School
• Michaël Sephiha, Journalist Mediafin/De Tijd

The next edition of the M&A Awards will take place on November 23, 2023. For more information, visit MAawards.be or contact Daphné Debaenst, Community manager, at [email protected] | +32 473 87 33 26