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.
Champagne, anticipation & a full house
The evening began with a sparkling champagne reception, where the buzz of high expectations filled the majestic hall. With 950 guests in attendance, as proudly announced by Charlotte Declercq, M&A Community Manager, the event reaffirmed its place as the flagship gathering for Belgium’s dealmaking elite.
This year, the M&A Community sets its sights on two ambitions:
• broadening engagement with private equity, including a third edition of the highly successful Private Equity Summit;
• deepening connections among corporates and M&A Directors with tailor-made events and exclusive roundtables.
“Our commitment remains unchanged”, Charlotte said. “Connecting dealmakers and sharing valuable insights across the Belgian M&A Community.”
Setting the stage
Charming host Xavier Taverne welcomed the audience and set the tone: tonight was about celebrating success; every deal, every effort, every team that shaped Belgium’s transactional landscape.
Thanks to Principle Partner Ansarada, Platinum Partner PwC, and a strong ensemble of company partners, the stage was set for an evening of recognition and inspiration.
Before the awards, jury chairwoman Lieve Creten explained the rigorous selection process. Supported by research from Vlerick Business School, the jury evaluated each eligible deal – announced between 1 October 2024 and 30 September 2025 – on value creation, originality, complexity, financing, strategic impact, and leadership. Independence was paramount: any jury member with ties to a nominated transaction abstained from voting.
With criteria this thorough, the anticipation reached a crescendo. 7 awards awaited – 6 for exceptional deals and one special Lifetime Achievement Award.
THE 2025 WINNERS
Best Venture Capital Deal – Life Sciences 2025
Winner: AstraZeneca acquires EsoBiotec
A strategic acquisition with human impact at its core, AstraZeneca’s purchase of EsoBiotec promises to accelerate access to next-generation cell therapies for cancer patients.
Jury member An Vermeersch (Gavi) praised the deal as a milestone in innovation and a tribute to Belgium’s vibrant biotech ecosystem. “This acquisition shows strong confidence in EsoBiotec’s platform technology and supports AstraZeneca’s ambition to deliver next-generation immunotherapies.”
Best Venture Capital Deal – Technology 2025
Winner: Aerospacelab’s 94 million euros funding round
Aerospacelab’s major financing – combining a 56 million euros Series B extension and a 38 million euros EIB loan – positions the company as a powerhouse in Europe’s space industry.
Jury member Pierre Demaerel applauded the company’s trajectory and its visionary founder, Benoit Deper. The upcoming mega-factory in Charleroi, set to produce over 500 satellites per year by 2027, embodies European strategic sovereignty and industrial ambition.
Best Mid Cap Private Equity Deal 2025
Winner: Sofindev Management exits Companyweb
After 7 years of partnership, Sofindev’s exit from Companyweb crowns a period of exceptional growth. Jury member Professor Sophie Manigart highlighted the company’s transformation into a scalable SaaS platform with strong recurring revenues and a modernised tech backbone.
The result? A purely organic doubling in size – and a compelling case study in strategic private equity stewardship.
Best Large Cap Private Equity Deal 2025
Winner: Bencis Capital Partners & shareholders partially exit Equine Care Group
From a single equine hospital to a 100-million-euro market leader in under 5 years: Equine Care Group exemplifies bold vision and disciplined execution.
Jury chair Lieve Creten emphasised the deal’s lasting impact: securing a new long-term partner, CNP, and ensuring the continued success of the vet-led model, with positive repercussions for equine welfare worldwide.
Best Mid Cap Corporate Deal 2025
Winner: Arrive acquires Be-Mobile
Praised for its strategic relevance and significant complexity, this 175 million euros acquisition unfolded during a leadership transition at Proximus. Jury member Michaël Sephiha (De Tijd) highlighted the deal’s intricacies: 2 consecutive transactions, a major carve-out, and alignment with Proximus’ broader strategy to focus on fiber infrastructure. A masterclass in corporate manoeuvring.
Best Large Cap Corporate Deal 2025
Winner: Sonaca acquires Aciturri
A defining moment in European aerospace: the union of metallic-structure leader Sonaca and composite-technology specialist Aciturri creates the world’s third-largest independent aerostructure player with 1.2 billion euros turnover and 6,500 employees.
“This was a moonshot”, said Yves Delatte, CEO of Sonaca – a bold idea that took 4 years of trust-building to realise.
The jury celebrated the deal’s alignment with Europe’s strategic ambitions for defense independence, industrial resilience, and greener aviation, as noted by jury member Renaat Berckmoes.
Lifetime Achievement Award 2025
Honouring Luc Bertrand
The evening’s emotional pinnacle was the Lifetime Achievement Award, bestowed upon Luc Bertrand, a titan of Belgian corporate finance.
For over 3 decades, Bertrand shaped Ackermans & van Haaren into a global force, championed patient capital, and helped build the foundations of today’s financial ecosystem through his role in Euronext.
His humility shone through on stage: “It’s the first lifetime award I get”, he said with a smile – prompting host Xavier Taverne to quip, “And hopefully not the last.”
Bertrand credited “patient work, great teams, and true partnerships,]”, adding that the world still excites him: “There are many new things”, he said, referring to the many innovation and new ventures presented during the award show. “I would love to continue as an investor.”
A festive finale
After the applause faded, 90 beautifully set dinner tables awaited the guests. They enjoyed a refined menu featuring:
• Ceviche of Zeeland kingfish with coriander, jalapeño and spring onion
• Veal fillet with Jerusalem artichoke, Belgian endive, portobello and tarragon coulis
A lively singing-and-dancing act electrified the hall during dinner, and the celebration flowed seamlessly into dessert; the perfect opportunity for guests to mingle, reconnect and revel in the atmosphere.
Sweet creations included:
• panna cotta with raspberry-pistachio
• forest fruit trifle
• chocolate “cappuccino” with crispy pearls
An animated live musical act carried the mood late into the night as Belgium’s finest dealmakers toasted a magnificent year – filled with ambition, innovation, and the enduring spirit of collaboration.
