Finvision leads Dealmakerdata.be's Q3 M&A and FDD advisory rankings in a quarter when advisory firms focus on Scale, strategy and data.
The firms that advise on Belgian deals and appeared in this quarter's M&A and FDD League Tables spent Q3 doing deals of their own. Finvision agreed to merge with VGD, Eight Advisory added a strategy practice, and EY-Parthenon brought in data and AI expertise for strategy and M&A. Each move answers the same question: what will clients value most from their advisers in the years ahead?
Finvision and VGD are a good example. VGD CEO Koen De Staercke frames the deal around what clients will keep paying for. “We are building a high-performing and future-proof organisation where technology and data-driven insights enhance rather than replace human expertise,” he says. “This enables our professionals to spend more time where they create the greatest value: maintaining close relationships with clients and providing high-quality advice.”
This reinvention comes as clients increasingly look for advisers who bring reach, strategic depth and data, and who stay involved before, during and after a transaction. It also provides an important advantage in a competitive market – as evident from the new entrants in this quarter's M&A and FDD league tables.
Top M&A and FDD advisors and firms of Q3 2026
Finvision holds the top spot for another quarter with 11 deals, and Eight Advisory climbs from fourth to second with the same seven deals. VDP stays in the top five with four deals, while PwC and Closing also keep their places in the top 10, each with three deals.
The Q3 league tables are an overview of the legal firms and professionals most visible on Dealmakerdata.be, ranked by number of deals. They are not a definitive list of top performers.
Among individuals, Finvision's Christophe De Paepe remains the most active dealmaker with eight deals. Eight Advisory's Pieter Wygaerts moves up to second with five, and VDP's Laurent Linkens follows with four.
Several sizeable mandates were also submitted to the database this quarter. Pieter logged the highest combined value of any individual in the top 10, at €1.03 billion across five deals. EY's Sievert Ver Eecke and Deloitte's Koen Clukkers each made the list on a single mandate, valued at €800 million and €280 million, respectively.
Three ways to earn the mandate
Half of the top 10 is new this quarter. LDS Advisory, KPMG Belgium, SDM Corporate Finance Group, EY-Parthenon and Oaklins all enter the rankings. Among individuals, Stijn Potargent (3), Thomas Roelens (2), Dirk Marckx (2) – as well as Sievert and Koen – are all new to the table, too. This highlights how many firms are competing for Belgian mandates and why consolidation or reinvention has become commonplace among M&A and FDD dealmakers.
Moreover, the quarter's mandates show how wide the top 10's work ranges. At one end are family and founder transactions: VDP advised the shareholders of Ghent restaurant chain Amadeus as Alychlo took a majority stake, and Closing supported Pascale Azzam in handing Synaco to two former Firmenich executives, as well as advising on the round that brought new investors into the fifth generation of Les Carrières de la Pierre Bleue Belge.
At the other end are sponsor deals. Eight Advisory carried out financial and technical due diligence for Strada Partners on the sale of Toba, while EY and EY-Parthenon covered financial, tax, commercial and technology workstreams on Bridgepoint's investment in Lansweeper.
Serving both ends calls for a combination of three things:
- Scale – Finvision's merger between equals with VGD, backed by Sofindev, will create a firm of about 750 professionals and 21 offices across Belgium, subject to competition approval. The logic is reach: a national footprint close to the family businesses and SMEs that generate much of Belgium's deal flow. "Only by enabling our people to grow can we continue to help our clients navigate their challenges," says Finvision CEO Dieter Engelen.
- Strategy beyond the transaction – Eight Advisory hired Jens Pauwels from KPMG to build a Belgian-Dutch strategy practice linking transactions, transformations and turnarounds. The bet is that clients want advisers who stay with them before and after the deal, not just during it. "Commercial success starts with clarity," Pauwels says.
- Data – EY-Parthenon, one of the firms new to this quarter's top 10, hired Leon Cheung from BCG Platinion as senior consultant for data and AI in strategy and M&A. The role reflects how sponsors and corporates now use analytics across the whole deal lifecycle, from shaping an investment thesis to digital due diligence, post-merger tech integration and value creation. Cheung describes his remit as "helping unlock value at the intersection of strategy, transactions and AI". If that model spreads, data becomes part of the advice itself rather than a supporting tool.
As the advisory market consolidates and new entrants compete on technology, the Q4 tables may look different again.
Read also:
- Q3, 2026 League Tables: Independent firms set the pace as bigger strategic questions reach the boardroom
- Q3, 2026 League Tables: Belgian private equity doubles down on what it already knows
- 2026 Q2 League Tables reflect new skills required for M&A and FDD
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 Q4 League Table submissions is 9 January 2027.
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