Firms in the Spotlight Private equity

Lauwers Law

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Lauwers Law stands as a beacon of excellence in the realm of tax law, renowned for its profound expertise and a uniquely tailored approach that effectively navigates the complexities of tax law across Belgium’s diverse regional landscape.  Our comprehensive services cover a broad spectrum of tax-related matters, including corporate taxation, international tax law, VAT, and …

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Private equity in Belgium

A&O Shearman

A&O Shearman’s ‘broad team of well-rounded professionals‘ handles a large volume of mid- and upper-market matters, with the practice exhibiting notable strengths in connection with cross-border and innovatively structured transactions. The team, which advises major funds and their portfolio companies in the Benelux region and abroad, regularly assists with the negotiation, due diligence, and financing aspects of buy- and sell-side buyouts, minority investments, and carve-outs. Practice head Wouter Van de Voorde  regularly collaborates with the firm’s global offices to advise on high-value multi-jurisdictional transactions, often with complex restructuring and reinvestment elements. Dirk Meeus and Pierre-Olivier Mahieu are vastly experienced with M&A and equity capital markets, while Frederiek Adams is noted for his advice on joint ventures, among other issues.

Practice head(s):

Wouter Van de Voorde

Other key lawyers:

Frederiek Adams; Dirk Meeus; Pierre-Olivier Mahieu; Sofie Haelterman


‘Very skillful team. In-depth knowledge; broad experience in both Belgian and international PE; pragmatic approach; efficient case handling; clear communication.’

‘Broad team of well-rounded professionals and specialists.’

‘Can-do attitude and very relevant experience.’

Baker McKenzie CVBA/SCRL

Baker McKenzie CVBA/SCRL remains very active across the full range of private equity work, handling a large number of high-value transactions and investments for Benelux-based and international private equity houses in addition to regularly advising clients on the formation of new private funds. The team’s expertise in corporate financing, regulatory, and tax matters enables it to comprehensively advise clients on the structuring aspects of new alternative investment outfits, while also being an asset in connection with fundraising and financing matters. The team, which is particularly active on transactions and financings in the life sciences, IT, and real estate sectors, is led by corporate finance and governance expert Roel Meers. Further key names include Luc Meeus, who advises on the corporate and tax aspects of private equity transactions and fund formations, cross-border M&A experts Davinia Martens and Dominique Maes, and financing specialist Koen Vanhaerents. Kristoff Cox and Kim Stas are also highly recommended.

Practice head(s):

Roel Meers

Other key lawyers:

Koen Vanhaerents; Luc Meeus; Dominique Maes; Davinia Martens; Kristoff Cox; Kim Stas; Youens Sebbarh


‘Excellent credentials in international M&A, very reliable and qualitative service and good connection to the local business community. Pragmatic when necessary.’

‘Team has a pro-active attitude and is responsive with quick turn around times. Quality of the work is high and precise.’

‘The fund structuring practice is one of the best in Belgium – setting and maintaining a high standard for Belgian fund documentation and management in full comprehension of the needs of Belgian funds and their managers.’

Key clients

TA Associates

Core Equity


Korys Investments

CVC Capital

M80 Capital

Federal Holding and Investment Company


Innovation Industries



Newton Biocapital II Partners


Fortino Capital Partners NV / SA


Straco PE

Participatiemaatschappij Vlaanderen

Equilis Europe

Aquinos Group

EEBIC Ventures

Work highlights

  • Advised Korys Investments and Innovation Industries Fund, as lead investor, on the €70m Series C financing round of Aphea.Bio NV.
  • Advised Apheon on an investment in AlliA Insurance Brokers group.
  • Advised Revive Fund Management on the structuring and fundraising of Revive Impact Fund.


Boutique firm ARGO Law is very established in the Benelux private equity market, handling a large volume of complex transactions while also drawing on cross-practice expertise to advise on fund structuring, tax, and governance matters. The team is increasingly active on cross-border buyouts and minority investments and is noted in particular for its advice on fund formation, regularly applying its regulatory and governance expertise to advise on the incorporation and post-incorporation structuring of new private equity and venture capital funds. Kris Verdoodt and Bert Van Ingelghem, whose portfolios encompass a wide range of private equity transactions, co-head the practice. Tax and fund structuring experts Philippe Rens and Freya Jorens are also highly recommended, as is transactional expert Louis Hoet.

Practice head(s):

Kris Verdoodt; Bert Van Ingelghem

Other key lawyers:

Philippe Rens; Louis Hoet; Freya Jorens;Mattias Verbeeck; Evelyn Van Raemdonck


‘ The team always has a pragmatic approach fr, regardless of the complexity of the matter. Top quality.’

‘Kris Verdoodt offers a pragmatic approach and efficient interventions in highly complex international deals. Very detailed, but always impact-oriented, went the extra mile (and beyond) to make the deal happen.’

‘Very competent and available team, with strong knowledge on their legal matters and also update on industry regulations. Very nice individuals.’

‘What we value the most in the Argo team is their reactivity, pragmatism, and speed of execution. Combined with the team’s down-to-earth culture, we feel that compared to other law practices, Argo is uniquely equipped to tackle negotiations and processes with SMEs.’

‘Louis Hoet is very approachable and hands-on. He is into the details on the transaction and very pragmatic in dealing with unforeseen circumstances.’

Key clients


Maxus Capital

Junction Growth Partners

Andera Partners

Heran Health Tech Fund


Strada Partners

Vectis Private Equity

NPM Capital



Rivean Capital

Strada Capital


Fortino Capital Partners


Vendis Capital

Down2Earth Capital

We are Jane

Hummingbird Ventures

Work highlights

  • Assisted the founders and other key managers of Amadys with their roll-over into ETC Group as part of the acquisition of Amadys by the latter.
  • Assisted Sofindev Management with the incorporation of its sixth private equity fund, Sofindev VI, raising a total of €250m.
  • Advised Andera Partners on its investment in Pauwels Consulting NV.

Clifford Chance

Clifford Chance maintains a client base that encompasses private equity funds, portfolio companies, and start-ups and scale-ups seeking investments, with a particular focus on the energy and TMT sectors. The team is noted for advising on the transactional aspects of major energy transition undertakings, handling joint ventures, portfolio acquisitions, and minority investments for funds and companies seeking to develop renewable energy projects and green technologies.  Global and cross-practice connections furthermore equip the practice to handle the regulatory and tax aspects of complex cross-border acquisitions and investments. Niek De Pauw, whose expertise spans the full range of private equity transactions, leads the practice. while Xavier Remy and Patrice Viaene are further key contacts for private equity and venture capital deals in the energy sector.

Practice head(s):

Niek De Pauw

Other key lawyers:

Xavier Remy; Patrice Viaene; Gillis Waelkens; Celine Feys

Key clients











Merieux Equity Partners


Gridworks Development Partners

Amavi Capital



Partners Group


Work highlights

  • Advised Jonckers on the acquisition by Mayfair Equity Partners LLP of a majority stake in the company.
  • Advised a private equity firm on the potential acquisition of Cheops Capital Partners NV.
  • Advised Belgian private equity firm Straco on setting up a joint venture with Downtown Real Estate for the acquisition and further development of a real estate portfolio.

DLA Piper

DLA Piper’s team is capable of advising on the full gamut of private equity transactions and has a standout record of handling acquisitions, investments, and buy-and-build strategies for private equity clients active in the sports space. Tech and healthcare are further areas of focus for the team, which besides advising on transactions also routinely assists with the incorporation, structuring and commercialisation of new venture capital and private equity funds. Financial services specialist Pierre Berger is a noted expert in this space and also regularly advises on VC investments. He co-leads the practice with PE and VC transactions experts Koen Selleslags and Michaël Heene.

Practice head(s):

Koen Selleslags; Michaël Heene; Pierre Berger

Other key lawyers:

Fauve Vander Schelden; Peter-Jan Smet; Aubry Daerden; Pieter Vermeulen


‘The team is very hard working and helps us to operate more efficiently and stay on top of all of our registration and other obligations.’

‘We have been very happy with the work of Michaël Heene and Pieter Vermeulen. They are always available to us whenever we need.’

‘Fauve Vander Schelden and Koen Selleslags are hands-on and pay attention to detail.’

‘Fauve Vander Schelden is very knowledgeable and cares for her clients by following up regularly and letting fall nothing through the cracks. Koen Selleslags is a very pleasant lawyer to work with. Lots of experience and knows how to get a deal done.’

Key clients

Alychlo NV

777 Partners

Torqx Capital Partners


IceLake Capital

Checkroom NV


InvestLink NV

Tioga Capital Partners sLP

ING Solutions Investment Management

NPM Capital

The Pacific Media Group

Casa Management

Fortino Capital Venture


SD Worx

Highlander Partners


Bregal Milestone


TDR Capital




Eagle Football Holdings


Pacific Media Group Ltd

NewPort Buyout

RBJ Corporate BV

D2X Group

Marklaan Advisory

Horizon Equity Partners

Work highlights

  • Advised Marklaan Advisory on structuring two alternative investment funds, Strada Partners I and Strada Partners 0.
  • Advised the Eagle Football group of companies on Eagle Football Holdings Bidco Limited’s completion of an acquisition of a significant controlling stake in Olympique Lyonnais Groupe.
  • Advised Tioga Capital Partners on the seed capital round of HDL MF SA, a newly incorporated company active in debt capital markets.


Linklaters displays a ‘thorough knowledge of PE and VC practices‘ and advises Benelux-based and large global funds throughout the lifecycle of investments. The team benefits from cross-border and cross-practice connections, which enable it to handle the tax, financing, and corporate structuring aspects of fund set-ups as well as acquisitions, investments, buy-and-build transactions, and exits. Practice head Arnaud Coibion is well-regarded for his ability to advise private funds on PIPE transactions as well as on complex dual-track exits. Further key contacts in the team include finance expert Charles-Antoine Leunen and cross-border M&A specialist An-Sofie Van Hootegem.

Practice head(s):

Arnaud Coibion

Other key lawyers:

An-Sofie Van Hootegem; Charles-Antoine Leunen; Evita Bassot


‘Great team showing good cohesion. They manage all aspects of the relation very well.’

‘We have a high level of trust in partners An-Sofie Van Hootegem and Charles-Antoine Leunen. They always go the extra mile and know the market very well. ’

‘The Linklaters team has a thorough knowledge of PE and VC practices. They offer solutions-oriented and practical advice and know what it takes to get the deal done. Their partners and managing associates are very clever, accessible, dedicated, and always available.’

‘The team is very flexible and adapts to the client’s needs. They have a deep knowledge of private equity.’

‘An-Sofie Van Hootegem is close to the clients and has an excellent understanding of the clients’ needs. Charles-Antoine Leunen is a trusted business partner and is solution-minded.’

‘It is always a pleasure to work with the Linklaters teams. They really try and understand your business case and come with pragmatic and fit-for-purpose support and advice. They take ownership and really help the projects.’

‘Charles-Antoine Leunen ensures the high quality of the support and is able to compose the right Linklaters teams that fit perfectly our needs. Evita Bassot is always impressive, not only for her strong legal/financial expertise or her negotiation skills but also for the drive and leadership she demonstrates to deliver what we need.’

Key clients



Hg Capital








Robur Capital


NPM Capital

AtlasInvest Holding

Arev Partners


SK Capital Partners

Work highlights

  • Advised Virya Energy on the sale of 100% of the shares in the largest offshore wind platform in Belgium, Parkwind NV, to JERA Green Ltd.
  • Advised Ardian on the sale of its majority stake in IT-managed services provider Trustteam to Rivean Capital.
  • Advised Sofina on its investment in Rohlik Group.

Loyens & Loeff

Loyens & Loeff’s private equity offering encompasses transactional advice in connection with venture capital investments, take-private acquisitions, and buy-and-build-strategies, as well as structuring and financing advice in relation to fund formation. The team regularly handles the domestic aspects of high-value cross-border acquisitions for upper-market funds and their portfolio companies, working with the firm’s international offices as well as global partner firms to handle Belgian regulatory and tax due diligence as well as transaction negotiations. The practice is co-led by Robrecht Coppens, who advises on restructuring matters in addition to handling a wide array of transactions, and Thomas Lenné, who is noted for advising on private equity deals in the energy, life sciences, and tech sectors. Capital markets expert Mathias Hendrickx is a further name to note.

Practice head(s):

Robrecht Coppens; Thomas Lenné

Other key lawyers:

Mathias Hendrickx


‘Robrecht Coppens led our latest M&A deal. He was client-centric and executed the transaction flawlessly.’

‘Team has relevant local Belgian legal and regulatory expertise. Legal due diligence work output was of very high quality.’

Key clients

Platinum Equity


Intermediate Capital Group

Pioneer Point Partners


Lone Star Funds

Silver Lake

HIG European Capital Partners

Bencis Capital Partners

Rivean Capital

Participatiemaatschappij Vlaanderen

Bregal Investment

Hasco Invest

Smartfin Ventures


Work highlights

  • Assisted ICG in connection with the €1bn sale of its stake in Infra Group to the private equity firm PAI Partners, followed by a partial reinvestment.
  • Advised Bencis Private Equity on the €123m set-up of Bencis IV Continuation Fund for several portfolio companies, with additional commitments for expansion and growth.
  • Assisted EQT with the $1.7bn acquisition of all shares in BTRS Holding Inc. and its subsidiaries.


Noted for its prolific advice in connection with sell-side private equity deals, the team at Stibbe also advises funds on distressed acquisitions, buy-and-build strategies, and investments in innovative companies in sectors such as IT and life sciences. Belgian private equity funds and their portfolio companies routinely instruct the team, which benefits from integrated tax, regulatory, and financing expertise, to advise on the Belgian aspects of global high-value sales to multinational funds. Key contacts in the team include practice head Stefan Odeurs, who is noted for his expertise on leveraged acquisitions, divestments, and turnarounds, as well as Dries Hommez, who is particularly active on cross-border M&A, and Jan Peeters, an expert on capital markets and financing matters.

Practice head(s):

Stefan Odeurs

Other key lawyers:

Dries Hommez; Jan Peeters


‘Experienced, pragmatic and solution-driven.’

Work highlights

  • Assisted Summa Equity AB with the acquisition of UgenTec NV from Heran Partners, LRM and the other selling shareholders.

White & Case LLP

Cross-border private equity transactions are a key area of focus for the team at White & Case LLP, which works across the Benelux region and also frequently collaborates with the firm’s global offices to handle a diverse range of high-value private equity investments and acquisitions. In addition to its international work, the team also advises Belgian funds and portfolio companies on transactions, financing matters, and VC-backed fundraising rounds. Although it is active across a wide array of deals, the team is particularly noted for its ability to handle private investments in the tech, financial services, and energy sectors. Practice co-heads Carlo Meert and Thierry Bosly focus on cross-border M&A, as does Thomas Glauden, who exhibits particular expertise in Luxembourg-based matters. Philippe Hendrickx is also highly recommended.

Practice head(s):

Thierry Bosly; Carlo Meert

Other key lawyers:

Thomas Glauden; Philippe Hendrickx


‘Professional and extremely available.’

‘Very helpful and dedicated to serving the client.’

Key clients

Cobepa SA

CVC Capital Partners

IK Partners


Active Ownership Capital

Regnology Group


Cary Group



Work highlights

  • Advised Cobepa SA on its acquisition of Ned Stevens from AVALT.
  • Advised PPF on its acquisition of a 15% interest in listed company InPost S.A. from Advent International, as well as an option to purchase a further 15%.
  • Advised Cosucra Group Warcoing SA in connection with a process to search for potential strategic partners to support its further growth.


Belgian-based private equity and venture capital clients as well as international funds such as Platinum Equity instruct ALTIUS to advise on the domestic due diligence and negotiation aspects of cross-border buyouts and investments, relying also on the team’s integrated expertise across tax, regulatory, and financing matters. In addition to its transactional expertise, the team routinely advises international clients on the set-up of new Belgium-based fund structures. Tom Vantroyen and Marie Brasseur are key contacts for corporate matters, while Audrey Zegers is recommended for her financing expertise.

Practice head(s):

Tom Vantroyen; Marie Brasseur

Other key lawyers:

Thijs Herremans; Audrey Zegers


‘The team is very hands-on and solution-oriented. They efficiently cooperate with other teams in the firm to achieve the best solution for the client.’

‘Tom Vantroyen is extremely dedicated. He has a remarkable knowledge about any detail of a transaction and is very accessible. Always ready to go the extra mile to achieve the best possible solution.’

Key clients

Deutsche Invest Capital

Deutsche Invest Mittelstand


Indufin Capital Partners

Indufin Investment Fund

LBO France


Platinum Equity

Vertica Capital Partners

Aurelius Equity

Work highlights

  • Advised Deutsche Invest Capital Partners on its lead role in the acquisition of a controlling majority shareholding in TEAM Industries NV.
  • Advised Indufin Capital Partners on its exit from AXI.
  • Advised Aurelius on the Belgian aspects of its acquisition of the offset division of AGFA.

Cresco Advocaten

Cresco Advocaten fields a team of ‘real specialists in VC and startup fundraising‘, serving a rapidly growing client base of funds and growth companies active especially in the tech sector. The team regularly provides guidance to funds in connection with their buy-and-build acquisitions and is additionally well-versed in fund formation matters, while also handling all aspects of VC-backed investment for its corporate clients. In addition to its activity in the venture capital space, the team advises an increasing number of established private equity funds on cross-border acquisitions. Practice head David Dessers is a key contact for strategic and fund-backed transactions, while Glenn L’hoëst is noted for his expertise in fund formation and VC investment matters.

Practice head(s):

David Dessers

Other key lawyers:

Glenn L’hoëst; Olivier Van Raemdonck


‘The team is extremely flexible and adapts to the situation. We have been able to rely on them in unique situations where quick decision-making was needed. ’

‘Glenn L’hoëst is an amazing lawyer. He has deep market knowledge, relevant experience, and good negotiation and communication skills.’

‘Extremely responsive, on-the-ball team with good pro-activity; committed to assisting throughout the process and afterwards; pragmatic and valuable legal advice; to the point; outstanding associates; strong team players.’

‘The team is extremely easy to reach, very hardworking and what I prefer above all, deal makers. They look at problems pragmatically!’

‘They know their topics and are real specialists in VC and startup fundraising.’

‘Efficient working team, pragmatic approach, hands-on, very knowledgeable, real team effort combining different individuals with different expertise on one topic, thinking along, structured.’

‘ They communicate very well,  are transparent, structured, to the point and on time. Always a pleasure to work with David Dessers and Glenn L’hoest. ’

Key clients

Air Liquide Venture Capital

Airbus Ventures


Birdhouse Ventures



Hummingbird Ventures

Hymont Capital

Innovation Industries

KBC Focus Fund

KBC Group

M80 Capital

Main Capital

Ninepointfive Ventures

Novalis Ventures


Partech Ventures

Pitchdrive Fund II

SmartFin Capital – SmartFin Ventures


Volta Ventures


Yield Lab

imec.xpand II

Work highlights

  • Acted for imec.xpand on its €250m fund formation.
  • Advised M80 Capital and its portfolio company Yuma on a buy-and-build strategy in Belgium and abroad.
  • Advised Smartfin Capital on its fund formation and investments.


Eubelius handles mergers, buyouts and minority investments for portfolio companies and private equity funds as well as publicly backed venture capital outfits. The team’s full-service offering encompasses a ‘great depth of knowledge in contracts, secured transactions and litigation’ as well as the ability to handle an array of restructuring and fundraising issues. Accordingly, the consortium of practice heads exhibits a diversity of specialisms in connection with private equity matters: Erwin Destuyver focuses on cross-border M&A, Filip Jenné has experience advising on real estate transactions, Matthias Wauters is noted for his restructuring and litigation expertise, and Felix Dobbelaere routinely advises clients on entering into strategic alliances.

Practice head(s):

Matthias Wauters; Erwin Destuyver; Filip Jenné; Felix Dobbelaere

Other key lawyers:

Philippe Mulliez


‘The Eubelius team has been extremely strong in navigating a multi-cultural environment and making sure to address country-specific aspects while making sure that all company-specific requirements were met.’

‘Erwin Destuyver made the highest impression, with a customer-centric approach, a clear view of the negotiation points and the various must-have items and an excellent ability to move the negotiation forward with a solution-driven mindset.’

‘Great depth of knowledge in contracts, secured transactions and litigation. Service is excellent.’

‘Personal and hands-on approach, pragmatic, seeking to find solutions, hard-working.’

‘Personal approach, easily reachable, open-minded.’

Key clients

BNP Paribas Fortis Private Equity


Damier Group

Sports & Leisure Group



European Innovation Council Fund

V-Bio Ventures

Fortress Investment Group

I Squared Capital


Work highlights

  • Advised Mademoiselle Desserts on its acquisition of Galana.
  • Advised 3D Investors on the sale of its entire stake in Pauwels Consulting.
  • Advised the shareholders of Glass Invest, including Dovesco, on the 100% sale of Glass Invest to Riou Glass.

Jones Day

Jones Day remains active on a large volume of cross-border transactions, regularly working with the firm’s international offices in key jurisdictions such as the US and France to handle high-profile and innovatively structured acquisitions, strategic alliances, and VC-backed financing rounds. The team also handles a growing volume of domestic transactions and is particularly well-versed in advising both funds and innovative tech scale-ups on investments in the TMT and life sciences sectors. Practice head Thomas De Muynck is noted for advising on PE and VC investments in growth companies, while Jonas Van Den Bossche is a key contact for cross-border work.

Practice head(s):

Thomas De Muynck

Other key lawyers:

Jonas Van Den Bossche; Steve Nuyts

Key clients

American Industrial Partners

Alven Capital

Arsenal Capital Partners

BNP Paribas

Biobest Group

Buysse & Partners

Cowboy SA

Cathay Capital

ETF Partners

Fortino Capital

Hi Inov Capital

Index Ventures

iStar Medical SA

New Alpha

Partech Capital

Proxyclick SA

Rockley Management

Seventure Partners

The Riverside Company

Work highlights

  • Advised iSTAR Medical SA on its strategic alliance with AbbVie for a value of up to €535 million, a deal using the “option-to-acquire” structure.
  • Advised Biobest Group NV in connection with its capital increase in an amount of €98.5m, subscribed by Sofina SA and other private investors.


Lydian advises on the full lifecycle of mid-market and bulge bracket private capital transactions and governance matters, counting a range of Benelux-based target companies as well as international PE and VC funds in its client roster. The team’s advisory expertise enables it to handle fund relocations and corporate restructurings in connection with carve-outs, while it applies its transactional expertise to advise on cross-border buyouts and sell-side M&A. Private equity and real estate transactions expert Peter De Ryck jointly leads the team with Maxime Colle, who handles corporate governance matters, and Tom Geudens. Florence Colpaert is another key contact.

Practice head(s):

Peter De Ryck; Maxime Colle; Tom Geudens

Other key lawyers:

Florence Colpaert


‘Established legal firm in Belgium with a good reputation. I work with Lydian typically on M&A transactions. What I like is that the partner I work with, Peter De Ryck, is heavily involved. Peter is a dealmaker looking for pragmatic solutions without making shortcuts.’

‘Peter De Ryck: Lots of experience, hands-on and pragmatic.’

‘Lydian is an excellent firm, very service-orientated. Always to the point.’

‘Peter de Ryck is an outstanding lawyer, the go-to person to solve legal problems. Extremely service-orientated, always to the point, and very responsive. It’s a real pleasure working with Peter.’

Key clients

Naxicap Partners

House of HR

White Bridge Investments

Andera Partners

Tikehau Ace Capital

Carl Zeiss Ventures

La Financière Patrimoniale d’Investissement

European Dental Group

Northleaf Capital Partners

Waterland Private Equity

Hartree Partners


IU Group

Zurich Global Ventures


Dense Air Limited

DWK Life Sciences


SteelCase Inc.

Work highlights

  • Acted for the sellers on the sale of House of HR NV to Bain Capital, with a total enterprise value of about €3bn.
  • Assisted Zurich Insurance Company Ltd with the funding round of Qover S.A. in the form of a capital increase and the sale by certain shareholders of their shares to Zurich.
  • Assisted Dense Air Limited with the sale of 100% of the shares in Dense Air Belgium SRL to Citymesh Mobile NV.


NautaDutilh’s private equity team primarily works with Benelux-based funds and target companies across the lifecycle of investments, handling domestic acquisitions, sell-offs and exits as well as advising on the Belgian aspects of global deals. The team is also well-versed in acting for start-ups and scale-ups in connection with fundraising and financing matters. Philippe Remels, who is noted for advising on transactions in regulated sectors such as life sciences and energy, jointly leads the practice with Nicolas de Crombrugghe, who primarily advises funds on acquisitions in the financial services sector. M&A and restructuring expert Christophe Wathion is a further name to note.

Practice head(s):

Philippe Remels; Nicolas de Crombrugghe

Other key lawyers:

Christophe Wathion; Olivier Van Wouwe


‘Very pleasant to work with, good grasp of the issues.’

Nicolaus de Crombrugghe is a very experienced and calm partner to have on your side. Christophe Wathion is a very smart, fast and reliable lawyer!

Key clients



EMH Growth Fund II SCSP

Fountain Healthcare Partners




Wallonie Entreprendre

Work highlights

  • Assisted Wallonie Entreprendre and Noshaq with selling part of their $150m stake in Odoo.
  • Advised EMH Growth Fund II SCSP, a Luxembourg-based private equity fund, on acquiring a €26m minority stake in Belgian Basalte Group NV.
  • Assisted the shareholders and co-founders of S-Biomedic with the sale of their shares to Beiersdorf.


The ‘pragmatic and knowledgeable‘ team at Strelia advises private equity and venture capital funds as well as their portfolio companies on a wide range of transactions, financing rounds, and (re)investments, focusing heavily on regulated sectors such as life sciences and tech. Under the leadership of Gisèle Rosselle, the team handles the due diligence and negotiation aspects of a growing volume of cross-border M&A, frequently with the firm’s integrated employment and real estate capabilities to provide comprehensive regulatory advice. Further key contacts include transactional experts Katrien Vorlat and Laurent Verhavert.

Practice head(s):

Gisèle Rosselle

Other key lawyers:

Katrien Vorlat; Laurent Verhavert; Céderic Devroey


‘The team is very responsive, pragmatic, knowledgeable and available despite their busy practice. For us, in short, the go-to firm in Belgium!’

‘We work with Gisèle Rosselle and Céderic Devroey a lot in cross-border M&A transactions with a Belgian angle and know that we can count on them. That they will be available to deliver on time clearly and practically. They are real service providers who go the extra mile for their clients and co-counsel.’

‘The strength is to have a single point of contact who is connected to their internal team and ensure optimal communication between departments depending on the needs.’

‘We are working mainly with Laurent Verhavert. Laurent is clear, easily available, professional and pragmatic. I am extremely happy about the interactions because I know that I will have a constructive answer in a short time frame.’

‘Gisèle Rosselle and her PE team are responsive, pragmatic and easily adapt to the wishes of the client. They take responsibility and are proactive. It is a pleasure to work with them.

‘Gisèle Rosselle is a partner on which you can rely. She and the quality of her work are above par. She is very responsive and proactive.

Key clients

Dematra Waterland

Swarovski Group

Foreman Capital

Chemtech Group

Société générale


Newton Biocapital

Vesalius Biocapital

Quilvest capital partners

Dawn capital

Crane capital

Arlington capital partner

BC partners


Join capital

Flamingo Therapeutics

Novadip Biosciences

Neuvasq Biotechnologies

Soil Capital


Aboleris Pharma


New Mountain Capital

Work highlights

  • Assisted Dematra-Waterland PE with the acquisition of Nouwens Transport and of Transport De Sloover.
  • Assisted Neomounts with the acquisition of B-Tech International Group.
  • Assisted Cellaion with an equity financing round.

Ace Law

Boutique firm Ace Law chiefly advises domestic investment funds, portfolio companies as well as the shareholders of target companies on mid-market transactions. The team is capable of assisting with the full lifecycle of private equity deals, from initial investments to exits, and also advises its clients on a growing number of cross-border matters. Corporate finance expert Didier Roemers co-leads the practice with experienced transactions specialist Filip Meire. M&A expert Wouter Verhelst is a further name to note. Bert Van Camp left the team in December 2022, while Christophe De Backere and Rabauke Kenis arrived from Eubelius in June and April 2023, respectively.

Practice head(s):

Filip Meire; Didier Roemers

Other key lawyers:

Wouter Verhelst; Christophe De Backere; Rabauke Kenis


‘Excellent service, proactive and quality of deliverables.’

Key clients

Triginta Fund


Capital A Partners

Tilleghem Private Equity


Down2Earth Capital

Chequers Capital

Andera Partners

Work highlights

  • Assisted the shareholders of VK Architects & Engineers on the sale to Sweco Belgium.
  • Advised Chequers Capital on the legal due diligence apsects of its investment in Cheops Technologies.
  • Advised WorxInvest, a diversified investment company and parent of SD Worx, on the acquisition of a minority stake in i3-Group.


Cambrian is a boutique firm that focuses on advising venture capital funds, innovative start-ups, PE-backed portfolio companies and scale-ups in sectors such as tech and life sciences. The team assists investors with their buy-and-build strategies and advises on the regulatory and fundraising aspects of fund formations, while also working with target companies on sales and VC-backed funding rounds. Pieter Capiau mainly advises on VC transactions in the tech sector and heads the practice together with fund structuring expert Wim Van Berendoncks and transactional advisor Yannick Verrycke.

Practice head(s):

Pieter Capiau; Wim Van Berendoncks; Yannick Verrycke

Other key lawyers:

Laura Rosseel; Reinart Vos; Sammy Perel


‘Strong team, very available and always thinking alongside the client.’

‘Yannick Verrycke is the partner of choice to work with. Very good overall skillset and strong negotiator.’

‘We appreciate the combination of the quality and competence of the people, their client and business orientation and their pragmatism and swiftness. Peter Capiau embodies these qualities.’

Key clients

Hummingbird Ventures

Prime Ventures

Peak Capital



SmartFin Capital

Volta Ventures


Sweetwood Ventures




9.5 Magnitude Ventures

Rio Fund

Shift Invest

Force over Mass





Oper Credits



Loop Earplugs









Deloitte Legal is is capable of advising both private equity and venture capital investors as well as a large roster of start-up and scale-up clients on buy- and sell-side M&A, focusing in particular on early-stage investments and mid-market acquisitions. The firm regularly also regularly leverages its internal tax and financial advisory capabilities to provide its clients with comprehensive regulatory advice. David Roelens, Christoph Michiels, and Marc Van tieghem jointly lead the team and handle acquisitions, sales, and investments in a broad range of sectors. Tim Baart left the practice in December 2022, while Benoît Féron departed in May 2023.

Practice head(s):

David Roelens; Christoph Michiels; Marc Van tieghem

Other key lawyers:

Henri-Simon Vande Vyver; Hans Vansweevelt


‘Very involved, hands-on team.’

‘Marc Van tieghem and Hans Vansweevelt deliver extremely good work and go the extra mile to get things done. ’

‘Hands-on; excellent legal knowledge.’

Key clients

PMV – Welvaartsfonds





Chequers Capital


Kebek Private Equity

De Eik NV


Imec.Xpand Comm.V.


Inkef Capital



Agomab Therapeutics NV

Amber Technologies

Arkite NV

Aphea NV

Apitope International NV

Arcsec NV

Augustine Therapeutics NV

Bioqube Ventures NV

Bubbly-Doo BV

Beeple NV

Complix NV

Constell8 NV

Deuteroncology NV

Dualyx NV

Epigan NV

eTheRNA Immunotherapies NV

FOx Biosystems NV

Friedewald Confectionary NV

Inbiose NV

Indigo Diabetes NV

Intigriti NV

Jay Technologies

Micledi Microdisplays BV

Minoryx Therapeutics BE NV

MRM Technologies NV

MRM Health NV

Ontoforce NV

Ovizio Imaging Systems NV


Prodigest BV

Protealis NV

Rewind Therapeutics NV

S-biomedic NV

Sensolus NV

Sentea NV

Softhale NV

Solithor BV

Swave BV

Trince BV

Unifly NV

Vipun Medical NV

Work highlights

  • Assisted Aphea.Bio with its Series C investment round of approx. €70m and closing of the first tranche capital increase of approximately €25m.
  • Advised the H. Essers Family Office on its acquisition of the solar panel company Extra Power and the reinvestment by the existing management in the acquisition vehicle.


Liedekerke‘s private equity and venture capital offering targets funds as well as corporate clients and encompasses fund structuring advice, transactional guidance, and a large volume of work in connection with VC-backed fundraising. The team is particularly active across transactions in the energy, tech, and life sciences sectors, owing heavily to the expertise of M&A expert and practice head Damien Conem. Further key contacts in the team include IT transactions expert Christel Van den Eynden as well as versatile PE and capital markets specialists Jacques Meunier and Wim Dedecker.

Practice head(s):

Damien Conem

Other key lawyers:

Christel Van den Eynden; Wim Dedecker; Jacques Meunier


‘My main contact is Christel Van den Eynden. Very nice person, great lawyer, very responsive and professional. Highly recommended!’

‘The Liedekerke PE team is responsive and pragmatic.’

‘The team is very pragmatic and easy to approach. They listen to their clients and think with their clients to come to appropriate solutions in complex discussions. They are respected by everyone around the table, not the least by the delegation leaders of all parties.’

‘Wim Dedecker has the ability to look for pragmatic solutions and defends them in a very diplomatic way gaining trust from all parties in the negotiations. He is not afraid to think out of the box and to challenge his client to find an agreement that is acceptable to everyone.’

Work highlights

  • Advised investment funds DST Global and Gemini Investments in connection with the acquisition by Deliverect of Chatfood.
  • Assisted Korys, the investment company of the Colruyt family, with its investment in Incofin, a Belgian impact investment management company.
  • Assisted Cohabs with a €450m financing round encompassing capital entries by global real estate investor Ivanhoé Cambridge, Belfius Insurance and the real estate arm of the Belgian Sovereign Fund.

Monard law

In addition to advising both Belgian and international funds on cross-border acquisitions, Monard law, joined by Buyle is regularly instructed by innovative start-ups and scale-ups to assist with venture capital-backed investment and financing rounds. The team leverages its multi-disciplinary tax, regulatory, and transactional expertise to guide clients through the entire investment life cycle and is particularly well-established in mid-market transactions. Practice head Nicole Segers advises both family-owned companies and domestic private equity funds on a wide range of matters, while Benoit Samyn and Pieter Van den Broeck specialise in domestic and cross-border M&A. Maxime Monard is a key contact for VC matters.

Practice head(s):

Nicole Segers

Other key lawyers:

Pieter Van den Broeck; Maxime Monard; Benoit Samyn; Lize Van Looy; Nick Samyn


‘The team at Monard Law is not your average team. They are super professional, and knowledgeable while at the same time being very human and personal. Working with Monard Law feels like working with friends. They take time for you, get to know the context and never rush to any conclusion..’

‘Maxime Monard, Nick Samyn and Lize Van Looy are our main contacts at the firm. They stand out for their professionalism, enthusiasm and flexibility. They know their business inside out, have introduced us to many relevant contacts on many occasions and are working hard to help us drive our business forward.’

‘I liked the speed of reaction in every stage of the project we worked on together.’

‘Pieter Van den Broeck is very clear in feedback and interpretation of the agreements under review. Pieter informed us very well about the complex elements of cases. He negotiates very well and clearly on our behalf. ’

‘Stellar people – strong diversity in background, opinion and experiences.’

‘High integrity and high-quality individuals.’

‘Monard’s team masters the broad spectrum of law aspects most relevant for a startup/scaleup company like ours, including fundraising, ESOP programs, fiscal law, and employment law.’ 

Key clients

Down 2 Earth Capital

Quanteus Group

Legia Capital





GT Invest


Droia Ventures

Chili Publish

E-Capital Equity Management

The Nest Family Office

Saint Gobain




Vectis Private Equity

Work highlights

  • Advised SalixCo BV on the acquisition of 100% of the shares of Water Is Life Group BV.
  • Advised 4 Healthy Pets on two new investment rounds involving The Craftory and DLF Ventures.
  • Assisted the lead investor Molten Ventures as well as the co-investor OTB Ventures with their participation in Settlemint’s Series A funding.

Simont Braun

Simont Braun backs up its capabilities in sell- and buy-side private equity deals with integrated tax and financing expertise, allowing the firm to handle a wide variety of investments, acquisitions, and fundraising rounds for domestic and international PE/VC funds as well as for the shareholders of target companies. Drawing on the expertise of Axel Maeterlinck, the team also acts on a growing number of fund structuring matters. Maeterlinck co-leads the practice with transactions expert Tom Swinnen and Steven Callens, who also focuses on dispute resolution. Sandrine Hirsch retired in June 2023.

Practice head(s):

Axel Maeterlinck; Steven Callens; Tom Swinnen

Other key lawyers:

Nikita Tissot


‘Team that responds immediately and to the point. They make it an attention point to lighten the legal work for the company and to support efficiently. Partner stayed involved during the process and gave direction where needed.’

‘High-quality advice.’

Key clients


Telos Climate Fund

Ring Capital

Active Partners Investments LLP


Work highlights

  • Advised Active Partners on a funding round of €22 million in Classified Cycling.
  • Advised Ring Capital as lead investor on a Series A funding round in Soil Capital.
  • Assisted Meilleurtaux with its acquisition of the Belgian-based credit and insurance broker Mid Finance.