The minority stake in the Hannecard Group is a perfect illustration of the type of companies in which BNP Paribas Fortis Private Equity wants to invest. A Belgian company that operates worldwide in a niche market and is fully committed to the international growth and improvement of its services.
Founded in 1896, Hannecard in Ronse is one of the leading suppliers in Europe of industrial roller and roller coverings in rubber, polyurethane, composite and carbide in a wide variety of industries. Among other things, it developed a revolutionary coating system for beverage cans.
The company was looking for a reliable partner to start a new growth phase. Thanks to this participation, Hannecard will be able to fully focus on sustainable and responsible growth in the future, both locally and internationally. Flexibility and quality are top priorities, but sustainability also plays an essential role. Three values that convinced BNP Paribas Fortis Private Equity to invest in this ambitious Belgian company.
BNP Paribas Fortis firmly believes in this way of investing to support the Belgian economy. The venture capital budget was therefore doubled from 500 million to one billion euros.
“We have been Hannecard’s preferred banker for many years and have an excellent relationship”, says Raf Moons, Head of BNP Paribas Fortis Private Equity. "But it is their strongly supported growth plan that has convinced us to take a stake. Hannecard is a solid Flemish SME with the potential to become a global player. With innovative ideas, technological improvements and new product developments, they are steadily conquering a global niche market. This is a story we like to be part of."
Read the article that appeared in De Tijd on 10 February 2021 (in Dutch only).
Private Equity Awards 2023: discover the nominated companies
On 11 October 2023, we will be presenting the Private Equity Awards together with the BVA. Thanks to the support from private equity, the nine nominees all made good progress. Who are the contenders?
The Private Equity Awards reward Belgian companies that have received support from a private equity or venture capital investor for their growth and development, in three award categories: 'venture capital', 'growth' and 'buy=out'. The nine finalists were nominated based on criteria such as sustainable growth, authentic leadership, and shareholding.
This is the sixth time BNP Paribas Fortis has organised this prestigious award ceremony together with the Belgian Venture Capital & Private Equity Association (BVA).
The nominees in the 'Venture company of the year' category
This category is for young companies that develop and market an innovative product or service with the support of a venture capital investor.
- Agomab, a biotechnology company working on reversing disease processes and repairing damage to the body and organs.
- Aphea.bio, a spin-off of the Flemish Institute of Biotechnology (VIB) and its partner universities, UGent & KU Leuven, which is committed to a safe and healthy food chain and a sustainable and profitable agricultural sector.
- Dualyx, a biotech company that aims to efficiently modulate the immune system to suppress unwanted autoimmune reactions in patients with difficult-to-treat autoimmune diseases.
The nominees in the 'Growth company of the year' category
These are companies that have significantly expanded their activities through organic growth or acquisitions. They bring a financial partner on board who does not want control.
- Biobest, one of the world’s leading companies in the field of natural pollination and crop protection through organic control.
- UgenTec, a software provider for laboratories active in molecular biology.
- Ecosteryl, a market leader in the handling of contaminated medical waste.
The nominees in the 'Buy-out company of the year' category
These companies are achieving growth through committed management and with the support of a private equity investor with a controlling stake.
- Trustteam, an IT partner for companies that offers total solutions in the areas of infrastructure, software, security and communication.
- Veldeman Group, a company in the construction sector offering solutions for setting up modular, dismountable infrastructure.
- VK, a multidisciplinary design firm offering both architectural and engineering expertise for the construction industry.
Want to know more about the nominees? Read the press release.
To be continued… We’ll be sure to let you know when the winners are known.
Mel de Vogue of Etex is the ‘Trends CFO of the Year 2023’
Mel de Vogue, CFO of the Etex building materials group, accepted the award at Brussels Expo on 24 May, succeeding Karim Hajjar of Solvay. Mel de Vogue joined Etex as CFO in 2015 and was instrumental in laying the foundation of the new strategy adopted by the company a few years ago.
copyright Leyla Hesna
Focus on sustainability
"The then CEO, Paul Van Oyen, understood very early on that sustainability had to be at the heart of the strategy and that this had to translate into divesting some activities and adding others," says de Vogue. Etex sold a number of businesses and eliminated EUR 1 billion in debt. This strong financial position allowed the company to make a major acquisition last year. Etex put EUR 1 billion on the table to acquire Spanish insulation specialist URSA. The finance department, which employs almost 600 people, played a central role in these operations.
At the same time, de Vogue worked to internationalise and feminise his department. Of the twelve directors, there are now five foreigners and three women.
De Vogue won out over four other strong candidates: Alessandro Mazzocchetti (Odoo), Frédéric Deslypere (Sibelco), Nadine Aerts (SD Worx) and Ann Desender (Barco).
WDP wins the 'Deal of the Year 2023'
For the fourth time Trends also awarded a 'Deal of the Year' award. All mergers, acquisitions and capital operations involving a Belgian company in 2022 were eligible. The most important criterion is the financial and strategic added value that the operation created for the stakeholders.
There were five deals in the running, and the one from WDP emerged as the winner. Last year, the real estate company raised EUR 300 million of fresh money – in difficult market conditions. As a result, WDP can finance its future projects without causing its debt ratio to rise sharply.
Elke Toye of Vyncke is 'CF'Hope of the Year 2023'
With this brand-new award, Trends highlights a young CFO of a promising medium-sized company that is experiencing significant growth. Elke Toye, CFO of the West Flemish family company Vyncke, was the lucky winner.
Vyncke designs industrial incineration plants that convert residual streams into green energy. These are large projects involving large sums of money and long lead times. Financial risk management is therefore Elke Toye’s most important task. In her finance department, the CFO prefers to focus on one major project per year. 2023 is dedicated to preparing reporting on ESG (Environment, Social, Governance) sustainability criteria.
Since 2012, BNP Paribas Fortis and Trends have been putting the spotlight on the exceptional qualities of a CFO of a top 500 company in Belgium. Later, the crowning of the 'Deal of the Year' was added, and since this year a 'CF'Hope of the Year' has also been chosen. Virginie Martens, Head of Corporate Coverage Belgium at our bank, was a member of the jury.
Congratulations to the winners and to all the other candidates! Because rewarding and encouraging contributors to our economy is also Positive Banking.
Who will be the new Trends CFO of the Year?
On 24 May, we will know who will be succeeding Karim Hajjar, CFO of Solvay, as the 12th CFO of the Year. The jury also selected 5 deals with a chance to win Deal of the Year. New award: the CF'Hope of the Year.
CFO of the Year
With the CFO of the Year award, Trends and BNP Paribas Fortis highlight the achievements of a Belgian chief financial officer for the twelfth time. The jury pays particular attention to the CFO’s professional knowledge and communication and leadership skills, as well as the contribution they make to the strategic management of the company.
The candidates for the title of ‘Trends CFO of the Year 2023’ are:
- Alessandro Mazzocchetti, CFO Odoo
- Mel de Vogue, CFO ETEX
- Frédéric Deslypere, CFO Sibelco
- Nadine Aerts, CFO SD Worx
- Ann Desender, CFO Barco
Deal of the Year
The Deal of the Year rewards a particular transaction (merger or acquisition, capital increase ...) by which a Belgian company has particularly distinguished itself in the course of 2022. The jury will draw up a list of five deals from which a winner will be chosen. The most important criterion is the financial and strategic added value that the operation created for the stakeholders. The award is being presented for the fourth time.
The nominees for the 'Trends Deal of the Year 2023' are:
CF’Hope of the Year
With this new award, Trends and BNP Paribas Fortis highlight a young CFO of a promising medium-sized company that is experiencing significant growth. The jury's preference is for a CFO working in a private company controlled by Belgian capital. Key criteria include financial and management experience, strategic vision, communication skills and adaptability.
The candidates for the 'CF'Hope of the Year 2023' are:
- Karolien Vlassenroot, CFO Caminogroup/Durabrik
- Cecile Cornez, CFO Tilman
- Elke Toye, CFO Vyncke
The winners will be announced in Brussels Expo on 24 May. Virginie Martens, Head of Corporate Coverage Belgium at BNP Paribas Fortis, is a member of the jury.
We wish all candidates the best of luck! Rewarding and encouraging people and businesses that contribute to our economy, another example of Positive Banking.
BNP Paribas Fortis Private Equity supports AstriVax with start-up capital
With EUR 30 million in raised start-up capital, the Leuven biotech company AstriVax can further develop its vaccines. This is the largest amount of start-up money ever raised by a KU Leuven spin-off. BNP Paribas Fortis Private Equity is one of the investors in this innovative Belgian company, which can now shift up a gear.
Tackling challenges in vaccinology
AstriVax focuses on the development of innovative vaccines, both preventive and therapeutic. With the start-up capital raised, the company will clinically develop its first thermostable yellow fever vaccine and further develop its candidate vaccines against rabies and chronic hepatitis B.
The company is building a highly innovative plug-and-play vaccine platform for this, based on the ground-breaking work done by co-founders Professor Johan Neyts and Doctor Kai Dallmeier from the KU Leuven Rega Institute. In this way, AstriVax seeks to design and produce vaccines faster and more cost-efficiently. The aim is to combine long-term protection with thermostable production, which requires no cooling. This makes it easy for vaccines to reach patients, even those in tropical and subtropical areas.
Ground-breaking scientific work with social relevance
In addition to BNP Paribas Fortis Private Equity, PMV, Thuja Capital, Ackermans & van Haaren, OMX and the KU Leuven Gemma Frisius Fund are all participating in this financing round, led by V-Bio Ventures and Fund+.
"The Rega team has done fantastic scientific work in recent years, which they can now turn into valuable medical products. Investing in innovative companies with a strong social vision and promising potential, is perfectly in line with our Private Equity strategy", says Raf Moons, Head of BNP Paribas Fortis Private Equity.
- BNP Paribas Fortis Private Equity participates in Hannecard
- Private Equity Awards 2023: discover the nominated companies
- Mel de Vogue of Etex is the ‘Trends CFO of the Year 2023’
- Who will be the new Trends CFO of the Year?
- BNP Paribas Fortis Private Equity supports AstriVax with start-up capital
- See all news