M&A and FDD advisors were crucial in bridging the Belgian market’s expectations amid higher demand and deal volumes this quarter.
M&A and financial due diligence (FDD) teams are increasingly being deployed to model complex working capital adjustments, evaluate standalone carve-out costs and verify operational synergies. Rob van den Berg – director of strategy and operations at Eight Advisory Benelux – noted that corporate carve-outs and non-core divestments have taken centre stage recently, requiring broader, forward-looking diligence to establish post-deal viability.
Read also: Toba exit a significant milestone for Strada Partners
Mirroring the market’s demand for multidisciplinary expertise, the advisory sector saw a strategic merger among Finvision, VGD and Sofindev. “We are building a high-performing and future-proof organisation where technology and data-driven insights enhance rather than replace human expertise,” shared VGD CEO Koen De Staercke. “This enables our professionals to spend more time where they create the greatest value: maintaining close relationships with clients and providing high-quality advice, which have always been defining strengths of both VGD & Finvision and will remain so after the merger.”
This emphasis on client relationships and human insights indicates a broader reality across Belgian dealmaking: deal execution ultimately depends on trust. Closing’s Maxime Claes captured this vital truth while examining transaction dynamics across Wallonia earlier this quarter, emphasising that successfully navigating transactions requires balancing technical balance-sheet modelling with interpersonal skills. “Early in your career, you focus on models, valuation and techniques”, Maxime explains. “While they are essential, over time, you realise communication, trust and understanding the motivations of various stakeholders are just as critical.”
A good deal, he has learned, is not only defined by the price but by the future it provides for the company, its employees and the family that built it, which is changing the role of M&A and FDD advisors everywhere. Closing demonstrated this philosophy in action this quarter when supporting Pascale Azzam in Synaco’s takeover.
Top M&A and FDD advisors and firms of Q2 2026
This environment of enhanced diligence, advisory integration and strategic deal steering is directly reflected in the Q2 2026 League Tables. Based on data from Dealmakerdata.be – Belgium's fast-growing database tracking announced transactions and the sponsors behind them –, these were the firms and financial professionals leading transaction execution from April to June 2026.
Note that what follows is not a definitive list of top performers, but rather an overview of what firms and professionals were most visible on Dealmakerdata.be in the second quarter of 2026.
BDO Belgium and Finvision tied for the top spot at the firm level, each completing 18 transactions and demonstrating a high-frequency advisory presence across mid-market deals. Closing came in third with nine deals, while Eight Advisory Benelux and VDP tied in fourth with seven deals each.
Read also:
- Aertssen Group acquires Ghent Dredging to expand infrastructure and environmental services
- Atlas Copco acquires LVC Solutions from Initium, strengthening service network in East Belgium
- Belgium and French REITs join forces in friendly, all-share merger
- Zidis partners with Akiles Investment Fund
Finvision partner Christophe De Paepe dominated the individual dealmaker rankings, advising on 16 of Finvision’s 18 recorded deals. Laurent Linkens (VDP) and David Franeau (Closing) followed, tied in second place with seven deals each.
Overall, deal volume this quarter increased slightly compared to the previous quarter. In addition to volume leaders in the mid-market, the industry saw several large deal values submitted to the database. Lazard Belgium registered the single largest advisory mandate submitted this quarter, valued at €2.05 billion, while Toon Peeters (Deloitte Belgium) advised on a corporate transaction valued at €100 million. Johan Verstraeten (Kumulus Partners) also logged a major mandate valued at €87.50 million.
As deal structures grow more technical and macroeconomic pressures continue, the Q2 rankings highlight an advisory landscape in which competitive advantage will belong to the financial architects who pair operational rigour with the relational skills needed to turn tentative negotiations into closed transactions.
Read also:
- Top legal firms and dealmakers driving strategic M&A in Belgium (Q2, 2026)
- The private equity paradox presented by the deals of Q2 2026
Disclaimer
The League Tables are always a snapshot in time. As a result, the published results on MandA.be may differ from what is shown on Dealmakerdata.be at a later date. The online version on Dealmakerdata.be always reflects the most up-to-date status.
Please keep adding your deals to the database. The deadline for the Q3 League Table submissions is 16 October 2026.
Do you have questions or need assistance? Our deal team is ready to support you.
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