The metal manufacturing industry in Benelux plays a vital role in Europe's production ecosystem. It includes companies that process and create products from materials like aluminum, steel, and copper, serving sectors such as automotive, construction, and electronics. Many of these manufacturers emphasize technological advancement and sustainability, integrating innovative methods into production. As the demand for lightweight and durable materials escalates, businesses are adapting by investing in automation and smart manufacturing practices. Notably, the sector is also responding to the rise in electric vehicles, pushing for new metal solutions that align with eco-friendly standards.


The list of investors in the Benelux metal manufacturing industry showcases a varied mix of financial players, such as venture capital firms and private equity groups. Based in cities like Amsterdam, Brussels, and Luxembourg, these investors range in size and expertise. Founded between 1926 and 2021, they collectively supported over 160 deals in 2024, including prominent contributions from firms like Mutares Benelux and Finindus, signaling robust activity. Their strategies highlight opportunities for growth and innovation in a sector well-positioned for future expansion.


Top 14 Metal Manufacturing Investors in Benelux


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. Among its notable transactions, the EIC has provided grants to companies like Headmade Materials, which raised $6,623,893 in February 2022 and focuses on advanced metal manufacturing technologies. Additionally, Polymertal received a grant of $1,999,466 in March 2020, indicating the EIC's commitment to fostering innovation in the metal sector. These transactions highlight the EIC's role in supporting the development of technologies that can impact the metal manufacturing industry.


2. 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 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 metal manufacturing industry, with key transactions such as the acquisition of Rasche Umformtechnik GmbH & Co. KG, which generates approximately EUR 30 million in revenues, and Buderus Edelstahl, further solidifying its presence in the metal sector. Additionally, the acquisition of Special Melted Products, which focuses on engineering and technology within the metal industry, showcases Mutares' commitment to enhancing its portfolio in this domain. Overall, Mutares Benelux is positioned as a versatile investor with a growing footprint in metal manufacturing.


3. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services. The EIB focuses on supporting sustainable projects that promote growth and job creation across various sectors. Notably, the EIB has been involved in significant transactions within the metal manufacturing industry, such as providing debt financing to Marcegaglia, which raised over $105 million in December 2024, and supporting Umicore with substantial post-IPO debt financing totaling over $377 million in February 2024 and $141 million in June 2020. These transactions highlight the EIB's commitment to financing initiatives that are crucial for the metal manufacturing sector, alongside its broader investment strategy.


4. 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, partnering with management teams to address challenges and drive growth. Notably, Triton has made significant investments in the metal manufacturing sector, including the acquisition of Ovako, a steel production company, and BFC Fahrzeugteile, a leading supplier of metal-based clamping profiles for the automotive industry. These transactions highlight Triton's commitment to the metal manufacturing industry, alongside their broader investment strategy.


5. 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 founded in 2005, based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. With approximately €193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Among their notable transactions, CVC acquired Infastech in 2010, a company that produces fasteners and components essential for various metal manufacturing applications. In 2011, they acquired Delachaux, which operates in sectors that include metal manufacturing. Additionally, their acquisition of Kalle in 1997 and Pasubio in 2017 further demonstrates their engagement in industries that intersect with metal manufacturing. Their recent investment in Hempel, while primarily in the coatings sector, also reflects their broader investment strategy that can include companies involved in metal-related applications.


6. Astorg

  • Website: astorg.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 1998
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: astorg

Astorg is a private equity firm founded in 1998, based in Luxembourg, specializing in investments in global B2B companies. With €22 billion in assets under management, Astorg focuses on creating long-term value through a disciplined investment process and strong partnerships with entrepreneurs. The firm has made significant strides in the metal manufacturing sector, highlighted by their acquisition of Lebronze Alloys, a company specializing in copper alloys, and Metalor Technologies International SA, a leader in precious metals and advanced materials. Additionally, Astorg's acquisition of Corialis, a European manufacturer of aluminum systems for windows and doors, showcases their commitment to the metal industry. These strategic investments reflect Astorg's capability to provide capital, strategic guidance, and governance to management teams in the metal manufacturing sector, alongside their broader focus on healthcare, technology, and business services.


7. Finindus

  • Website: finindus.be
  • Type: Venture Capital
  • Headquarters: Zelzate, Flanders, Belgium
  • Founded year: 1926
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: finindus

Finindus is a venture capital firm based in Zelzate, Flanders, Belgium, founded in 1926. The firm specializes in providing early-stage and growth financing to innovative technology companies, particularly in the fields of materials, sustainable manufacturing, and Industry 4.0. They focus on maximizing long-term value creation through proactive and pragmatic assistance. Notably, Finindus has been involved in several transactions relevant to the metal manufacturing sector, including a $2 million seed round investment in Fortius Metals in October 2024, which is directly related to metal manufacturing. Additionally, they participated in a significant equity fundraising for Borit NV in 2014, further demonstrating their engagement in the materials and manufacturing space. Their investment in Tau Group, which raised $1,628,725 in a Series B round in October 2024, also indicates their ongoing interest in innovative manufacturing solutions.


8. ArcelorMittal


ArcelorMittal is a prominent corporate investor based in Luxembourg, founded in 2006. As a leading steel and mining company, it specializes in the production of steel products and mining services. The company serves various industries, including construction and automotive, by providing sustainable steel solutions and engaging in innovative research and development in steel technology. While there are no specific transactions reported for 2024, ArcelorMittal's extensive operations and focus on steel production underscore its role as a key player in the metal manufacturing sector, making it a significant investor in this field.


9. 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. Their clientele primarily consists of entrepreneurial companies seeking capital and expertise to navigate market challenges. Notably, Gimv has made significant investments in the metal manufacturing sector, including the acquisition of Arplas Systems, a provider of resistance projection welding solutions, and Witec, a contract design manufacturer of high-tech precision parts. Additionally, they have acquired companies like VCST Industrial Products and Alro group, which further solidifies their presence in the metal manufacturing landscape. These transactions highlight Gimv's strategic focus on supporting companies that contribute to the metal manufacturing industry.


10. AkzoNobel

  • Website: akzonobel.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1792
  • Headcount: 10001+
  • LinkedIn: akzonobel

AkzoNobel N.V. is a leading manufacturer of paints and coatings, providing innovative and sustainable solutions for both industrial and consumer markets. Founded in 1792 and headquartered in Amsterdam, Netherlands, the company operates in over 150 countries, delivering high-quality products that enhance and protect surfaces. AkzoNobel serves a diverse customer base, including businesses in construction and automotive industries, as well as individual consumers. Notably, AkzoNobel has made strategic acquisitions that bolster its position in the metal manufacturing sector, such as the acquisition of the alloy wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, which aims to enhance its coatings portfolio for wheel manufacturers. Additionally, the acquisition of VPowdertech and Stahl Performance Powder Coatings further demonstrates AkzoNobel's commitment to expanding its capabilities in coatings technology, which is crucial for metal applications. These transactions highlight AkzoNobel's role in the metal manufacturing industry, particularly in providing specialized coatings for metal products.


11. 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 active in the metal manufacturing sector, having acquired companies such as Kinkelder, a prominent manufacturer of industrial circular saw blades, and Stankiewicz GmbH, which is involved in metal processing. These transactions highlight Gilde's commitment to enhancing operations and market presence in the metal manufacturing industry, alongside their broader investment portfolio.


12. Stellantis

  • Website: stellantis.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2014
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: stellantis-slovakia

Stellantis N.V. is a multinational automotive manufacturer based in Amsterdam, Netherlands, founded in 2014. The company produces a wide range of vehicles, including passenger cars and light trucks, and is committed to electrification and innovative mobility solutions. Stellantis operates through a diverse portfolio of iconic automotive brands and emphasizes sustainability and technological advancement. In 2023, Stellantis participated in several significant transactions, including a $33 million investment in Niron Magnetics, which specializes in advanced materials for electric vehicles, and a $9.9 million investment in Alliance Nickel, a company focused on nickel production. These investments highlight Stellantis's strategic interest in securing materials critical for battery production and electric vehicle manufacturing, positioning it as a relevant player in the metal manufacturing sector.


13. ArcelorMittal Luxembourg


ArcelorMittal Luxembourg is a corporate investor and a leading steel manufacturer founded in 1911. The company specializes in producing a diverse array of steel products tailored for construction and infrastructure projects, emphasizing sustainability and low emissions. ArcelorMittal operates multiple production sites and is dedicated to responsible steel production. In recent years, the company has made strategic acquisitions to enhance its capabilities in the metal manufacturing sector. Notable transactions include the acquisition of Condesa Tubos, a manufacturer of welded steel tubes, and Architectural Steel Ltd, which bolstered their metal building envelope offerings in the UK. Additionally, ArcelorMittal has acquired scrap metal recyclers like Bakermet and Legault Métal, further securing their supply chain for raw materials essential for steel production. These acquisitions reflect ArcelorMittal's commitment to innovation and growth within the metal manufacturing industry.


14. Pmv

  • Website: pmv.eu
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2001
  • Headcount: 51-200
  • Number of deals in 2024: 11
  • LinkedIn: pmv-eu

Participatiemaatschappij Vlaanderen (PMV) is a public entity that acts as an investment company for the Flemish government, founded in 2001. PMV provides a range of financing solutions, including loans and co-financing, to startups, scale-ups, and established businesses across various sectors such as real estate, clean tech, and life sciences. Notably, PMV has been involved in significant transactions within the metal manufacturing context, including an investment in ValCUN, which focuses on developing a novel metal Additive Manufacturing process. This investment highlights PMV's engagement in advancing technologies that enhance the competitiveness of metal manufacturing. Additionally, PMV acquired RapidFit NV, further indicating its interest in companies that may operate within or support the metal manufacturing industry. PMV also participates in broader manufacturing-related investments, such as in Oqton, a software company specializing in AI solutions for manufacturing, which could indirectly benefit the metal sector.



Metal Manufacturing Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
European Investment Bank (EIB)Luxembourg1001-5000195899
Triton PartnersLuxembourg201-50019976
CvcLuxembourg1001-5000200516
AstorgLuxembourg51-20019988
FinindusZelzate, Flanders, Belgium1-1019266
ArcelorMittalLuxembourg, Luxembourg, Luxembourg10001+20060
GimvAntwerp, Flanders, Belgium51-20019808
AkzoNobelAmsterdam, North Holland, Netherlands10001+17920
Gilde Buy Out PartnersUtrecht, Utrecht, Netherlands11-5019820
StellantisAmsterdam, North Holland, Netherlands10001+20147
ArcelorMittal LuxembourgLuxembourg1001-500019111
PmvBrussels, Brussels, Belgium51-200200111


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