The infrastructure construction industry in Benelux comprises a broad array of companies engaged in developing and maintaining essential structures. These can range from transport networks like roads and railways to energy and communication facilities. This industry is marked by its commitment to sustainable practices and innovative technology use, responding to increasing demands for greener solutions and smart infrastructure. With ongoing urbanization and rising investment in public services, the sector's growth shows no signs of slowing. The emphasis on digital infrastructure, such as broadband expansion and smart city initiatives, signals a dynamic future filled with opportunities.


The list highlights 14 prominent investors in the infrastructure construction sector across Benelux. These investors include private equity firms like CVC and venture capital entities such as Gimv, representing various management styles and financial strategies. Most of these firms, based in locations such as Luxembourg and Amsterdam, range in size from small teams to large corporations with thousands of employees, illustrating a mix in investment capacity and expertise. In 2024, these investors collectively engaged in significant deals, with the European Investment Bank leading the charge in both number and capital deployed, focusing on sustainable infrastructure projects.


Top 14 Infrastructure Construction Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services. The EIB focuses on supporting sustainable projects across various sectors, including infrastructure. In 2024, the EIB was involved in significant transactions such as the $467 million debt financing for Adif Alta Velocidad, which is related to high-speed rail infrastructure in Spain. Furthermore, their participation in the TowerCo of Africa project, which raised $40 million to install telecom towers in rural Uganda, underscores their role in enhancing infrastructure that promotes connectivity and economic growth. These transactions demonstrate the EIB's active engagement in financing infrastructure construction projects that aim to foster development and job creation.


2. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential. In the context of infrastructure construction, Triton has made significant acquisitions, including VolkerWessels, a major player in the construction sector, and DYWIDAG-Systems International, a leading systems supplier in civil engineering and underground construction. Additionally, their acquisition of Mark & Energibyggarna i Göteborg AB, which specializes in infrastructure construction and district heating, further enhances their infrastructure services group. These strategic investments highlight Triton's commitment to the infrastructure construction industry and their role in driving growth within this sector.


3. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux, a private equity firm based in Amsterdam, was founded in 2021 and is part of Mutares SE & Co. KGaA, which specializes in acquiring and managing companies in transition. The firm provides operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has made significant strides in the infrastructure construction sector through strategic acquisitions. For instance, they acquired Sirti Energia S.p.A. in September 2022, a company focused on construction and maintenance services in the energy infrastructure market, generating approximately EUR 60 million in revenue. Additionally, their acquisition of NCC Road Service A/S in May 2021 and Nordic Road Services AB in November 2020 further solidifies their commitment to enhancing their portfolio in the infrastructure domain, particularly in road services. These transactions reflect Mutares' strategy to leverage synergies within its Engineering & Technology segment and contribute to infrastructure development.


4. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent investment firm based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. Founded in 2005, CVC manages approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. The firm focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant acquisitions in the infrastructure sector, including DYWIDAG-Systems International, which specializes in construction and engineering solutions, and Abertis, a leading player in toll road management. Their acquisition of Irrawaddy Green Towers, Myanmar's largest telecom tower company, also highlights their commitment to infrastructure development in emerging markets. These transactions underscore CVC's active role in the infrastructure construction industry, making them a relevant investor in this space.


5. Gimv

  • Website: gimv.com
  • Type: Venture Capital
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 1980
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: gimv

Gimv is a venture capital investment firm based in Antwerp, Flanders, Belgium, founded in 1980. The firm partners with innovative companies across various sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Notably, Gimv has made significant strides in the infrastructure construction sector through its recent transactions. In 2023, they acquired Keil & Purkl, a civil engineering specialist, enhancing their portfolio in the infrastructure domain. Additionally, in 2021, they acquired Verkley, a Netherlands-based company specializing in underground energy and water cable and pipeline services. These acquisitions reflect Gimv's commitment to investing in companies that contribute to infrastructure development, making them a relevant player in this industry.


6. Ferrovial

  • Website: ferrovial.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1952
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: ferrovial

Ferrovial is a corporate investor based in Amsterdam, Netherlands, founded in 1952. As a leading infrastructure and construction company, Ferrovial specializes in highway construction, airport management, and energy solutions. The company serves a diverse clientele, including government entities and private organizations, focusing on sustainable development and innovative solutions. Notable transactions include the acquisition of a 36.68% stake in Budimex, a major Polish construction firm, which enhances Ferrovial's presence in Central Europe's construction sector. Additionally, the company has acquired Webber Group for $220 million, Pepper Lawson to strengthen its U.S. construction business, Broadspectrum, and Enterprise plc for over $600 million, all of which underscore its commitment to expanding its infrastructure capabilities globally.


7. BIO - the Belgian Investment Company for Developing Countries


The Belgian Investment Company for Developing Countries (BIO) is a not-for-profit organization established in 2001, based in Brussels, Belgium. BIO focuses on providing investment support and development financing to private sector companies in developing countries, aiming to empower these businesses to thrive and contribute to their local economies. Among its notable transactions, BIO participated in the financing of TowerCo of Africa, which raised $40 million to install 506 new telecom towers in rural Uganda. This project not only enhances telecommunications infrastructure but also creates job opportunities during the construction phase. Additionally, BIO has been involved in other debt financing transactions, such as Irrawaddy Green Towers and Summit Power International Ltd., which, while not directly related to construction, indicate BIO's commitment to supporting projects that can have a significant impact on infrastructure and development in emerging markets.


8. Fugro

  • Website: fugro.com
  • Type: Corporate
  • Headquarters: Leidschendam, South Holland, Netherlands
  • Founded year: 1962
  • Headcount: 10001+
  • LinkedIn: fugro

Fugro NV is a corporate investor based in Leidschendam, South Holland, Netherlands, specializing in geotechnical services and geo-data solutions. Founded in 1962, Fugro has established a global presence and offers a wide range of services including surveying, environmental assessments, and geotechnical investigations, primarily serving clients in the energy and infrastructure sectors. Notably, Fugro has made several strategic acquisitions to bolster its capabilities in infrastructure-related services. For instance, the acquisition of RailData BV in 2014 enhances their expertise in rail infrastructure, while the acquisition of Pavement Management Services in 2008 strengthens their offerings in pavement management. Additionally, the acquisition of Loadtest and VIB-Weinhold in 2009, along with William Lettis & Associates in 2007, further demonstrates Fugro's commitment to expanding its geotechnical consultancy and geohazards practices, which are vital for safe and sustainable infrastructure development.


9. ABN AMRO Clearing Bank

  • Website: abnamro.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1982
  • Headcount: 501-1000
  • Number of deals in 2024: 19
  • LinkedIn: abn-amro-clearing-bank-n-v-

ABN AMRO Clearing Bank, founded in 1982 and based in Amsterdam, Netherlands, is a banking institution that provides a wide range of financial services, including personal banking, business banking, and investment management. The bank serves individual consumers and businesses, helping them manage their financial needs and investments while ensuring compliance with financial regulations. In 2024, ABN AMRO Clearing Bank has been involved in 19 investments, showcasing its active role in the financial market. Notably, the bank participated in the non-recourse financing of Glasfaser Nordwest's FTTH network expansion, raising approximately €800 million to support the rollout of fiber to 1.5 million customers by 2030. Additionally, they were involved in debt financing for projects such as GlasDraad, BNZ energy, and Low Carbon, further emphasizing their commitment to infrastructure-related investments.


10. Cobepa

  • Website: cobepa.com
  • Type: Private Equity
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1957
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: cobepa

Cobepa is a private equity investment company based in Brussels, Belgium, founded in 1957. The firm specializes in providing investment management and strategic support to enhance the growth and sustainability of its partner businesses. Cobepa operates with a permanent capital base, allowing it to invest across various industries, including healthcare and industrial sectors. Notably, Cobepa has made significant investments in companies relevant to infrastructure construction, such as the acquisition of SOCOTEC in 2013, which offers essential testing and inspection services for construction projects. Additionally, their acquisition of Carrières du Hainaut in 2005 highlights their involvement in the supply of construction materials, further solidifying their connection to the infrastructure sector. These transactions demonstrate Cobepa's active role in supporting businesses that contribute to infrastructure development.


11. Van Oord

  • Website: vanoord.com
  • Type: Corporate
  • Headquarters: Rotterdam, South Holland, Netherlands
  • Founded year: 1868
  • Headcount: 5001-10000
  • LinkedIn: van-oord

Royal Van Oord, founded in 1868 and based in Rotterdam, South Holland, is a prominent maritime contractor specializing in dredging, land reclamation, and offshore energy projects. With over 155 years of experience, the company operates globally, providing innovative solutions for climate adaptation and infrastructure development. Van Oord's strategic acquisitions, such as J.T. Mackley & Co in 2014 and MPI Offshore in 2018, highlight their commitment to enhancing their capabilities in the infrastructure construction sector. The acquisition of Dravo S.A. further solidified their presence in dredging works across Spain, Portugal, and Italy. These transactions reflect Van Oord's focus on expanding its operational scope within the infrastructure domain, particularly in sustainable practices and energy transition efforts.


12. Marguerite


Marguerite is an infrastructure investment firm based in Luxembourg, founded in 2010. The firm specializes in sustainable investments across Europe, focusing on initiatives that address climate change and promote economic growth through renewable energy and infrastructure projects. Marguerite's clients include institutional investors looking to align their portfolios with environmental and social governance principles. Notable transactions include their participation in the Vinca waste-to-energy facility construction project in Serbia, where they contributed to a €290 million loan as part of a public-private partnership. They also acquired a stake in the Butendiek offshore wind farm, a significant renewable energy project in the North Sea, with a total project cost of €1.3 billion. Additionally, their investment in Wattif EV supports the expansion of electric vehicle charging infrastructure, further emphasizing their commitment to sustainable infrastructure development.


13. Gilde Buy Out Partners


Gilde Buy Out Partners is a private equity firm based in Utrecht, Netherlands, founded in 1982. The firm specializes in investment management and business transformation services, focusing on providing growth solutions to mid-market businesses across Europe. Notably, Gilde has been involved in several significant transactions within the infrastructure construction context. They acquired Powerlines Group, a technical infrastructure services company, in 2008, highlighting their commitment to the infrastructure sector. In 2017, they acquired De Boer Structures, a builder of temporary facilities and accommodations, further emphasizing their engagement in infrastructure-related projects. Other acquisitions, such as Stankiewicz GmbH, Praesidiad, and Reesink, showcase their diverse investment portfolio, but it is their focus on companies that contribute to infrastructure development that aligns them with the infrastructure construction industry.


14. NPM Capital

  • Website: npm-capital.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1948
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: npm-capital

NPM Capital is a private equity investment firm based in Amsterdam, Netherlands, founded in 1948. The firm specializes in supporting medium-sized and large companies, particularly family-owned enterprises in the Benelux region, by providing capital and strategic advisory services aimed at fostering growth and sustainability. NPM Capital operates across various sectors, including technology, education, and notably, infrastructure-related industries. Significant transactions include the acquisition of Dieseko Group B.V., a company that manufactures equipment for foundation and construction, which directly ties to infrastructure construction. Additionally, NPM Capital's investment in Greenspread, focused on developing sustainable energy projects, reflects their strategy to support infrastructure that contributes to the energy transition in the Netherlands. These investments highlight NPM Capital's role in the infrastructure construction landscape, despite their broader investment focus.



Infrastructure Construction Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
Triton PartnersLuxembourg201-50019976
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
CvcLuxembourg1001-5000200516
GimvAntwerp, Flanders, Belgium51-20019808
FerrovialAmsterdam, North Holland, Netherlands10001+19521
BIO - the Belgian Investment Company for Developing CountriesBrussels, Brussels, Belgium51-20020014
FugroLeidschendam, South Holland, Netherlands10001+19620
ABN AMRO Clearing BankAmsterdam, North Holland, Netherlands501-1000198219
CobepaBrussels, Brussels, Belgium11-5019572
Van OordRotterdam, South Holland, Netherlands5001-1000018680
MargueriteLuxembourg11-5020100
Gilde Buy Out PartnersUtrecht, Utrecht, Netherlands11-5019820
NPM CapitalAmsterdam, North Holland, Netherlands11-5019481


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