Private equity in Belgium

Allen & Overy LLP

Allen & Overy LLP's credentials as a top-tier firm are underpinned by its strong track record in large, structurally complex Belgian and cross-border transactions. Reflective of the breadth of the practice, it is also a strong choice in smaller-scale deals. Clients of the firm include private equity investors, target companies, banks and management teams. The first-rate team, which is led by Wouter Van de Voorde, has extensive expertise in all stages of the lifecycle of transactions. It includes Dirk Meeus, who is dual New York- and Brussels-qualified. Pierre-Olivier Mahieu has more than 25 years of experience executing complex transactions. Hans KetsFrederiek Adams and counsel Sophie Rutten are among other key practitioners in the group, which is spread between the Brussels and Antwerp offices.

Practice head(s):

Wouter Van de Voorde

Other key lawyers:

Dirk Meeus; Pierre-Olivier Mahieu; Hans Kets; Frederiek Adams; Sophie Rutten; Diewertje Castelein; Juno Hautekiet; Gabrielle Vliegher


‘Dedicated team with deep knowledge of local entrepreneurial landscape within a market-leading international law firm. Team understanding logic of an investor.’

‘Frederiek Adams: very talented and eager to support, does not over-complicate matters and understands pragmatic advice is often more valuable vs. identifying all potential legal risks. Juno Hautekiet: talented younger member of the team.’

‘Dirk Meeus is no doubt one of the top corporate lawyers to go to if you have a big and/or complex transaction. His wealth of experience in both private deals and capital markets transactions, in combination with his extensive network and his superior negotiation skills, make him an icon in the Belgian corporate scene. Frederiek Adams is clearly making his way through the ranks. Brilliant and great person to work with.’

Baker McKenzie CVBA/SCRL

Baker McKenzie CVBA/SCRL has an outstanding track record in domestic and cross-border buyout transactions. In 2020, highlights included Dominique MaesKim Stas and real estate partner Jean-François Vandenberghe acting for Arcus Infrastructure Partners on its investment in Stockhabo. Also notable is that Luc Meeus led the advice to Belgian biopharma company MRM Technologies on its €14m investment in MRM Health.  The firm also has a standout fund formation offering, as was evidenced in 2019 when Meeus and Kristoff Cox acted for the general partner of The Good Life Development Fund II on the structuring and establishment of its second generation fund. Practice head Roel Meers and Koen Vanhaerents are also recommended.

Practice head(s):

Roel Meers

Other key lawyers:

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


‘While Baker McKenzie is a top tier law firm, their legal fees remain reasonable as they work in small teams. They are very pragmatic and business-oriented, fighting the right battles.’

‘Luc Meeus is an excellent and business-oriented lawyer. He is one of the most outstanding lawyers that have advised us in terms of investment fund structuring and tax, knowing perfectly the market practices and providing balanced legal documentation between fund managers and investors. I wouldn’t work with another law firm anymore in this field.’

‘Our main contact is Luc Meeus. Luc is working for over 10 years now on all our funds and has become a “compagnon de route”. The way he helps us growing and optimizing the existing and new structure has shown he brings real added value. Luc has been always available 24/7.’

‘Luc is a friend and my right hand. Very trustworthy, always relaxed and very knowledgeable.’

Key clients

TA Associates

Core Equity

Ergon Capital

Korys Investments

CVC Capital

M80 Capital

Federal Holding and Investment Company (FPIM-SFPI)

The Faktory

MRM Technologies


Kebek III

The Good Life Development Fund II

OMX Venture Europe

Newton BioCapital


Walloon Region Investment Company (SRIW)

Fortino Capital

De Cronos Groep

KBC Securities

Work highlights

  • Advised Fortino Capital on the fund formation and capital raising for its fifth flagship fund. Fortino Capital is a venture capital and growth equity firm based in Antwerp and Amsterdam, with focus on software, digital conversion and IT services. During recent years, it has announced the creation of new funds, investing millions of dollars in different markets.
  • Advised Korys Investments, one of the largest Belgian family offices, on its cornerstone investment and advisory role in respect of OMX Ventures Europe FCPI, a new life science VC fund established together with Mérieux Equity Partners. The fund creates a unique new platform for the two strong life sciences teams of Korys Investments and Mérieux Equity Partners in a cross-border setting.
  • Advised private equity firm M80 Capital Comm. V on its buyout of Belgian tent manufacturer and temporary structures specialist Spantech International SA.

Freshfields Bruckhaus Deringer

Clifford Chance

Clifford Chance excels in covering the entire ambit of issues arising from high-profile and complex transactions, with its M&A capabilities being complemented by strengths in related areas, such as finance, capital markets and tax. Recent headline transactions included Xavier Remy and employment counsel Gert Cuppens advising Dedalus Holding and its main shareholder, Ardian, on the €975m sale by Agfa-Gevaert of part of its healthcare business. Also notable is that Remy advised APG on its acquisition of a 39% stake in Interparking from CPP Investment Board Europe in 2019. Alexandre Ooms advises on the tax aspects of transactions. Senior associate Patrice Viaene is another key figure in the team, which is led by Niek De Pauw.

Practice head(s):

Niek De Pauw

Other key lawyers:

Xavier Remy; Alexandre Ooms; Patrice Viaene


‘A practice with tons of knowledge and experience on board, a huge international network to rely upon, but very agile and flexible at the same time.’

‘I worked closely together with Patrice Viaene on several deals and have to admit that he is a very unique personality. Very rarely I get the opportunity to work with such a bright mind, while at the same time being very solution oriented. He always finds pragmatic solutions to rather complex problems. He has a true business mindset and is very balanced in negotiations, which I value the most.’

Key clients

Consortium APG /QIC/Swiss Life/PMV






Marnix Luxembourg Holding SARL






Work highlights

  • Advised a consortium (APG, QIC, Swiss Life and PMV) on successful acquisition of Macquarie’s 36% stake in Brussels Airport.
  • Advised Triton on the acquisition of Fero, a leading player in traffic management services in Belgium, by AVS Verkehrssicherung.
  • Advised Deliverect on its Series A and Series B financing.


Linklaters' private equity practice is one of the most active in the Belgian market for high-value deals. It draws upon the firm's strengths in multiple areas to serve as a one-stop shop to clients, including M&A, finance, tax, incentives and regulatory. Charles-Antoine Leunen leads the team, which combines local market knowledge with international deal experience to cover the entire private equity lifecycle; its work includes fund structuring and formation, investment transactions, portfolio management and exits. In a recent highlight, Leunen and counsel An-Sofie Van Hootegem acted for Sofina SA/NV on its acquisition of a 49% minority interest in Nuxe Group. Arnaud Coibion regularly advises notable clients such as PAI Partners, Carlyle Group and Cobepa. Filip Lecoutre recently made partner.

Practice head(s):

Charles-Antoine Leunen

Other key lawyers:

Arnaud Coibion; Filip Lecoutre; An-Sofie Van Hootegem


‘Charles-Antoine Leunen is a brilliant lawyer who combines his finance background with a strong M&A and PE-practice, vast capital markets experience, corporate restructuring skills, while being a reference at the same time on regulatory issues. This breadth of experience is rare and makes him one of the stars in the Belgian legal landscape. On top of that he is a wonderful person with broad interests, which makes it all the more pleasant to work with. Anne-Sophie Van Kemmelbeke is an excellent associate who delivered top quality service on our latest corporate bond issuance. Knowledgeable about every detail of the transaction.’

‘The team is dedicated to the client and really understands our needs. They also have a very good network and excellent integrated services. The partner in charge is always having an eye on the transaction to ensure the service meet the clients’ expectations.’

‘Charles-Antoine Leunen knows our business very well and tailors his advice to our needs. He also has a personal relationship with senior management and knows how to deal with them and what they expect from him.’

‘The team from Linklaters is great. They have a unique level of experience, they know everybody in the sector and they combine business sense with great technical skills.’

‘Charles-Antoine Leunen is way above the pack. That’s an amazing lawyer. Still young, he has incredible experience in all ranges of private equity but also M&A and corporate finance matters. Truly dedicated to his numerous clients, he knows them from inside and can react promptly and with an incomparable deal-making/solution-minded approach.’

Key clients



PAI Partners




TDR Capital

Doughty Hanson



Gilde Equity Management

Gilde Buy-Out Partners


Hg Capital

Warburg Pincus

The Carlyle Group

BNP Paribas Fortis Private Equity

MVM Partners

Work highlights

  • Advised Cobepa on its investment, as minority shareholder, in Brunchco 21 SA/NV, a Belgian company newly incorporated for the purposes of the acquisition of the Belgian and French activities of PQ Licensing SA/NV Compagnie Benelux Participations SA (Cobepa).
  • Advised Warburg Pincus on the acquisition of Banca Monte Paschi Belgio.
  • Advised MVM Partners on its €12.4m investment in MDxHealth NV/SA, a multinational healthcare company listed on Euronext Brussels.

Loyens & Loeff

Loyens & Loeff's Brussels team, which is a core part of the firm's wider global network, is adept in handling strategically significant private equity and venture capital transactions for its clients. Grégoire Jakhian leads the group, which advises private equity houses, institutional investors and target companies, among other clients. In addition to acting for global behemoths, such as Bain Capital and The Carlyle Group, the firm also advises start-up and venture capital firms. It leverages its strengths in a wide range of disciplines to cover all the intricacies of complex deals, including corporate, finance, regulatory and tax.  In addition to generating a strong flow of standalone instructions in its own right, the firm also captures a significant amount of referral work from international law firms. In one recent highlight, Robrecht Coppens and Mathias Hendrickx were among the advisers to Chicago-based private equity firm Madison Dearborn Partners on its C$981m acquisition of IPL Plastics. Wim Vande Velde and senior associates Aubry Daerden and Filip Jorens are also recommended.

Practice head(s):

Grégoire Jakhian

Other key lawyers:

Wim Vande Velde; Robrecht Coppens; Aubry Daerden; Mathias Hendrickx; Filip Jorens


‘Approachable and knowledgeable.’

‘Robrecht Coppens is a lawyer with the customer in mind.’

Key clients

Iconiq Capital

Marlin Equity Partners

Open Gate Capital

Anthemis Group

Antin Infrastructure Partners

TowerBrook Capital Partners

Guggenheim Partners Investment Management

Ontario Teachers’ Pension Plan



H.I.G. Capital Partners

AAC Capital

Sunrock Investments BV

The Carlyle Group

Lone Star Funds

Cinven/Bain Capital

Work highlights

  • Assisted Lone Star Funds with its acquisition of the construction chemicals business of BASF.
  • Assisted Gilde Buy Out Partners with the formation of Gilde Buyout Fund VI with commitments exceeding €1.35bn.
  • Assisted San Francisco, CA-based investment advisory firm Iconiq Capital with subscription to the capital increase of Collibra NV. Collibra NV is the Belgian leader in data governance software business users.


Stibbe has a strong track record handling private equity and venture capital buyout transactions for domestic and international clients. It also excels in the structuring and formation of funds, as well as debt and equity-side investments and incentive arrangements. Stefan Odeurs heads up the practice, which sees multiple departments work together, including corporate and M&A, banking and finance, EU competition and IP. Odeurs and Jan Peeters worked with the tax team to advise Sofindev IV on the structuring of Sofindev V (which raised €170m in capital commitments) and they also acted for Sofindev V on the acquisition of a 50% stake in IT company Chistiaens NV. Also notable is that Dries Hommez led a group which advised Apax Partners SAS on the acquisition of the parent company of Destiny NV from Mentha Capital BV.

Practice head(s):

Stefan Odeurs

Other key lawyers:

Dries Hommez; Jan Peeters


‘Strong experienced M&A team. Very pragmatic and solution-oriented approach.’

‘Stefan Odeurs: very pragmatic and solution-oriented person. Vast experience in M&A. Very good understanding of deal structuring and financial valuation parameters. Non-aggressive style and very apt in non-plain vanilla transactions. Dries Hommez: vast experience of private equity M&A. Excellent deal-making skills.’

Key clients

Apax Partners

Avista Capital Holdings

HLD Europe






Gilde Equity Management



Providence Equity LLP

Smile Invest



Vista investors

Work highlights

  • Assisted Avista Capital Partners with the acquisition of a 50% stake in Vision Healthcare, an omnichannel consumer healthcare company, active in different European countries. This transaction represents the largest Belgian deal in months and will enable Vision Healthcare to become an international platform that is also active in US.
  • Assisted Gimv with the acquisition of a significant stake (40%) in Televic, a global player in high-tech communication systems.
  • Acted for Tosca, an innovator in reusable packaging and supply chain solutions, backed by Apax Partners, on its acquisition of the Contraload group, European market leader in the pooling of plastic pallets and ICBs, aiding in the reduction of their customers’ carbon footprints. The firm had previously also assisted Gimv with the acquisition of 32% of the capital of Contraload.

White & Case LLP

At White & Case LLPThierry Bosly has been instrumental in the growth of the firm's private equity practice in Brussels since his arrival from Linklaters in 2003. In a notable development, he was appointed as the regional head of the MEA corporate private equity section in 2019. In addition, Bosly serves as a global co-head of the family offices practice. The firm is a strong choice for cross-border deals, with its international reach being complemented by a wealth of in-house corporate, banking, capital markets and tax expertise. Bosly is part of a team including recently promoted partner Thomas Glauden and Nick Hallemeesch, which is advising Active Ownership Capital on a significant investment in Belgian listed company Agfa Gevaert NV. Another recent highlight involved advising Metric Capital Partners on its indirect acquisition of shares in Less Mess Storage, as well as its wholly-owned Polish and Czech subsidiaries. Muriel Alhadeff joined E-Merge in July 2020.

Practice head(s):

Thierry Bosly

Other key lawyers:

Thomas Glauden; Phillippe Hendrickx; Nick Hallemeesch


‘Small, coherent, resilient team perfectly at ease with the specificities of the transaction they supported (Healthcare EU-Japan).’

‘Thierry Bosly played perfectly his role as head of the practice. More junior people brought also excellent value (particularly Thomas Glauden).’

Key clients


Colisée Group



Active Ownership Capital

IK Investment Partners

International SOS

Work highlights

  • Advised longstanding client Cobepa on the sale by Five Arrows (an investment fund affiliated to Rothschild and BIP) of their 33% stake in the Socotec Group to Clayton Dubilier & Rice. Socotec is a French based consultant specialising in the construction and infrastructure sectors with an enterprise value of €1.8bn. Cobepa will continue to be the majority shareholder with 67% of the shares.
  • Advised France-headquartered client Socotec Group on the acquisition of ArchEng, the holding company of five legal entities: Vidaris, Inc., LPI, Inc. (2013), CBI Consulting, LLC (2017), C2G International and Synergen Consulting International.
  • Advised Metric Capital Partners on the indirect acquisition of shares in Less Mess Storage S.A., a Luxembourg holding entity, and its wholly owned Polish and Czech subsidiaries.


Tom Vantroyen and Marie Brasseur jointly lead the team at ALTIUS, which has extensive expertise in a broad cross-section of private equity transactions, including buyouts, recapitalisations and exits. It is equally strong in venture capital deals, where it advises on investments into early-stage companies, particularly those operating in the life sciences industry. Audrey Zegers, who joined as a managing associate from PwC Legal in May 2020, was recently promoted to counsel. She has funds, regulatory and leveraged finance expertise. Elsewhere, the firm is able to draw upon the expertise of practitioners active in areas such as employment, IP/IT and competition to cover a wide range of issues arising from transactions. In a recent highlight, Vantroyen and others acted for Carl Zeiss Ventures on its investment in Perseus Biomics. Carine Van Regenmortel practises as an of counsel.

Practice head(s):

Tom Vantroyen; Marie Brasseur

Other key lawyers:

Audrey Zegers


‘We really appreciated the capacity of Altius’ team to understand our own stakes and challenges. Our operations are geographically diverse and we required a lot of flexibility, pace and creativity from Altius. They have always been reactive and solution-oriented. We recommend them.’

Key clients

Acces Capital Partners Group


Carl ZEISS Ventures

Indufin Capital Partners


Otium Capital

Work highlights

  • Assisted GENMAB, the listed Danish biotech company, with its strategic investment in BIOQUBE VENTURES, a new fund managed from Belgium with a focus on biotech investments in Europe.
  • Assisted private equity fund Indufin Investment Fund with its investment in Springbok, a next-gen hybrid agency (digital marketing).
  • Assisted Industrial Opportunity Partners (IOP), an operations-focused US-based private equity firm, with its acquisition of PolyVision Corporation, formerly a subsidiary of Steelcase Inc. with operations in Belgium.


ARGO Law's corporate finance team takes the lead on the firm's private equity work, which includes transactional assistance, as well as support on day-to-day business issues. The group, which is jointly led by Kris Verdoodt and Bert Van Ingelghem, works with members of the banking and finance, tax and corporate litigation departments to provide integrated support. As part of an ongoing trend, the practice has continued to undergo significant expansion; in 2020, managing associates Louis Hoet and Jolien Loos joined from Allen & Overy LLP and Laurius respectively. In one mandate for the team, Van Ingelghem led the advice to Fortino Capital on its investment in Sigma Conso.

Practice head(s):

Kris Verdoodt; Bert Van Ingelghem

Other key lawyers:

Philippe Rens; Freya Jorens; Evelyn Van Raemdonck Mattias Verbeeck

Key clients



Waterland Private Equity

We Are Jane

Legia Capital


Smile Invest

Integra Fund

Hummingbird Ventures


Fortino Capital

Torqx Capital

Work highlights

  • Acted for Vectis Private Equity and the selling shareholders on the sale of Amadys to Equistone.
  • Advised Down2Earth and Gimv on their sale of Contraload to Tosca, an American supplier of reusable packaging and supply chain solutions, backed by Apax Partners funds.
  • Advised Down2Earth on its platform investment in Grandeco Wallfashion Group – Belgium NV, one of the world’s leading wallpaper producers.

DLA Piper

DLA Piper's private equity and venture capital practice, which is spread between the Brussels and Antwerp offices, provides an end-to-end user service to clients on all aspects of the fund formation and management lifecycle. Pierre Berger has acted on the creation of a number of innovative new funds in Belgium, including in the crypto/blockchain space. In addition, it demonstrates strong capabilities in buyout transactions and exits, as well as portfolio work and tax-related private equity mandates. The firm generates a strong flow of work from domestic and international private equity houses; clients include Torqx Capital Partners, Carlyle, Tioga and Salesforce Ventures. It also has a strong profile among tech companies, for whom it handles their private funding rounds and venture capital investments. One of the names to note in the team is Michaël Heene, who led the advice to The Pacific Media Group on the widely publicised acquisition and rescue of Belgian football club KV Oostende. Another key figure is Koen Selleslags, who was part of the group which acted for Highlander Partners and portfolio company Biamp on Biamp's acquisition of Audioprof. Caroline Daout and Erwin Simons are also recommended.

Practice head(s):

Caroline Daout; Koen Selleslags; Erwin Simons; Michaël Heene; Pierre Berger

Other key lawyers:

Sander Buysse; Andreas Van Impe


‘To make an M&A transaction successful you need to have the best team in place to close a deal: I think that’s the main USP of DLA, next to the fact that their knowledge of deal structuring, deal advisory and pragmatic approach is probably the best in the world.’

‘Michaël Heene: smart, agile approach and super communication skills to convince counterparties and build trust among the principals. This is needed for technology companies and not many lawyers have this DNA. Big active contributor in deal closing with international principals in a difficult environment.’

‘Very smooth team: they know how to work together.’

‘Partner Koen Selleslags, explains very well what are deal-breakers and what are not. He knows how to make good compromises. He is also very good in guiding the client through the deal and you can rely on his qualitative work.’

Key clients

Torqx Capital Partners

Highlander Partners


The Pacific Media Group




Top Tier Access

Salesforce Ventures

Trocadero Capital Partners

Bregal Milestone


Miraclon (Montagu portfolio company)

Ackermans & Van Haaren

Work highlights

  • Advised Singapore Technologies Engineering (a global technology, defence and engineering group specialising in aerospace, electronics, land systems and marine sectors) on its $383m acquisition of Newtec (a Belgium-based group specialised in the design, manufacturing and development of equipment and technologies for satellite communications).
  • Advised leading technology company Showpad on its €70m funding round in which PE funds Insight Venture Partners (US-based), Dawn Capital (UK-based), Korelya Capital (France-based) and Hummingbird (Belgian-based) participated.
  • Advised Trocadero Capital Partners, Salesforce Ventures and the management on the exit from 4C Group, a pan-European platform for salesforce implementation (Belgium, The Netherlands, France, UK, Denmark and UAE).


Eubelius is a trusted adviser to a wide range of clients on their most challenging and significant transactions, including private equity and venture capital houses, portfolio companies and management teams. Managing partner Matthias WautersErwin Destuyver and Filip Jenné jointly lead the group, which works with foreign law firms worldwide on inbound and outbound private equity transactions, as well as acting for clients on a standalone basis. The team is experienced in spin-offs, buyouts, buy-ins and exits, among other matters. Destuyver is particularly active in transactions with a nexus to the pharmaceutical sector. In addition, fund formation and management work is a driver of activity for the firm. Counsel Felix Dobbelaere is another key individual in the team.

Practice head(s):

Matthias Wauters; Erwin Destuyver; Filip Jenné

Other key lawyers:

Felix Dobbelaere

Key clients

KeBek II / KeBeK III

BNP Paribas Private Equity

Damier Group


Chequers Capital


Agro Investment Fund

Bain Capital

Taconic Capital

New Alpha Asset Management

Work highlights

  • Assisted Vision Healthcare, an online platform specialised in the sale of food supplements, cosmetics and healthcare products, with its €35m capital increase.
  • Acted for the shareholders and CEO of the Ad Ultima group on an investment by the investment fund Waterland.
  • Advised Graftys on a €4.1m capital increase by four investment funds (three Belgian, one French).

Monard Law

Monard Law's fast-growing practice covers every stage of the private equity lifecycle, with matters ranging from fund formation and capital raising to strategic investment transactions and exits. It is also a major player in the venture capital arena, where it acts for investors, start-ups and scale-up companies. The firm draws upon the expertise of practitioners in areas such as M&A, tax, regulatory and debt finance, among others. Nicole Segers co-heads the group with Katrien Vorlat, whose practice has a focus on the technology and pharmaceutical sectors. Vorlat was part of a cross-practice team which advised Rohatyn Group on its acquisition of Optipharm Group. Maxime Monard, who made partner in September 2020, is also recommended along with Pieter Van den Broeck.

Practice head(s):

Nicole Segers; Katrien Vorlat

Other key lawyers:

Pieter Van den Broeck; Maxime Monard


‘Excellent team, great market knowledge and expertise.’

‘Pieter van den Broeck is an outstanding M&A lawyer, very much hands-on and really on the ball. He and his team have extensive experience in private equity and venture capital transactions.’

‘Monard Law understands startups and scale-ups. They have been there since the start, are experienced, kind, understand the entrepreneur and are cost-friendly.’

‘Pieter van den Broeck provides excellent client service, is very proactive and manages cases and clients very efficiently, in a very friendly way. His legal knowledge is also impressive of course.

‘The team excels in to-the-point communication and delivering excellent work on time, always in line with the promised deadlines taking into account the priority of the requests. Another strong unique point is the way they can put themselves between parties looking for a common ground to build relations, instead of only listening to their client. A very strong commercial way of communication that creates win-win situations with respect from each party at the table for the firm.

‘Maxime Monard is excellent in his way of looking for common ground between parties, very straightforward communications and delivering high-quality documents from the start always respecting deadlines. On top of that, it’s very easy to get in touch which makes them very accessible.’

‘The documents delivered by Maxime Monard are not only of a very high quality, they are always very transparent and easily understandable also for parties with limited (or no) specific background in this field. Besides that, Maxime Monard has a very natural capacity to easily guide parties through the documents so everyone is on top of things.’

Key clients

Dawn Capital LLP

Korelya Capital


The Rohatyn Group





FRX Polymers

Work highlights

  • Advised Soudal NV on the acquisition of a majority stake (70%) in De Neef Chemical Processing NV (DNCP) from Union Betco NV, the investment vehicle of the De Neef family.
  • Assisted the shareholders of longstanding client Genae Associates (founder and PE fund Korys) with the competitive and successful auction sales process whereby Genae Associates was sold to a leading listed healthcare multinational. The sales process was led by a US investment firm (Fairmount Partners).
  • Acted as sell-side counsel to the shareholders of Sweagle NV on the sale of 100% of the share capital in Sweagle NV to ServiceNow, a global leader in software for digital workflows. Sweagle is a Belgian startup which develops and markets innovative software to manage, secure and control configuration data.


NautaDutilh's team is experienced in structuring alternative investment funds and co-investment funds, as well as advising on related regulatory issues. It also assists clients with a wide variety of transactions, such as LBOs, MBOs, public-to-private deals and exits. In 2020, Philippe Remels led the advice to Dovesco (the private equity investment company/family office of a branch of the De Clerck family) on its acquisition of the Narviflex group. In another matter, he assisted health-tech start-up Nyxoah with a €25m capital increase by way of a private funding round. Elke JanssensNicolas de Crombrugghe and Sophie Jacmain are other notable individuals in the group. Maxime Colle joined Lydian.

Practice head(s):

Elke Janssens; Nicolas de Crombrugghe; Sophie Jacmain; Philippe Remels

Other key lawyers:

Ken Lioen; Thibaut Willems

Key clients



Levine Leichtman Capital Partners



VMF Invest

Dovesco / Domo Investment Group

Bay Grove Capital, LLC


Work highlights

  • Advised European private equity group Astorg on its contemplated acquisition of a majority stake in Normec Holdings BV.
  • Assisted Levine Leichtman Capital Partners Europe with its fourth direct investment in the Benelux through a majority investment in SiPM Group, a pioneer in high-impact e-learning solutions for blue-chip corporations worldwide.
  • Assisted Nyxoah with a €25m private funding round.


Gisèle Rosselle leads Strelia's team in Brussels, which is particularly noted for its work in the biotech sector, where it has a strong profile acting for life sciences investment funds and Belgian biotech companies. Elsewhere, the firm is also engaged in transactions involving other industries, such as manufacturing, technology and chemicals. In 2019, Laurent Verhavert acted for German investment fund JOIN Capital on a Series B private equity investment in Belgian tech company Proxyclick, alongside Five Elms Capital. Also notable is that the successful growth of the firm's private equity offering in Belgium has led to it opening an office in Luxembourg.

Practice head(s):

Gisèle Rosselle

Other key lawyers:

Laurent Verhavert


‘Strelia is a very good independent Belgian law firm that is perfectly adapted for international deals when targets are in Belgium. The corporate team has high technical skills, is very responsive and easy to work with.’

‘We mainly worked with Gisèle Rosselle and her team. Gisèle is extremely competent, responsive and understands the business aspects of transactions. She is very pleasant to work with.’

Key clients



HJJ Capital

EPICS Therapeutics



Synergia Medical



Alvalux Medical






Join Capital


Novadip Biosciences

Work highlights

  • Assisted the French and Euronext-listed company Rubis SCA, leader in the petroleum and chemicals industry, with an auction-sale of a stake of its French subsidiary Rubis Terminal SA, which, in its turn, holds 50% in a Belgian joint venture company, to US private equity fund I-Squared Capital.
  • Assisting HJJ Capital with the sale of a stake in global open-source software provider Odoo.
  • Acted for Vancouver-based backpacks and apparel manufacturer Herschel Group on minority investments by Eurazeo Brands, ACG and HOOPP Capital Partners.