References

S.air is the Belgian market leader in the design, calculation, production, installation and maintenance of building-related total solutions for SHEV (Smoke and Heat Extraction Systems in buildings, car parks and tunnels), daylight applications (skylights and domes), industrial ventilation and parking guidance. The company from Aalst - managed by Olivier Dons and Eddy Wybo - has a new shareholder in the Dermaut family. Nick Vandenbulcke will strengthen the management. Van Reybrouck, Lamote Stragier and MNA advised this transaction.

Shareholder Louis Van Haesebrouck acquires all the shares of co-owner Geert Legein, who is retiring. MNA facilitated the negotiations between both shareholders.

Hobbycenter Verkempinck has been active as a construction and timber market for more than 50 years and operates from Ostend. Lieselot Van Riet, together with her partner Hannan Mahmood, saw in this acquisition a unique and strategic opportunity to further expand Hobbycenter.

Brezan Autoparts adds Bucar Parts (Asse) to its own network. Bucar Parts has been active since 1987 and has grown into a reliable partner of many garage owners in Flemish Brabant and East Flanders. Bucar Parts houses 16 motivated employees who all go to Brezan Autoparts. In addition to supplying parts, Bucar Parts is also a respected partner for the supply of data, tools and training courses. With the arrival of Bucar Parts, Brezan Autoparts, subsidiary of teh Alliance Automotive Group & GPC, has 21 branches in Belgium (and 100 in the Netherlands). Business owners Bjorn Van Cauwenberghe and Manu Buysse will remain on board.

Perivo is a top-class supplier of technical parts, productivity improvement systems and consumables for flatbed die cutting machines that are used by customers in the carton packaging industry. Axel Moorkens and Amaury de Cordes will, together with Arent van de Sande (MBI), exploit the growth opportunities of this innovation driven niche pearl.

Francis and Ellen Vandenweghe - De Sloover, who recently took over Ellen's father's accounting firm, are able to further expand their client base through an intense collaboration with Jan Moens of Certifin.

West-Flemish professional kitchen builders Maes Inox and Bossuyt merge whereby the family investment company Vybros participates with a long-term vision in the new holding Bossuyt. MNA advised Bossuyt in this merger.

Caractère, the Belgian tour operator specialized in the ultimate travel experience in Southern Europe, has been acquired by 2 entrepreneurs Ilona Stieners and Wim Van Cauter. This ensures the continuity and independence of this beautiful, 40-year-old family business. MNA acted as advisor to the Van Den Bossche family.

Marelec (Nieuwpoort, Belgium) has been active in food processing since 1983 and has extensive experience and know-how with weighing and sorting systems applied to fish, meat and poultry. Reliable devices with the unique properties: robustness, high speed precision and adapted design. The company has an international network of agents - in more than 30 countries - that guarantees advice, smooth delivery and after-sales service. Enerco Inox (Nazareth, Belgium) is a construction workshop focused on the process industry, for the supply of non-serial end products, engineering and 2D & 3D CAD drawings. Ie tank construction, equipment construction, prefab and unit construction, various welding works and sheet metal processing such as cutting, bending, rolling, plasma and laser cutting, pickling, glass bead blasting in various materials (stainless steel, steel, plastics, etc.).

Vers d'Anvers, wholesaler of fruit and vegetables, acquires the niche player Fruit Vandepoel. Fruit Vandepoel differentiates itself from volume players by offering only the highest qualities available.

Prodim, a market leader and specialized distributor of industrial valves for corrosive applications, has been taken over by 2 entrepreneur-investors who will ensure the further growth of the company. It has an average turn over of more than 8 mio € with a staff of 20 persons. MNA advised the seller.

Arco, the specialist in cooling and freezing installations, supermarket installations, air conditioning / heat pump systems and air treatment, has acquired EBIC (Sint-Niklaas). Arco is a leading edge Belgian company with more than 120 employees and based in Lokeren, Evergem and Geel. EBIC has more than 25 years of experience in the rewinding industrial electric motors, installation of industrial pipelines, specific welding works, manufacturing of metals and stainless steel structures, etc. MNA acted as Arco's advisor.

Arco, the specialist in cooling and freezing installations, supermarket installations, air conditioning / heat pump systems and air treatment, has aquired Van Driessche Koeltechnieken. Arco is a top Belgian company with more than 100 employees and based in Lokeren and Geel. For more than 65 years, Van Driessche has been the top in industrial refrigeration equipment for foodstuffs, based in Evergem with around 20 employees. MNA acted as Arco's advisor.

Partners In Accountancy extends with this targeted acquisition its sector specialization. The acquired firm gains access to a larger pool of experts and increases its capacities to hire additional staff.

MNA advised the shareholders of Image Line in the acquisition proces whereby the private equity investment group Waterland acquired a majority stake in this Belgian company, the developer of FL Studio software. The software music production environment FruityLoops has more than 10 million users and adds yearly more than 1 million new users.

SE Contracting, part of SE Industries, has been acquired by VINCI Energies. The company specializes in mechanical constructions and pipelines for process installations. The company provides innovative technical solutions for storing, dosing, measuring, mixing and distributing liquids. SE Contracting, established in 1976, has its head office in Eke near Ghent and has 40 employees. MNA advised the seller on this transfer.

The family owned fashion group Gimbrère, having 7 fashion stores in the South of the Netherlands, has acquired the Belgian Marty fashion stores (Aalst and Sint-Niklaas, making a turnover exceeding 8 mio €). MNA advised the sellers.

Mavaro nv (Tessenderlo Belgium) has acquired the Belgian-Polish company ISAP nv/PolyMetall. ISAP/PolyMetall manufactures and distributes tailormade metal constructions such as gates, fencing, balustrades, stairs, etc in steel, aluminum and inox. Mavaro specializes in the design, production and assembly of balustrades, partition walls, wall caps and banisters. MNA advised the selling shareholders.

The Dutch Heleon Group, owned by Jan Timmer, has acquired its peer Gillain&Co. Gillain is marketleader in Belgium supplying stainless steel equipment and components for pharma and food companies. MNA advised the selling shareholders.

Midex Safety, the recent name for Cerva Belgium, is a fast growing distributor of safety wear in Belgium and Luxemburg. Midex Safety started in 2013 as a joint venture between the Czech Cerva Group International and the duo Davy Beke and Mik Deraeve. Mik Deraeve junior is the son of Mik Deraeve senior and both know the PPE industry very well. In order to maximize this potential, they decided to steer the ship in their own course and buy-out the other shareholder.

Management and ex-management acquired via an MBO the company Motion Planet, active in the construction of exhibition stands for companies such as Grands Moulin, Lu, Volys, Willy Naessens, Ter Beke, Averbode, Plantin-Tetterode, museums, etc.

Duranet is Belgian marketleader in the distribution of nets and tarpaulins to a large number of customers in many segments ( construction, sports and leisure, agriculture, transport, ...). A new shareholder has joined the capital with the purpose to organize the succession at the top and become the next leader of the company.

Accountancy Van de Perck, located in Antwerp, is a strong performer in the accountancy business. With this acquisition, Vandelanotte Accountants, a player with 200+ employees, further expands its presence in the Antwerp area.

Two MBI candidates acquired Immuno-Cell, a Belgian based company active in the Diagnostic Industry. The company supplies on a global scale specific accessories for use in diagnostic test kits.

Like a Virgin is a marketing and communication agency, founded in 2013 and characterized by the combination of excellent delivery and a fine-tuned and very active sales approach. CEO and co-founder Lieven Bonamie grew Like a Virgin quickly to an established marcom company with a loyal and differentiated customer base and excellent results. Basco acquires the company and will in team with the management further grow the company.

MINT Europe delivers advisory services in the area of subsidies and fiscal incentives. MINT Europe was founded in 2009 and has become today leader on the Belgian market with an organization of 25 consultants. The management and private equity provider Think2Act Partners take over the company from the original founders.

West-Inox, company specialized in the distribution of mounting materials has sold its assets to the Belgian entity of the Dutch Elcee Group, active in the distribution of amongst others castings, forgings, bearing technology, lifting technologyand mounting materials.

One of the partners sells his shares to the other partner of the accountancy firm.

Actio'Novo sells its activity in security (theft protection, fire detection, access conrtrol) to Korelec, in order to completely commit itself to automation.

A MBI candidate deploys his ambition to build a strong office in his region by the acquisition of a successful smaller accountancy firm.

Private equity player Falcon Fund acquires a stake in the M.E.x.T Group, a fast growing supplier of EHBO services and products to companies in Belgium, The Netherlands and Germany. Both founders will remain closely involved during the next growth phase.

Feniks Accountants, with offices in Brussels and Hasselt, strengthens its presence in Hasselt through merger with the accountancy office Yves Buckinx.

Chris Vuylsteke, with a turnover of about 45 million Euro, is one of the larger constractors in West-Flanders (Belgium) and builds appartments, office buildings, industrial buildings, parkings, and is also specialized in construction for the health care sector. The company was acquired by Eiffage Benelux, with a turnover of 600 million Euro and member of the Eiffage Group (14 billion Euro turnover). In order to strengthen its division Construction, Eiffage Benelux was looking for a strategic acquisition in West-Flanders in order to cover a blind spot in its geographical presence.

Floralux, the largest garden center in Belgium, acquires a majority stake in 'Tuinadvies', the most successful and most viewed gardening website in Belgium and the Netherlands.

An MBI candidate acquired the shares of Neirinck Stalinrichtingen, a company that produces and distributes cowshed equipment.

Albe De Coker, one of Belgium's leading offset sheetfed printers, acquired printhouse Bredero (Melle, Belgium). Printhouse Bredero is a niche player focused on very specific printwork.

Transport Verstraete is a specialist in the transport of building materials and delicate machinery. Through this acquisition, H.ESSERS reinforces the position and geographical reach of its daughter company Geertrans-Hellings which is active in the same niche.

2 investors acquired an interesting Retail real estate company.

Ecosynth is a leading Flemish 'Contract Researcher', focused on companies in life sciences, chemestry, food, energy,... For its further development, additional capital was raised.

An MBI candidate acquiered Willton, specialized in the sale and installation of parquet floors. MNA advised the seller.

Induver, an insurance broker with offices in Belgium (Antwerp, Gent and Hasselt), that insures companies, employees and families, has acquired Bosman Verzekeringen (Beveren, Belgium). MNA advised the seller.

A. Ainaut is an installation and maintenance company in the construction industry with extensive experience in glass work, roofing, plumbing and heating, active in parts of Wallonia, Brussels and and Flemish Brabant with a crew of 40 people. AGS Capital acquires the company and will be supported by a newly appointed operational manager.

The management of Bracke Bouw, a dynamic construction company active in cement screed (Zingem, Belgium), has been taken over by Benjamin Talpe. The future of this fast growing enterprise has been assured by his arrival.

Zen soft develops ERP software for small and medium sized companies and accountancy firms. It has built an impressive customer base over the last two decades. Trustteam is an ICT integrator offering infrastructure services, custom-made software and ERP software. By acquiring Zen soft, Trustteam strenghtens its portfolio and customer base in a significant way and evolves to an organisation with more the 100 employees, active in Belgium and France.

Perdum engineers and develops units for the control and automation of numerous functions in off-road vehicles, e.g. agricultural machinery. Its customers are manufacturers of highly specialised industrial equipment. After the acquisition by De Roeve Industries (Lokeren, Belgium), Perdum becomes a new business-unit within the division of Industrial IT.

HR ONE Pharma is project staffing service provider in the bio-pharmaceutical and medical devices industry in Belgium. MNA advised the main shareholder in the sale of his shares to the minority shareholder.

The Dutch group Verjo, a publishing house for educational material in the field of traffic and transport (and strategic partner of the German group VVR (Remagen)) has acquired the business unit Wees Wegwijs/Connaître et Conduire from the Belgian group Van In, a publishing house specialized in educational resources for all levels of education in Belgium (Van In is part of the Finnish group Sanoma). MNA advised the seller.

2 MBI candidates acquired IP TV Projects, an integrator of multimedia solutions and part of Defoort nv (Kuurne, Belgium).

Vecari (Zonnebeke, Belgium), a company active in infrastructural works, has been acquired by its competitor Jacops (Deerlijk, Belgium). MNA advised the seller.

Coelembier is active in interior design, production and installation, for both office and residential buildings. The company was founded in the sixties of the previous century and is managed by the second generation. The fast growth of the previous years has brought about new challenges. Via their holding Finterior, the family Ide, which has earned its stripes in amongst others Spanogroup (Mohawk), becomes co-shareholder. The intention is to strengthen the current management with the necessary knowledge and experience in order to support the next growth phase.

Balto, related with private equity group Sufina, acquires Link, a communication agency that serves Belgian sme's, industrial groups and stock quoted companies.

Venture capital fund Think2act invests in Thau (Herent near Leuven, Belgium), active in field marketing and brand logistics with focus on the do-it-yourself retail segment and consumer electronics. The company was founded in 2005 by Olivier Van Orshoven and Christian Peeters. Christian stays on board. The contribution of Think2act will be primarily to support Thau in its continuous growth in current markets (Belgium and Netherlands) and abroad.

Piet Lescrauwaet and Nicolas Decoster acquired Channel Sailing, located in Zeebrugge (Belgium) and active in the chartering of yachts. Carlos Vanhecke, founder and driving force behind Channel Sailing, remains closely involved in the further evolution of the company.

Steelvision (Belgium, Bruges region), a sheet metal working company that manufactures very thin sheet metal components for amongst others the lighting industry, has acquired P.I.D.E, a metal working company that supplies larger metal pieces to various industries.

DS Transport (Brussels), is a company that charters trucks with driver to large international logistical groups for the local and regional distribution of goods. In order to guarantee further growth, entrepreneur Paul Jacobs has acquired DST. MNA has accompanied the seller during the entire process.

Cartec SA (Anderlecht, Belgium) is a company producing transparent rectangular and cylindrical packaging solutions in PVC / PET for food and non-food applications. Cartec is market leader in Belgium and also sells its products in the neighbouring countries. Further growth and continuity are now ensured by the sale of the company to and management by Avon Invest NV.

Green Road, located in Wichelen (Belgium), is a company active in terrain and road renovation, and has a unique process technology that is based on ecologically and economically sound principles. In order to ensure further growth and strengthen the management of the company, entrepreneur Hans De Keyser acquired a stake in the company. MNA advised the owner during the whole transaction.

Sensotec is a growing company offering technology for visually impaired people. One of its areas of expertise are software solutions for dyslexia. Sensotec is market leader in Belgium but also increasingly sells its systems and technology internationally. The founders of Sensotec have ensured the continuity by a sale of the company to a young Belgian entrepreneur.

A MBI candidate reinforces the management of Alindus (Aalst), one of the major players in the market of personal protective equipment. Alindus is also the exclusive importer of Showa, a manufacturer of high quality gloves. With the entry of Frank Oerlemans, the further growth of Alindus is assured.

The partners of a Belgian mid size accountancy firm succesfully conclude 'management buy out' negotiations. From the start an MBO was their preferred option. This ensures the continuity and offers to key people a unique opportunity of becoming owner of an accountancy firm.

V-CONS engineers and constructs machinery for slaughterhouses worldwide. The company has acquired a solid reputation and competes succesfully on a global scale with large players in Germany, the Netherlands, France and Denmark. V-CONS was acquired by PIVACO, a specialist in stainless constructions and installations for food, beverage and brewery industry.

Leroy (Poperinge, Belgium), installer of heating & cooling systems, has been acquired by Fynk Vision. Leroy is innovative in heating and cooling techniques such as aero and geothermic captation and wall/floor/ceiling heating. With the support of Fynk Vision and Luc Leroy, Leroy will focus on further growth.

2 MBI candidates acquire Steelvision (Belgium, Bruges region), a metal working company that manufactures very thin metal components for the lighting industry, stand construction industry and others.

WILLEMEN GROUP (Mechelen, Belgium) comprises several companies active in the building sector, from suppliers and contractors to project developers with more than 1.000 people and a turnover of 300 M e. ASWEBO GROEP (Drongen, Belgium) is active in road construction with a turnover of 132 M € and a workforce of +/- 900 people. MNA facilitated this deal by attracting the necessary mezzanine financing.

Roland International produces tarpaulins for trucks and trailers and is one of the major players in Western-Europe. Roland also diversifies into other activities (e.g. covers for biogas installations, inflatables, ...). The company employs 160 people spread over its locations in Poland, United Kingdom and the Netherlands and realizes a turnover of 17 M.

Studiebureel Maes Projects is a consulting and engineering firm that specializes in civil engineering and coordination of large construction projects. Maes Projects merges with Studiebureel Boucherie that focusses on stability calculations and building techniques as HVAC and electricity. The new entity adopts the name BM Engineering and has 25 collaborators.

Transfer of Algrondbo to O.M.V. Natie. Both companies are active in horizontal boring and installation of utility lines (water, gas, electricity), located in East-Flanders (Belgium). Algrondbo realizes a turnover of about 12,5 M € and an EBITDA of about 3,5 M € with 130 personnel. The owner, Mr. Patrick Raemdonck will continue to lead the company for at least 2 years.

An MBI-kandidate has acquired LEDA. Leda produces and sells seats and coaches to small and medium-sized furniture and interior design shops through a network of independent agents. The company has been acquired by Francis Maselis and will be assisted by Edward Vande Vyvere who will be in charge of the daily operations.

IC&S is a machine builder that develops and builds complex conveying systems for the food industry.

The management of Elektrotechniek De Keyser acquired a stake in the company. De Keyser is an electrotechnical installation company, specialized in industrial environments.

Accent - Jobs for People - acquires a majority stake in Logi-Technic, active in outsourcing of technical profiles to production (maintenance, assembly, industrial removals) and installation companies (electrical installations eliminators). Logi-Technic has 220 employees and a turnover of 12 M €. The company operates from 4 sites the Flemish market.

Alpha Répartition acquired via a daughter company Alphar Partners 100% of the shares of Pharmacie Karreveld. Alpha Répartition distributes to independant pharmacies and helps pharmacists acquire their business. The turnover of the group amounted in 2007 to 285 M €, the group employs 250 people and is mainly active in the Frenchspeaking part of Belgium.

De Wilde acquired Pieters. Pieters, a company active in the building industry, located in Lebbeke (Flanders, Belgium), performs on the one hand road construction & earthworks and on the other hand recycles construction debris. Clients are exclusively private companies. De Wilde, a company located in Berlare (Flanders, Belgium) is active in flooring and exploits a concrete plant.

An MBI candidate has acquired a stake in Soft-Naert. Soft-Naert is an ICT company based in Izegem (Belgium) that develops ERP applications and customized software. The company also takes care of the integration and training. By joining the company, Patricia Vandelanotte strengthens the team with her large ICT experience and her extensive network.

Fabricom-GTI acquires ATV. Fabricom-GTI is the Belgian reference a the level of innovative technichal installations en services for industrial, energy related, tertiary en infrastructural markets. Fabricom-GTI is a part of the Worldwide Suez Group. ATV is a Belgian SME, active in electrotechnical automation and installation of photovoltaic cells.

Van Gansewinkel is specialized in collecting, transferring, recycling and processing all types of waste, employing about 6.500 people all over Europe. Milieu en Leven is a fast growing specialist in the collection, warehousing, transfer and transportation to recyclers of mainly hazardous waste. Milieu en Leven is active in Flanders and Brussels.

ISS Belgium is a part of the Danish multinational ISS, world leader in Facility Services. PCC is a Belgian family owned company, performing managed services in the ICT industry, with a staff of approximately 50 employees. For ISS, at that time already active in the area of managed services for ICT, the acquisition fits in a buy and build strategy

ATS Group is a multidisciplinary Technologygroup with 500 highly qualified people, 7 locations in Belgium and a consolidated turnover of 80 M EUR. Elektro Develtere performs electrical and electrotechnical installations for industrial companies, local authorities, hospitals, schools and rest homes. The company is located in Roeselare (Belgium) and has a staffing of +/- 20 people. The acquisition fits in the strategy to increase turnover in the province of West-Vlaanderen.

Alaska acquires accountancy firm Vercammen (Antwerp (Belgium), 19 employees). On the one hand, Alaska is a Belgian joint-venture between several Belgian accoutancy offices, employing about fifty personnel and on the other hand it is a member of the international group IGAF.

ISS Belgium acquires Van Kerckhoven. ISS Belgium is a part of the Danish multinational ISS, world leader in Facility Services. Van Kerckhoven is a Belgian SME, active in HVAC with focus on cooling installations in industrial and office environment. The acquisition fits into the strategy of ISS to extend its offering in what is called Property Services.

The management acquired LCMC, a Belgian company, active in machining with high precision, with a staff of +/- 40 people and a turnover of +/- 13 M €.

M. Beyne is a family owned enterprise that produces agricultural machines, located in Belgium with a staff of +/- 10 people and a turnover of 3 M €. Machinebouw Tanghe is a Belgian Company active in the production of textile machinery, with a staff of +/- 5 people and a turnover of +/- 2,5 M €.

Ariadne is a specialist in total solutions for electrical automation. The company has three sites and serves the Belgian, Netherlands and German market with 50 highly qualified employees. The acquisition of De Vos Electrotechnics represents a significant reinforcement in the segment of industrial electrotechnical installations.

An MBI candidate acquired Stanza, a company that fabricates specialized cutting-dies with which cardborad and synthetics metrials are being cut into special shapes.

Ranson Acquired Erens. Ranson is the number one in the distribution of bakery ingredients in Belgium with a turnover of 80 M € and about 100 employees. Erens is the number two in the branch with a turnover of over 10 M €. Erens serves the market in an important part of the Limburg province as well as in a part of the Luik province. For Ranson, the acquisition implies a significant increase in its geographical covering of Belgium.

Private equity providers invested in PR Pharamceutcials, an innovative company that develops produces and distributes drug delivery solutions. The company employs more than 50 highly qualified personnel. Due to the Flemish roots of the CEO of the company, some Flemish private equity providers invested in this pharmaceutical company.

Poppies SA, a family group active in the production of cookies and frozen desserts with offices in Belgium, France and the United States employs approximately 450 people and has a turnover of about 70 M €. Jeannette SA is a manufacturing company in northern France that produces filled wafers.

Corelio is a multimedia group and is amongst others the largest editor of newspapers in Belgium with titles such as De Standaard, Het Nieuwsblad en Het Volk. De group realizes a consolidated turnover of 225 M € with 1.300 employees. The group Vers l'Avenir (Mediabel) comprises besides 5 regional newspapers also the national newspapers La Libre Belgique and La Dernière Heure.

Het Computerwinkeltje is active in the sale of computerbooks, software and hardware accessories. The company employs about 30 people and realizes a turnover of about 15 M €. Aletra Capital Partners is a private equity player and is supported in this acquisition by management buy in Investor Patrick Tournoy.

Open up the shareholdership of an engineering company to new partners by means of sale of shares, a cooperative society and a special purpose company form, "Vennootschap van onroerende Diensten(VOD)".

An MBI candidate acquires Silicon Group, a system integrator, located in Bruges (Belgium), with a turnover of 3 M € and 18 employees.

Corelio is a Belgian multimedia group and is amongst others editor of newspapers such as De Standaard, Het Nieuwsblad en Het Volk, with turnover of 170 M € with about 1.000 employees. VTM is a Flemish television broadcasting company with a turnover of 125 M € and a staff of over 250.

Corelio is a Belgian multimedia group and is amongst others editor of newspapers such as De Standaard, Het Nieuwsblad en Het Volk, with turnover of 170 M € with about 1.000 employees. It acquired the comic book publisher "Stripuitgeverij Jommeke".

Corelio is a Belgian multimedia group and is amongst others editor of newspapers such as De Standaard, Het Nieuwsblad en Het Volk, with turnover of 170 M € with about 1.000 employees. Het Volk realizes a turnover of 55 M € with a staff of 500 and publishes besides its daily newspaper also the magazines Tv-gids, Zondagsblad and Eos and the comic books of Jommeke.

MNA advised the sale of an environmental advice bureau to an investor.

Corelio, a Belgian multimedia group and editor of different newspapers, acquired a majority stake in The Ring Ring Company, the second largest Belgian audiotex company.

Preparation of an international tranaction of a specialized software house, with advisory services such as review of the budget of the EU and US divisions, valuation, drafting of a long list of potential buyers and outlining possible deal structures. The company develops standard application software for logistics service providers, has a turnover of 5 M € and a headcount of 40.

Buyout of the majority shareholder by an industrial minority shareholder in the aviation industry, more specifically active in the repair of aircraft engines.

Acquisition of 2 accountants firms in Flanders (Belgium), realizing the expansion strategy of a local Belgian player.

Overdracht bedrijf in de reinigingssector dat ongeveer 150 personen tewerkstelt.

Sale of a specialized, thematic, advertising oriented magazine to Sanoma Magazines, part of the Finnish Sanoma group.

Management buyout of a ICT systemintegrator (hard- and software).

Management buy-in for a company, specialized in the development and implementation of CRM-software.

Sale of contractor, specialized in Heating, Ventilation & AirConditioning (HVAC) and sanitary installation.

Sale of a specialized company active in the foundation industry to a competitor.

An investor acquired a majority stake in a production company of frozen bakery products.

Sale of a company in the travel industry, acting as an Incoming agent (Brussels).

Sale of an accountants firm in West-Flanders (Belgium).

Acquisition of a Tv-commercial production company.

Acquisition of an accountancy firm.