For Belgian M&A professionals, a major transaction in the synthetic turf sector may signal new regional momentum. TenCate Grass Holding B.V., the Dutch-based global player in artificial grass systems, has announced the acquisition of Belgium’s Sports & Leisure Group N.V. (SLG) in a deal involving the purchase of all SLG shares from Sun Capital Partners and other shareholders.
As part of the transaction, SLG’s senior management will reinvest a portion of the proceeds into TenCate, underlining long-term commitment to the combined entity.
TenCate CEO Michael Vogel emphasizes the strategic rationale behind the deal: “The acquisition strengthens TenCate’s footprint in key European markets. With SLG’s brands, including Domo Sports Grass and Limonta Sport, we significantly expand our reach into Southern Europe, the Middle East, Africa, Southeast Asia, and Latin America. We’ve known SLG’s team for over a decade and see strong alignment in capabilities and values.”
John Penninck, CEO of SLG, echoes the sentiment: “We share the same strategic vision and corporate culture. This partnership feels like a natural evolution and an exciting new chapter for SLG.”
Both companies are vertically integrated producers and installers of synthetic turf for sports and outdoor living applications. While TenCate is headquartered in the Netherlands, SLG brings deep operational roots in Belgium and a production network extending to Italy, China, and Paraguay.
Legal counsel for TenCate was provided by Stibbe (Brussels and Amsterdam) and Latham & Watkins (New York), while SLG was advised by Eubelius (Brussels) and Weil, Gotshal & Manges (London).
