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Straco Private Equity has completed the sale of Agaris Horti to Evergreen Garden Care, the companies announced.

Brantsandpatents has strengthened its Benelux intellectual property platform with the acquisition of Merk-Echt, a leading trademark practice in the region.

The Belgian Competition Authority (BMA) has granted conditional approval for the takeover of Cofinimmo by Aedifica, the regulator announced on 21 January 2026.

International equipment distributor BIA Group has announced the acquisition of BPM Construction, a leading French distributor serving the construction and extractive industries.

Belgian IT consultancy Dynapps, based in Geel, has acquired Spanish IT company Indaws, a specialist in Odoo ERP implementations.

European pallet specialist PGS Group has expanded its European footprint into Italy through the acquisition of Beretta Pallets, a long-established family-owned company based in Mapello, near Bergamo in the Lombardy region.

Kolsquare, the influencer marketing brand of team.blue, has acquired Storyclash, a leading influencer marketing technology in the DACH region.

team.blue has made a strategic investment in Windsor.ai, strengthening its SaaS portfolio and reinforcing its focus on AI-driven tools for European small and medium-sized businesses.

European investment firm Gimv, together with EQT Life Sciences as co-lead investor, has led a 51 million euros Series B financing round for Exciva GmbH, a neuropsychiatric drug developer based in Heidelberg.

Hermans Heftrucks has announced the acquisition of Allift Michielsens, a move that strengthens its presence in the Port of Antwerp and broadens its offering in lifting and material handling solutions.

Whether he’s tuning up his Bobby Ewing-era Mercedes SL convertible for a weekend rally, or considering mergers and acquisitions in Belgium’s business landscape, Age Lindenbergh finds satisfaction in patience, preparation, and personal attention to detail – qualities he believes still lie at the heart of great dealmaking.

Belgian IT services provider On IT has announced the acquisition of Colibri Consulting, a Leuven-based specialist in security, identity management and network solutions for complex IT environments.

Investment firm Gimv has agreed to sell its majority stake in ALT Technologies to CCL Industries, the world’s largest label producer. The transaction is subject to customary closing conditions, including regulatory approvals.

Belgian IT services provider On IT has acquired XDnet, a well-established IT partner based in Diest.

Belgian bookseller Standaard Boekhandel has acquired Standaard Uitgeverij, the country’s leading comics publisher, reuniting two companies whose histories have been intertwined for more than a century.

Belgian bicycle leasing specialist Cyclis Bike Lease is expanding its operations with the acquisition of the entire bike leasing portfolio of VDW Lease, based in Aartselaar.

Belgium remains a solid and resilient economy, but a recent report by Eight Advisory makes clear that strong foundations alone are no longer enough. The country’s challenge is to convert its assets into growth, innovation, and long-term resilience.

European cybersecurity scale-up Aikido has raised 60 million dollars in a Series B funding round, reaching a valuation of 1 billion dollars and securing its place among the continent’s fastest-growing tech unicorns.

The Dutch MSP platform Your.Cloud has completed its first acquisition in Belgium, taking over IPSys Solutions, a Belgian provider of telecom and IT services.

Ghent-based Corilus, the Belgian market leader in software for primary healthcare providers, has acquired its French counterpart Sofia Développement.

Brussels AI company Superlinear has raised 6 million euros in a Series A funding round to accelerate the development of its AI Operating System, Holon.

German mobility group Flix, the parent company of FlixBus, has agreed to acquire a majority stake in Luxembourg-based airport shuttle operator Flibco.

Belgian-Dutch media group DPG Media has acquired Mood for Magazines from Talpa Network. Mood for Magazines publishes the lifestyle titles LINDA. and LINDA.meiden.

Belgian food logistics specialist Sitra Group has acquired German peer Marlep Tanklogistik, marking another step in its ambition to become Europe’s leading food transporter.

Apheon has reached the 1.25 billion euros hard cap for its sixth flagship fund, Apheon MidCap Buyout VI (AMB VI), following strong investor demand.

Belgian ICT group VanRoey has acquired Sonical, strengthening its position as an established managed ICT services provider.

Belgian software studio Panenco has acquired Inect, an AI specialist based in Haasrode. The transaction strengthens Panenco’s positioning as an AI-driven software partner for scale-ups and corporates, while expanding its team to around 40 specialists.

Belgian communications agency Capone has acquired sector peer Revista, marking a new growth step for the Kortrijk-based firm.

After a cautious few years, global M&A is heading into 2026 with renewed confidence.

Dentons has appointed Cedric Degreef as Partner and Head of its Energy group in Belgium. He will be based in Brussels and lead the further development of the firm’s energy practice in the Belgian market.

These are the top 5 risks for the world economy that threaten to negatively impact the M&A-market this year.

Strukton Rail N.V. has acquired E. de Vuyst N.V., a Zottegem-based rail works specialist, further strengthening its position in the Belgian rail infrastructure market.

Telenet Group NV has completed the sale of its entire shareholding in Caviar Group, marking a further sharpening of its strategic focus on the Flemish media ecosystem and digital innovation.

KBC Securities and Van Lanschot Kempen Investment Banking have announced plans to merge their equities activities into a 50/50 joint venture, creating what they describe as a leading Benelux equities broker with pan-European specialisation in real estate and life sciences.

Anheuser-Busch InBev has announced that it has exercised its contractual right to reacquire the 49.9 percent minority stake in its US-based metal container plant operations from a consortium of institutional investors led and/or advised by affiliates of Apollo Global Management.

PIA Group has appointed Tom Verhaegen as its new Group CEO, marking an important milestone in the group’s evolution from a Benelux success story into a broader European platform.

team.blue has acquired Macaly, an AI-powered “vibe coding” platform that enables users to create full web applications by describing what they want in natural language.

The global market for mergers and acquisitions reached 4.5 trillion dollars (4,500 billion) in 2025, the highest level since 2021 and almost 50 percent more than a year earlier.

European cyber security group Integrity360 has expanded its presence in continental Europe through the acquisition of Cresco, a fast-growing cyber security services firm headquartered in Brussels.

While the Dutch optical market is already heavily consolidated, Belgium – where around 75 percent of stores remain independent – is clearly moving in the same direction.

Pharmaceutical compounding group Fagron has completed two strategic acquisitions and announced the receipt of a new licence in North America.

Belgian family-owned company Warsco has acquired German container specialist Bloedorn, marking a strategic expansion into the German market.

Mark Reid, CFO of the Proximus Group, will leave the Belgian telecom operator at the end of January 2026 to pursue new career opportunities in the UK, the company announced.

Fortino Capital has completed the final closing of its third private equity fund, Fortino PE III, at 700 million euros, exceeding its initial 600 million euros target.

Belgian insurance broker Callant has acquired 3 additional brokerage firms – Natel (Denderleeuw), Toulouse & d’Udekem (Ieper) and Findin (Landen and Tienen) – further accelerating its buy-and-build strategy backed by private equity investor Creafund.

European private equity firm Apheon has agreed to acquire a majority stake in Rubio Monocoat, a Belgian producer of sustainable wood protection solutions, marking the exit of investment firm Bencis from the business.

Belgian digital identity platform Itsme has acquired iDIN, a Dutch digital identification and login service, in a cross-border transaction between two bank-backed fintech initiatives.

Investment cooperative Horticoop has acquired a stake in Belgian company Anorel, a producer of water-soluble fertilisers for horticulture and agriculture.

FrieslandCampina has received final approval to proceed with its long-anticipated merger with Belgian dairy cooperative Milcobel, effectively resulting in the acquisition of Milcobel by the Dutch group.

The Belgian 2025 tax reform includes several measures which impact the Belgian M&A market and practice. This article highlights the main changes, their relevance, and some suggested recommendations.

Nyrstar has announced a proposed sale of its U.S. operations to South Korea’s Korea Zinc, a deal that would transfer ownership of the East Tennessee and Mid Tennessee mining complexes and the Clarksville zinc smelter.

Belgian healthtech startup Mindoo has raised 5 million euros in seed funding to scale its platform of AI agents designed to support healthcare teams with patient intake, documentation and follow-up.

In the run-up to the annual Private Equity Summit, MandA.be sat down with Thomas Lenné, Partner and Attorney at Law at Loyens & Loeff and one of the event’s speakers, to discuss the shifting landscape of Belgian M&A and private equity.

EyeCare Group has strengthened its presence in Belgium through the acquisition of three OPTIL optical stores in Brussels, marking its first entry into the capital. With this transaction, the fast-growing optical and hearing care group increases its Belgian network to 19 locations.

Belgian tech scale-up Trendtracker has secured 7 million dollars in Series A funding to accelerate the global rollout of its AI-powered strategic intelligence platform.

Qargo, the AI-powered transport management platform transforming Europe’s logistics sector, has raised 33 million euros in Series B funding as rapid adoption propels the company into new markets.

According to PitchBook’s 2026 EMEA Private Capital Outlook, Europe’s corporate landscape is entering a new phase: by the end of 2026, the number of PE-backed companies is expected to reach 2.3 times the number of publicly listed firms—an all-time high.

The newly released Ansarada Global M&A 2026 Predictions Report offers a timely and forward-looking perspective for dealmakers in Belgium and beyond.

Qatar Sports Investments (QSI), the owner of Paris Saint-Germain, has acquired Belgian second-division side AS Eupen, marking the end of a 13-year tenure under the Aspire Zone Foundation.

Antwerp-based maritime tech start-up Dockflow has secured 1.4 million euros in funding to evolve its logistics data platform from real-time container tracking into full predictive AI.

Craftzing expands capabilities with acquisition of AI studio Sagacify and service design pioneer Namahn.

KBC Group is investing 100 million euros in the Belgian start-up ecosystem through Start it @KBC, its long-running accelerator program.

Belgian insurance group Ageas has agreed to acquire the remaining 25 percent stake in its Belgian subsidiary AG Insurance from BNP Paribas Fortis for 1.9 billion euros, becoming the company’s sole shareholder.

The Belgian government intends to sell 20 percent of Belfius Bank’s shares. As a result, Belfius will soon shift from being fully publicly owned to having a partially privatized status.

Maxeda DIY – owner of the Brico and Praxis chains – is preparing to divest 10 company-operated stores across the Benelux region as part of a broader balance-sheet strengthening effort.

The M&A Awards – which took place on Thursday December 4 – is the annual landmark event for professionals working in M&A, corporate finance, private equity and venture capital.

On Thursday, 4 December 2025, the Belgian M&A world converged in dazzling style at Paleis/Palais 10 in Brussels for the eighth edition of the M&A Awards Belgium. Nearly 1,000 leading dealmakers – from corporate finance to private equity and venture capital – gathered under one roof to celebrate a year of transformative transactions, bold strategies, and visionary leadership.

6 top deals from 2025 were awarded and 1 dealmaker with the Lifetime Achievement Award.

Belgian renewable-energy company EnergyVision has acquired Turbulent, the Ghent-based developer of micro-hydropower technology.

Swedish SaaS provider Aceve is accelerating its buy-and-build strategy in the Benelux construction and installation software market with the acquisitions of Syntess Group in the Netherlands and KPD in Belgium. The deals mark Aceve’s second Dutch transaction—following its purchase of Brink Software last summer—and its first step into the Belgian market. Aceve was advised by White & Case and Axeco.

Leen Bakker Belgium was declared bankrupt on Wednesday, 3 December, by the court in Antwerp. As a result, the 29 Belgian stores that did not find a new owner will close permanently. The bankruptcy will lead to 250 job losses.

European HR and payroll provider SD Worx has strengthened its presence in Italy by acquiring a majority stake in Labour Consulting S.r.l., a payroll and labour advisory firm based in Reggio Emilia and Parma.

Belgian RegTech provider RiskConcile has strengthened its European platform with the acquisition of B4Finance, a Paris-based specialist in digital investor onboarding and fund-subscription software.

Brussels-based startup AILOS Robotics has raised 3.5 million euros in seed funding to bring its new class of robotic actuation technology to industrial scale.

Beaulieu International Group (B.I.G.) has sold its upholstery division, Tessutica, to GH Private Equity, the company announced on December 1. The transaction was completed on November 27, 2025.

Belgium’s private equity landscape is being rewritten from the bottom up – not by institutions, but by investors themselves.

Belgian fintech company POM is expanding its presence in Europe with the acquisition of Danish scale-up FarPay, marking a strategic move into the Scandinavian market.

Belgian infrastructure investor TINC, listed on Euronext Brussels, has announced a 100 million euros joint investment in parking operator Interparking, together with Infravest, the strategic infrastructure partnership between Gimv, WorxInvest and Belfius.

Van Lanschot Kempen publishes first Benelux Family Office Report, revealing a rapidly evolving and increasingly sophisticated sector.

European private equity investor Gimv has entered into a definitive agreement to acquire a minority stake in Equine Care Group (ECG), joining existing shareholder CNP, which remains the company’s lead strategic partner.

Innocens, a Belgian biotech spin-off from the University of Antwerp, has secured 1.5 million euros in funding to accelerate the commercial rollout of its AI-driven monitoring system for neonatal intensive care.

Only 15 of Leen Bakker’s 44 Belgian stores have found buyers, leaving the remaining locations likely heading for bankruptcy and signaling the end of the furniture chain’s presence in Belgium.

Belgium’s food and beverage (F&B) sector is experiencing a solid revival in M&A activity, according to Deloitte’s latest Belgian Future of Food M&A Snapshot.

Belgian data intelligence group Datasharp has acquired Woosmap, a leading French location-intelligence platform.

The appointment of Joost Schardijn as partner at Smile Sail marks a new chapter for the young investment firm. For him, too, it is a return to familiar waters: the world of software, strategy, and growth. “I wasn’t really looking for a new opportunity”, he says. “But then a headhunter reached out. The timing, the people, the ambition – it all just connected.”

Belgian IT services provider Amista has acquired the Dutch activities of Hoofddorp-based technology company Aarini.

Fagron strengthens EMEA leadership with acquisitions in Poland and Hungary and advances North American strategy.

Belgian investment company Gimv reported solid results for the first half of its 2025 financial year, driven by continued growth across its portfolio companies. The firm delivered a non-annualised portfolio return of 9.5 percent and booked a net profit of 126.9 million euros, or 3.4 euros per share. Gimv’s net asset value per share rose 6.3 percent to 53.9 euros.

EQT Future has agreed to acquire a majority stake in DESOTEC, the Roeselare-based leader in circular mobile filtration solutions. The deal will see EQT take control from Blackstone-managed funds, which will retain a minority share. German family offices Athos and Merckle will co-invest alongside EQT.

Mid-market company valuations in the euro area continued to fall in the third quarter of 2025, with the Argos Index® dropping 5.4 percent to 8.7× EBITDA – its lowest point since early 2017.

How did Moore Belgium become the largest independent accounting and consulting firm in Belgium through buy-and-build?

Belgian investment firm Smile Invest has acquired a majority stake in RB+ Fire Solutions, partnering with founder Robert Bijlsma and the company’s management team to back the next growth phase.

Dutch software provider Anchr has acquired Praclox, an IT company that develops software solutions for bailiffs and debt collection agencies in Gorinchem. With the deal, Anchr strengthens its position in the niche market for legal-administrative software.

AB InBev is preparing a major move outside its core beer business, with plans to acquire American punch producer BeatBox for roughly 700 million dollars.

Wereldhave Belgium has reached an agreement to acquire the Ville2 shopping center in Charleroi, marking a significant step in the continued rollout of its LifeCentral strategy.

Deerlijk-based Xinnix, a well-known manufacturer of frameless interior doors, has acquired Dutch distribution company Schreuder & Co.

What exactly does the new Belgian tax reform entail? And what consequences will it have for investors? Nicolas Bertrand and Erdem Yüksel from Loyens & Loeff explained it clearly during the Private Equity Summit 2025.

Belgian medtech company Nyxoah has secured financing commitments of up to 77 million US dollars to accelerate the U.S. commercialization of its Genio neurostimulation system for obstructive sleep apnea (OSA).

Belgian investor Marc Coucke’s Alychlo will acquire a 50 percent stake in a newly formed indoor-snow group created through the merger of Dutch SnowWorld and UK-based Snowcentres. The other half will be held by Snowcentres’ existing shareholders.

Europe’s private equity (PE), venture capital and infrastructure sectors are showing renewed confidence, according to the 2025 Pan-European Private Equity Market Sentiment Report published by Invest Europe and global consultancy Arthur D. Little.