M80 is an investor in companies in Benelux and France. We seek out ambitious companies that embrace change and we work with them to create and realise their potential.

Our diverse international team of entrepreneurs, former CEO’s, private equity professionals and digital pioneers will inspire, challenge and support companies to generate meaningful value for their customers, employees, owners and investors.

Investment
criteria

We don’t care whether you’re a market leader or not. We invest in companies with a unique mindset, ready to challenge the status quo, in sectors such as consumer, healthcare, business services and manufacturing.

Across Benelux and France we typically focus on companies that have sales between €25m and €300m, EBITDA between €5m and €30m and an enterprise value between €25m and €250m. Our preferred investment range is 10 – 60 million in equity. We are open to transactions where we can be a significant shareholder or the leading investor, aligning closely with founders or family shareholders and management. We steer away from real estate, R&D based life sciences, pre-commercial technology and companies that do not fit with our values and those of our investors.

The M80 team

We are a balanced mix of successful senior managers and deeply experienced private equity and M&A professionals. Most of us are also entrepreneurs, having started and built companies. We embrace digitization – we have used it to transform companies and to improve our own daily lives.

peter-maenhout

Peter Maenhout

Partner/CEO
pieter-vermeersch

Pieter Vermeersch

Partner
jehanne-de-walque

Jehanne de Walque

Partner/CFO
carl-annicq

Carl Annicq

Partner
X

Resumé

Peter is founder and CEO of M80. He was a managing director at Gimv, where he was responsible for Gimv-XL, a €609m closed-end fund aimed at midsize companies in Flanders. Peter also led Gimv’s private equity activities in Belgium and its Consumer platform in Benefralux. Gimv-XL’s participations included investments in Vandemoortele, Greenyard, Punch Powertrain, Lampiris, Xeikon, Hansea and XL Video. Investments from Gimv’s Consumer platform included Melijoe, La Croissanterie, Joolz, United Dutch Breweries and Snack Connection. Peter has created value for his investors by growing companies rather than by financial wizardry. Throughout his career he has advised families and companies on managing growth and organizing succession.

Selected past and current board engagements

Vandemoortele, Greenyard, United Dutch Breweries, Melijoe

Email Peter Maenhout
09-17
Gimv, managing partner
07-09
Amber Capital, MD Amber Capital Benelux
97-07
Petercam (Brussels, Amsterdam), MD and various other roles
91-97
Generale Bank, corporate finance officer
Edu
International Relations (University of Ghent), Financial Management (Vlerick School), MBA (ChicagoBooth)
X

Resumé

Pieter founded his first company in Belgium, a specialist in over-the-counter health care products, while he was still studying. After five years at McKinsey & Company, Pieter moved to New York in 2007 where he created and led the team that developed and rolled out the global franchise network of Le Pain Quotidien. He set up the Pain Quotidien’s global marketing team and ran the company’s international brand and marketing strategy. In 2015 he became CEO of Le Pain Quotidien Belgium.

Selected Past and current Board engagements

La Croissanterie, Brouwland, Theuma, Le Pain Quotidien, Gerantis

Email Pieter Vermeersch
17-18
FNG Group, Group Director Sales and Business Development
15-16
Le Pain Quotidien Belgium, CEO
07-15
Le Pain Quotidien (New York), EVP
06-07
Cabinet of the Prime Minister, advisor
02-06
McKinsey & Co, engagement manager and other roles
00-20
Founder of Aeon Quality Life
Edu
MA Applied Economics and MA International Relations (University of Leuven)
X

Resumé

Jehanne is CFO of M80. She was previously at Pacific Crest Group in San Francisco where she worked with Silicon Valley start-ups and scale-ups to develop their finance and accounting functions. As finance director for NewTree America, the Belgian high-end sustainable chocolate company, Jehanne helped launch and build the company in the US market. Jehanne has a deep experience in financial markets, having spent 15 years as an analyst at Puilaetco and Dexiam.

Selected past and current board engagements

Newtree

Email Jehanne de Walque
13-18
Pacific Crest Group (San Francisco), Director of Finance and Operations
11-13
NewTree America (San Francisco), Director of Finance
04-10
Dexiam, senior financial and SRI analyst
95-04
Puilaetco, financial analyst
Edu
Business engineer (University of Louvain-la-Neuve), MA international management (CEMS), certified European financial analyst
X

Resumé

Carl has a track record of leading companies through significant digital transformation. He drives projects from conception to implementation, working hands-on with senior management and IT teams to embed systems such as CRM, ERP, predictive analytics, lean management and agile software development. Carl acted as CIO at Raet, the leading HR software company from the Netherlands, owned by CVC Capital Partners and later HG Capital, bringing operational efficiencies which translated into direct bottom line results. At Euroclear, he led a lean management transformation which is still considered a benchmark transformation in the European financial industry. Carl started his career at JP Morgan & Co on Wall Street and then remained in New York as a member of the management committee of Ubizen, the Belgian cybersecurity company. He is co-founder and co-owner of Nova Reperta, a 50-strong enterprise transformation consultancy.

Selected past and current board engagements

Nova Reperta Holding, Ticto, TrainM, Esoptra

Email Carl Annicq
11-18
Nova Reperta, partner and co-founder
14-17
Raet Software, CIO
10-11
LMS International, EVP M&A, finance, legal, IT
05-10
Euroclear, director risk management & capital modelling, lean transformation, strategic IT programs
98-05
Ubizen (New York), managing director
94-98
JP Morgan & Co (New York), associate
Edu
MSc Electro-Mechanical Engineering (University of Leuven) and MBA (Vlerick)
xavier-dura

Xavier Dura

Partner
jose-zurstrassen

José Zurstrassen

Associate Partner
geert-vanderstappen

Geert Vanderstappen

Partner
francois-bouchat

François Bouchat

Investment Manager
X

Resumé

Xavier has been CEO of several lifestyle & FMCG companies in France. At Nocibé, where he led two consecutive management buy-outs with Bridgepoint and Charterhouse, he repositioned the brand of the cosmetics and perfumes retail chain and pioneered a multi-channel strategy – resulting in a French market share increase from 13,6% to 18,5%. After an early career in finance, Xavier moved into entrepreneurship as part of the core team that launched the Okaïdi children’s clothing retailer, and brought it to break-even within three years. Being a board member of Wolf Lingerie along with Gimv and Alsace Capital, Xavier became CEO in 2016 where he developed and drove a value-creation strategy based on a digital transformation and an overhaul of the business model.

Selected past and current board engagements

Made in Design, Wolf Lingerie, Edmond de Rothschild Corporate Finance, Hopps Group, Mecatechnics

Email Xavier Dura
16-18
Wolf Lingerie, CEO
15-18
LAC International, senior advisor
14-14
Mim (New Look Group), CEO
13-18
MP Consulting, senior advisor and board member at several companies
98-12
Nocibé, CEO
96-98
Camaieu, CMO
93-96
Okaïdi, CFO
88-92
Arthur Andersen and PwC, auditor
Edu
ESCP Europe and DESCF
X

Resumé

José started coding and selling his own software at age 13 in 1980 in his local computer shop in Verviers, Belgium. As a student and young graduate, he developed and sold software to international corporations and institutions. José has IPO’d three companies of which he was founder or early investor. He first co-founded skynet.be, one of Belgium’s first internet portals. He was involved in the business side and the technology side – having coded the central systems including automated invoicing, payment verification and customer service. Following the sale of skynet.be to Belgacom, José co-founded Keytrade Bank which was Belgium’s first online broker. He is currently an investor in and advisor to multiple start-ups.

As well as being in the M80 team, José is also Executive Chairman of LeanSquare, a venture capital investor.

Selected past and current board engagements

Leansquare, Verlinvest, Zetes, Skynet, Keytrade Bank

Email José Zurstrassen
15-
Meusinvest/LeanSquare, executive chairman
12-17
MyMicroInvest/Spreds/Inventures, co-founder & executive chairman
12-14
MondialTelecom, CEO
07-12
Independent director at Verlinvest, Zetes, ThinFactory, NewTree, STAR-Apic, e.a.
98-07
Keytrade Bank, CTO & co-founder, sold to Credit Agricole
95-98
Skynet.Be, CEO, CTO & co-founder, sold to Belgacom.
Edu
Civil engineer (Vrije Universiteit Brussel, dropped in year 5) and commercial engineer (Solvay Université Libre de Bruxelles)
X

Resumé

Geert is an experienced and respected private equity professional, with an excellent track record in the Belgian market. He started his career in investment banking at BNP Paribas Fortis (then: Generale Bank), as a colleague of Peter Maenhout and Francis Vanderhoydonck. Afterward, he co-founded Buyout Fund (BOF) with Francis. BOF was a closed-end fund focusing on SME buyouts in Belgium, vintage 1999. In 2006, Geert founded Pentahold, an evergreen structure for five families focusing on the same type of investments.

Selected past and current board engagements
Pizza Hut Belgium, Smartphoto group, Kinepolis, O! green, Optimum Sorting

Email Geert Vanderstappen
06-
Pentahold NV, Partner
99-16
Buy Out Fund, Partner
93-99
Spector Photo Group, General Manager Finance & Administration and Group IT
91-93
Fortis, Corporate Officer
Edu
Business Administration (KU Leuven), MSc in Civil Engineer Electronics (KU Leuven)
X

Resumé

François spent the first part of his career in the public sector where he was advising executives on diverse range of financial topics such as M&A, financing structuring, accounting, tax policy and investments. He focused on the energy sector where he managed major transactions. In 2017, he moved to Chicago (USA) to obtain his MBA from Kellogg School of Management – Northwestern University. In that context, he interned in the Investment Banking divisions of Credit Suisse (London) and Marathon Capital (Chicago).

Email François Bouchat
17-19
Kellogg School of Management
18-18
Marathon Capital, Credit Suisse
12-17
IGRETEC
11-11
L’Oréal Business
Edu
MBA (Kellogg School of Management – Northwestern University), Bachelor and Master in Business Engineering (Solvay Brussels School of Management), CFA Charterholder (CFA institute), Master in Financial Risk Management (Université Saint-Louis)
bart-van-hoe

Bart Van Hoe

Investment Manager
thibaut-oosterlinck

Thibaut Oosterlinck

Investment Manager
ward-coolman

Ward Coolman

Associate
paul-elliott-testelin

Paul-Elliott Testelin-Loosdregt

Associate
X

Resumé

Bart started his career as a research assistant at Vlerick Business School, with research themes in finance and private equity. After spending two years in the TMT client coverage team at ING Corporate Clients, Bart joined the corporate loans team at PMV, the autonomous investment vehicle of the Flemish Region. As an investment manager, he worked on many corporate and acquisition debt transactions, as well as business development.

Email Bart Van Hoecall direct 0494574675
14-22
Investment manager at PMV
12-14
Associate relationship manager at ING Belgium
09-12
Research assistant at Vlerick Business School
Edu
Master in Accounting, Applied Economics (University of Ghent), Master in Financial Management (Vlerick Business School)
X

Resumé

Before joining M80, Thibaut spent most of his career at the Investment Banking division of BNP Paribas, advising a wide variety of large-cap and mid-cap companies on Mergers & Acquisitions. Next to a generalist role at the BeLux team for about 6 years, Thibaut worked 2 years at BNP Paribas Paris,  where he was respectively part of the Transportation Industry team and the M&A Execution Group.

Email Thibaut Oosterlinck
19-22
M&A and Investment Banking at BNP Paribas (Brussels), Vice-President and other roles
18-19
Large-cap deal experience at the M&A Execution Group, BNP Paribas (Paris)
17-18
Corporate Finance Advisory at the Transportation Industry team, BNP Paribas (Paris)
14-17
M&A and Investment Banking at BNP Paribas (Brussels), Vice-President and other roles
Edu
Bachelor and Master in Business Engineering (Ghent University, 08-13), 1st Master year at the University of Nebraska in Omaha, USA (11-12), CFA Charterholder (CFA Institute)
X

Resumé

Ward started his career in Corporate Finance. He gained experience in M&A. Ward has mainly worked on valuation models.

Email Ward Coolman
Edu
MSc in Business Engineering, University of Leuven
X

Resumé

Paul-Elliott gained his first experiences in Equity Research at Kepler Chevreux and in Investment Banking at Natixis.

Email Paul-Elliott Testelin-Loosdregt
Edu
Financial Analysis, London Business School
maurice-welter

Maurice Welter

Analyst
X

Resumé

Maurice gained experience in Asset Management at Banque de Luxembourg Investments.

Email Maurice Welter
Edu
MSc in Financial Management (Vlerick Business School), MSc in Investment & Risk Finance (Westminster University), Web Development (Le Wagon)

How we
work

We put our entrepreneurial, management, financial, private equity, change-management and digital skills to work in ambitious companies to:

  • Bring focus to companies’ strategies
  • Invest in companies’ sales organisations and top-line growth
  • Deploy digital – from basic to sophisticated – to increase sales and improve efficiency

We do not stick our noses in every detail, but we play an active role if and when needed. We believe in having a clear common purpose. We motivate, inspire and help. We focus on the long term. We work based on mutual respect for our investors and for our portfolio companies. We listen, we evaluate the options, and we act upon what we hear and see. We believe in the positive power of private equity.

Contact

We are based in Brussels.
Paris office will open in 2019.

  • 158-160 rue de Livourne /
  • Livorno straat 158-160
  • 1000 Brussels
  • We have an E-bike charging station available.
  • T Please contact anyone of our team.
Find your way here

By train

The closest train station to our office is Brussels Midi/Zuid which is the main station for arrivals by Thalys, Eurostar and TGV in Brussels.

When you arrive at the station, head towards the tramway platform and take the 81 line in the direction of Montgomery. Get off at the Bailli stop, and our office is located just 200 meters away.

Taxis are best avoided – if in doubt, take an Uber.

By car

Easiest is to use Waze, introducing “parking Louise Village”. Electric car charging stations are available.  The car park is a short 15-minute walk from our office, or you can take the tramway line 8 at Stephanie and get off at Bailli stop.

If you prefer not to use the car park, you can park on the streets near the office.

 

By metro

Our office is conveniently situated just 200 meters from the Bailli tramway stop, which serves lines 8, 81, and 93.