The roofing industry in Benelux is vital for both residential and commercial construction. It involves manufacturers of roofing materials, service providers specializing in installation, maintenance, and repair, as well as innovative companies integrating renewable energy solutions into rooftops, like solar panels. Sustainability is becoming a focal point, as demand rises for energy-efficient and eco-friendly roofing materials. This trend reflects a broader shift towards greener building practices and technologies. As climate concerns grow, the sector's innovation is poised to revolutionize standard approaches, leading to more sophisticated, resilient roofing solutions.


The list highlights 15 key investors in the Benelux roofing sector. With venture capitalists and private equity firms headquartered in cities like Amsterdam, Luxembourg, and Brussels, these investors range in size and age. On average, firms like InnoEnergy and CVC Capital Partners have made multiple investments in 2024, showcasing their active role in supporting sustainable roofing solutions. Whether they are seasoned entities like AkzoNobel or emerging players such as No Such Ventures, each investor contributes uniquely to the industry’s growth trajectory.


Top 15 Roofing Investors in Benelux


1. 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 engaged in several significant transactions, including the acquisition of Permasteelisa España, a subsidiary involved in construction, which aligns with the roofing industry. They also acquired GDL Anläggning & Miljö AB, which, while not directly related to roofing, indicates their broader interest in the construction and services sector. Their strategy focuses on strategic investments and turnaround management, positioning them as a potential investor in roofing-related companies.


2. InnoEnergy

  • Website: innoenergy.com
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 52
  • LinkedIn: innoenergy

EIT InnoEnergy is a not-for-profit organization founded in 2010, based in Eindhoven, North Brabant, Netherlands, dedicated to accelerating sustainable energy innovations. It serves as a marketplace for energy solutions, offering training programs and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to tackle challenges related to energy transition and sustainability. Notably, InnoEnergy has participated in funding rounds for companies like SunRoof, which focuses on integrating solar technology into roofing solutions, raising over $5.3 million in seed rounds in 2020 and 2021. Additionally, InnoEnergy has invested in Woon Duurzaam, a company that promotes sustainable building practices, further emphasizing its commitment to innovations that can impact the roofing industry. These transactions highlight InnoEnergy's active role in supporting ventures that align with sustainable roofing solutions.


3. Recticel

  • Website: recticel.com
  • Type: Corporate
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1778
  • Headcount: 1001-5000
  • LinkedIn: recticelgroup

Recticel is a corporate investor based in Brussels, Belgium, founded in 1778. The company specializes in manufacturing insulation and acoustic solutions, providing products such as insulation boards and panels that cater to the construction industry. In recent years, Recticel has made significant acquisitions to strengthen its position in the insulation market, particularly relevant to roofing. Notable transactions include the acquisition of Trimo d.o.o. for EUR 164.3 million, aimed at expanding their insulation activities, and the acquisition of REX PANELS & PROFILES SA for EUR 70 million, which focuses on insulated panels in Western Europe. Additionally, they signed a preliminary agreement to acquire Gór-Stal’s polyisocyanurate insulation business for €30 million, further enhancing their presence in the thermal insulation markets of Central and Eastern Europe. These strategic moves highlight Recticel's commitment to providing innovative insulation solutions that are crucial for energy-efficient roofing applications.


4. 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 based in Luxembourg, founded in 1998, specializing in investments in global B2B companies. With €22 billion in assets under management, Astorg provides capital, strategic guidance, and governance to management teams across various sectors, including healthcare, technology, and business services. Notably, Astorg has made significant investments in the roofing industry, including the acquisition of Onduline, a leading global manufacturer of roofing materials, in 2006 for an enterprise value of EUR 210 million. They also acquired IPCOM in 2022, further emphasizing their commitment to the roofing sector. These transactions highlight Astorg's strategic focus on creating long-term value through partnerships with entrepreneurs in the roofing and related industries.


5. 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. It 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 a diverse range of industries. Notably, Cobepa has made significant investments in the residential services sector, including the acquisition of Ned Stevens, a prominent provider of exterior residential services, which encompasses roofing. This acquisition, completed in November 2022, highlights Cobepa's active role in the roofing industry. Additionally, they partnered with The Jordan Company in the acquisition of Heartland Home Services, further indicating their engagement in sectors related to home services, which often include roofing solutions. Their investment strategy reflects a commitment to supporting companies that provide essential services to homeowners, including roofing.


6. 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 based 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 the construction industry, which encompasses roofing applications. Notable transactions include the acquisition of Flexcrete Technologies in 2017, which specializes in advanced cementitious materials that could be relevant for roofing applications, and the acquisition of Grupo Orbis in 2022, which includes various businesses that may also serve the construction sector. Additionally, their acquisition of The Flood Company in 2006, a leader in wood-care products, indicates their broader interest in protective coatings, which can be applicable to roofing materials. With a strong focus on sustainability and innovation, AkzoNobel is positioned to contribute to advancements in roofing solutions.


7. Waterland Private Equity


Waterland Private Equity Investments B.V. is a private equity firm based in Bussum, North Holland, Netherlands, founded in 1999. The firm specializes in growth equity investments and partners with ambitious entrepreneurs and management teams to support their growth strategies through strategic planning and operational assistance. Waterland focuses on various sectors, including healthcare and sustainability, and operates across Europe. Recently, they acquired Elk groep, a construction and renovation company, which highlights their engagement in the construction sector. This acquisition, announced on February 22, 2023, demonstrates Waterland's interest in companies that may have roofing operations or services. Additionally, their investment strategy includes supporting companies that align with sustainability, which is increasingly relevant in the roofing industry as eco-friendly materials and practices gain traction.


8. Soudal

  • Website: soudalgroup.com
  • Type: Corporate
  • Headquarters: Turnhout, Flanders, Belgium
  • Founded year: 1966
  • Headcount: 1001-5000
  • LinkedIn: soudal

Soudal Group, founded in 1966 and based in Turnhout, Flanders, Belgium, is a corporate investor specializing in the manufacturing of sealants, adhesives, and polyurethane foams. With a workforce of 1001-5000 employees, Soudal serves a diverse customer base in the construction and industrial sectors, focusing on innovative solutions tailored to their needs. Notably, Soudal has made significant acquisitions to enhance its product portfolio in the roofing and construction sectors. In February 2023, they acquired Tramico, a French market leader in waterproof joint sealing and noise insulation, which is crucial for roofing applications. Additionally, their acquisition of Al Muqarram Insulation Material Industry LLC in October 2020 marked a strategic investment in the Middle East construction market, further aligning with their growth ambitions in roofing and insulation materials. These transactions underscore Soudal's commitment to expanding its influence in the roofing industry.


9. ROM InWest

  • Website: rominwest.nl
  • Type: Corporate
  • Headquarters: Haarlem, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: rom-inwest

ROM InWest is a corporate investor based in Haarlem, North Holland, founded in 2021. They are a consulting agency that supports innovative entrepreneurs by providing advisory services and financial investments, particularly focusing on startups, scale-ups, and SMEs that contribute to significant societal transitions, such as energy and food sustainability. In 2023, they invested €900K in Solarix, a startup that designs and supplies coloured solar panels for facades, indicating their involvement in the construction sector and interest in sustainable building solutions. Additionally, they participated in funding rounds for Woon Duurzaam, a company focused on sustainable living solutions, further showcasing their commitment to impactful entrepreneurship in sectors that may intersect with roofing and construction.


10. 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 private equity firm based in Luxembourg, founded in 2005. It specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has made significant investments in companies relevant to the construction and roofing sectors, such as the acquisition of Paroc Group, a leading producer of stone wool insulation, which is essential for roofing applications. Additionally, their acquisition of Armacell, known for its insulation products, further demonstrates their engagement in the materials sector that supports roofing. CVC's strategic investments aim to deliver sustainable value and growth, making them a noteworthy player in the roofing investment landscape.


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 involved in significant transactions such as the acquisition of Stankiewicz GmbH in 2006, which, while not directly related to roofing, showcases their investment capabilities. More relevantly, in 2018, Gilde acquired Esdec BV, a company that specializes in solar panel mounting systems, which are closely associated with roofing applications. This strategic investment highlights Gilde's interest in sectors that intersect with roofing, particularly in the context of sustainable energy solutions.


12. Ergon Capital


Ergon Capital is a private equity firm based in Brussels, Belgium, founded in 2005. The firm specializes in investment management and sustainability consulting, partnering with families, entrepreneurs, and management teams to enhance the value of their businesses while promoting ESG initiatives. One of their notable transactions includes the acquisition of Joris Ide Group in January 2007, a company that specializes in roofing and building materials. This acquisition highlights Ergon Capital's involvement in the roofing sector, showcasing their commitment to investing in companies that align with their strategic goals and sustainability efforts. Through their investments, Ergon Capital aims to provide strategic support to portfolio companies while engaging in philanthropic efforts to foster positive societal impact.


13. Aliaxis

  • Website: aliaxis.com
  • Type: Corporate
  • Headquarters: Belgium
  • Founded year: 2003
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: aliaxis

Aliaxis is a corporate investor based in Belgium, specializing in construction solutions with a focus on innovative water and energy management systems. Founded in 2003, the company has grown to employ over 10,000 people and has made significant investments in the construction sector. Notably, Aliaxis has been involved in several key transactions that enhance its position in the roofing and construction markets. For instance, their acquisition of IPEX, which includes manufacturing assets for CPVC pipe and fittings, is particularly relevant as these products are used in residential and light commercial roofing applications. Additionally, their full ownership of Ashirvad Pipes Pvt Ltd, a major player in the pipe manufacturing sector, further strengthens their portfolio in construction materials. These strategic acquisitions demonstrate Aliaxis's commitment to expanding its offerings in the construction industry, including roofing solutions.


14. ArcelorMittal Luxembourg


ArcelorMittal Luxembourg is a corporate investor and a leading steel manufacturer founded in 1911, based in Luxembourg. The company produces a wide range of steel products tailored for construction and infrastructure projects, emphasizing sustainability and low emissions. In 2022, ArcelorMittal, through its subsidiary ArcelorMittal Construction, acquired Architectural Steel Ltd, a Manchester-based manufacturer. This acquisition aims to enhance their metal building envelope offerings in the UK market, which is directly relevant to roofing applications. By expanding their local production capabilities, ArcelorMittal is positioning itself to better serve the construction sector, including roofing solutions, thereby reinforcing its commitment to innovation and quality in the industry.


15. No Such Ventures

  • Website: nosuchventures.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: nosuchventures

No Such Ventures is a venture capital firm based in Amsterdam, North Holland, founded in 2018. The firm specializes in investing in revenue-generating companies that are looking to scale, providing both financial support and strategic guidance to entrepreneurs. They operate with a flexible investment model and focus on various sectors, making them a valuable partner for businesses aiming to enhance their market presence. Notably, No Such Ventures has participated in funding rounds for Exasun, a company that raised €9 million to build a new PV assembly line and scale internationally, as well as an earlier Series A round. Exasun's focus on solar energy solutions ties into the roofing industry, particularly in the context of integrating solar technology into roofing systems, highlighting No Such Ventures' potential relevance to the sector.



Roofing Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
RecticelBrussels, Brussels, Belgium1001-500017780
AstorgLuxembourg51-20019988
CobepaBrussels, Brussels, Belgium11-5019572
AkzoNobelAmsterdam, North Holland, Netherlands10001+17920
Waterland Private EquityBussum, North Holland, Netherlands201-50019997
SoudalTurnhout, Flanders, Belgium1001-500019660
ROM InWestHaarlem, North Holland, Netherlands11-5020214
CvcLuxembourg1001-5000200516
Gilde Buy Out PartnersUtrecht, Utrecht, Netherlands11-5019820
Ergon CapitalBrussels, Brussels, Belgium11-5020050
AliaxisBelgium10001+20033
ArcelorMittal LuxembourgLuxembourg1001-500019111
No Such VenturesAmsterdam, North Holland, Netherlands1-1020183


Want to find more investors focusing on the roofing industry?

If you want to find more investors that are active in the roofingindustry, you can do that with Inven. We built this list and analysis throughInven's Investor Search, and there are a lot more private equity, venturecapital, and corporate investors like these globally.

With Inven, you'll also get to know:

  • Deal History: Number of deals and their sizes.
  • Portfolio: Companies they've invested in.
  • Contact data: Key dealmakers, including their emails and phonenumbers.
  • ...and much more!