Private Equity

An original strategy

Investing

in mature companies active in B2B with strong growth or in sectors with redeployment potential in the context of business transfers and management buy-outs (MBOs).

Supporting

the growth of scale-ups through direct capital, as well as through the contribution of skills and networks

Acting

as a professional shareholder in our participations at the level of governance, strategy, development and financing.

Aligning

financial interests with those of management.

Our 5 levers of value creation

1

Acquisition at a reasonable price

2

Partial financing of acquisitions by bank debt

3

Growth objective through commercial and technological dynamics

4

"Buy & Build" platform strategy

5

Exit policy in agreement with management

Our positioning in the investment cycle

Maximum 25% Growth

Investments in scale-ups are also made provided that the valuation is reasonable and that we can act as an active shareholder.

Minimum 75% Mature

Mature companies are bought at (significantly) lower multiples, while being (often) less risky and being potentially fundable by bank debt. Our objective is to (re)move them towards growth.

Our investments

All Energy Transition Specific materials SMEs

Energy Solutions Group

2.31%

Battri

Newtree Impact

12.3%

Gold and Forex International

56.7%

Iso-Tech

50%

Atima TPIM

46.5%

Sibelco

520 actions

European Capital Partners

20%

Freedelity

23.4%

EMAsphère

9.9%

Abbove

11%

Emulco

25%

Probiotic Group

10%

Our current portfolio

As a percentage of the Group’s Net Assets Value, representing €52.1 million (latest estimate at 31/12/23, taking into account the capital increase in kind on 28/02/2024).

Whitestone Group invests mainly in SMEs based in Belgium in order to develop them through minority and majority shareholdings with a long-term impact (of the “Evergreen” type), while ensuring that the portfolio rotates. This is done mainly in profitable Belgian SMEs, with a progressive focus on the ESG dimension.

The portfolio is diversified in private companies, mainly (re)organised around the 3 new pillars:

Energy transition
Specific materials (including precious/rare metals)
SMEs based mainly in Belgium.

Asset Management

Through our funds

Whitestone manages a SICAV-SIF, dedicated to experienced investors, which includes two sub-funds:

A flexible multi-asset fund (equities/bonds/cash)
A family holding company fund which invests not only in Belgian holding companies but also in other regions of the world, offering a high degree of diversification.

In discretionary management

Next to its own funds, ECP offers personalised wealth management services by creating a financial plan tailored to your needs. Our teams of specialists in asset management, private equity, credit and real estate work to ensure that your wealth reaches the goals you have set for yourself and your family.

Discover European Capital Partners.