The sports equipment industry in Benelux is thriving, encompassing a variety of businesses that range from bicycles to specialized athletic gear. Companies operate in sectors like cycling, fitness, and outdoor sports, focusing on innovation and sustainability. Recent trends feature a growing demand for eco-friendly products, driven by consumers seeking healthier lifestyles. This region also benefits from a strategic geographic location, enhancing export opportunities across Europe. With collaborations between technology and sports, like smart wearable devices, the industry is likely to see considerable advancements. As participation in sports continues to rise, the market will expand, presenting opportunities for investors and startups alike.

The list of investors in the Benelux sports equipment landscape showcases a mix of corporate giants and agile venture capital firms. Hailing from various backgrounds, these investors range in size from small firms to large entities, with headquarters in key cities like Amsterdam, Brussels, and Luxembourg. Established between 1957 and 2017, their 2024 deals indicate an active interest in fueling innovation within the sector, with 99 reported investments alone from one of the top corporate players. This blend of investors brings both financial support and expertise to emerging and established companies in the market.

Top 19 Sports Equipment Investors in Benelux

1. 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. Notably, CVC has made significant investments in the sports sector, including the acquisition of OXBOW, a brand known for its sports apparel and equipment. They have also raised substantial funds for Six Nations Rugby ($508 million) and Premiership Rugby ($252 million), showcasing their commitment to enhancing the sports industry. Additionally, their investment in Bruin Sports Capital, which focuses on sports and entertainment, further emphasizes their active role in the sports landscape.

2. European Investment Bank (EIB)

• Website: eib.org
• Type: Corporate
• Headquarters: Luxembourg
• Founded year: 1958
• Headcount: 1001-5000
• Number of deals in 2024: 99
• LinkedIn: european-investment-bank

The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. The EIB's clientele includes both public and private organizations seeking funding for initiatives that promote growth and job creation. Notably, the EIB has been involved in several transactions relevant to the sports equipment industry, such as a debt financing round for EGYM, which raised approximately $29.4 million to enhance its fitness technology offerings. Additionally, the EIB provided €12 million in loans to Fazua for the development of its e-Bike components, further demonstrating its engagement in the sports equipment sector. Other transactions include support for companies like Ottobock and Blubrake, which, while not exclusively focused on sports equipment, contribute to the broader landscape of health and fitness technology.

3. Pon

• Website: pon.com
• Type: Corporate
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 1867
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: pon

Pon Holdings BV is a family-owned multinational company based in Amsterdam, Netherlands, founded in 1867. The company operates primarily in the transportation and agricultural sectors, with a strong emphasis on sustainable mobility solutions. Pon is a major manufacturer and distributor of bicycles, including electric models, and offers bike leasing services to both individual consumers and businesses. In recent years, Pon has made significant strides in the sports equipment industry through strategic acquisitions. Notably, they acquired the bike division of Dorel Industries for $810 million, positioning themselves as the largest bike company globally with an annual revenue of approximately $2.5 billion. Other key acquisitions include Cervélo Cycles, Santa Cruz Bicycles, and Veloretti, which enhance their portfolio in the cycling market. Additionally, their offer to acquire Accell, which includes brands like Batavus and Sparta, further solidifies their status as a leading player in the bicycle manufacturing sector. These transactions highlight Pon's commitment to expanding its influence in the sports equipment domain, particularly in cycling.

4. dsm-firmenich

• Website: dsm-firmenich.com
• Type: Venture Capital
• Headquarters: Maastricht, Limburg, Netherlands
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: dsmfirmenich

dsm-firmenich is a for-profit company based in Maastricht, Limburg, Netherlands, operating primarily in the nutrition, health, and beauty sectors. The company offers a diverse range of products, including fragrances, nutritional supplements, and active pharmaceutical ingredients, serving various industries with innovative solutions aimed at enhancing product offerings and addressing sustainability challenges. As an investor, dsm-firmenich has participated in several notable transactions relevant to the sports equipment context. For instance, it led a $6.5 million Series A investment in Momentous, a company focused on human performance, which aims to support the launch of new products and technology developments in the athletic space. Additionally, dsm-firmenich co-led a nearly $23 million Series A round for Miach Orthopaedics, which is involved in developing medical devices that can aid athletes in recovery and performance. These investments highlight dsm-firmenich's engagement in sectors that support athletic performance and health, aligning with the interests of sports equipment investors.

5. Exor N.V.

• Website: exor.com
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 2009
• Headcount: 11-50
• Number of deals in 2024: 26
• LinkedIn: exor_2

Exor N.V. is a holding company based in Amsterdam, Netherlands, founded in 2009. It operates across various sectors, including automotive, healthcare, and media, and manages a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Exor focuses on enhancing value through strategic investments and operational support. Notably, Exor has made significant investments in the sports sector, including a recent funding of €200 million to Juventus Football Club S.p.A., which highlights its engagement in the sports industry. Additionally, Exor has invested in companies like CARIUMA and Fiit, which, while not exclusively sports equipment, contribute to the lifestyle and fitness sectors, further indicating its interest in the broader sports ecosystem.

6. Lrm

• Website: lrm.be
• Type: Venture Capital
• Headquarters: Hasselt, Flanders, Belgium
• Founded year: 1994
• Headcount: 51-200
• Number of deals in 2024: 1
• LinkedIn: lrmnv

LRM is an investment company based in Hasselt, Flanders, Belgium, founded in 1994. It focuses on sustainable economic growth in Limburg, Belgium, providing financing and expertise to startups, scale-ups, and mature companies to facilitate their development and innovation. LRM has been involved in various sectors, including real estate development and the reconversion of old mining sites. In the sports equipment context, LRM has made notable investments such as in Ridley Bikes, which raised funds in 2014, and Classified Cycling, which secured $2,358,741 in a seed round in 2020. Additionally, they invested in Raw Stadia, a sports tech company that raised $1.63M in 2023, further showcasing their commitment to the sports industry.

7. Samsonite

• Website: samsonite.com
• Type: Corporate
• Headquarters: Oudenaarde, Flanders, Belgium
• Founded year: 1910
• Headcount: 1001-5000
• LinkedIn: samsonite

Samsonite International S.A. is a corporate investor based in Oudenaarde, Flanders, Belgium, specializing in high-quality travel bags and accessories. Founded in 1910, the company has established itself as a leader in the luggage manufacturing and retail industry. In recent years, Samsonite has strategically diversified its brand portfolio through several key acquisitions. Notably, in 2014, Samsonite acquired Gregory Mountain Products, a brand known for its outdoor gear, for $85 million, enhancing its presence in the outdoor market. Additionally, in 2012, it acquired High Sierra Sport Company for $110 million, marking its entry into the casual bag market with a focus on sports and outdoor activities. These transactions reflect Samsonite's commitment to expanding its influence beyond traditional luggage into the sports equipment sector, particularly in outdoor and casual sports gear.

8. 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 made significant investments in the sports equipment sector, including a €1.3 million Seed investment in Aska Bike, an e-bike startup, which aims to realize ambitious growth plans. Additionally, PMV participated in a funding round for Ellio, a speedpedelec manufacturer, contributing to their international expansion efforts. These transactions highlight PMV's active role in supporting the growth of companies within the sports equipment industry.

9. 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, including healthcare and industrial sectors. Notably, Cobepa has made significant investments in the sports-related field, such as its growth equity investment in Precision Orthopedics & Sports Medicine, a leading provider of integrated orthopedic surgical care services. This investment aims to bolster operations and implement expansion plans, highlighting Cobepa's commitment to the sports sector. Additionally, Cobepa has been involved in various other transactions, including the acquisition of Gerflor Group and Vegro, although these are less directly related to sports equipment. Overall, Cobepa's strategic investments indicate a potential interest in supporting businesses that contribute to the sports equipment and sports medicine industries.

10. Verlinvest

• Website: verlinvest.com
• Type: Venture Capital
• Headquarters: Brussels, Brussels, Belgium
• Founded year: 1995
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn: verlinvest

Verlinvest is a venture capital investment firm based in Brussels, Belgium, founded in 1995. The firm specializes in high-growth consumer brands across various sectors, including food, beverage, health, and technology. They provide long-term capital and strategic advisory services to help brands scale and innovate. Notably, Verlinvest has made significant investments in the sports and fitness sector, including a recent acquisition of a substantial stake in The Climbing Hangar, a prominent UK bouldering gym operator, aimed at accelerating its growth and expanding operations. This investment highlights their interest in the sports equipment industry, alongside their diverse portfolio that prioritizes consumer needs and sustainable practices.

11. Noshaq

• Website: noshaq.be
• Type: Venture Capital
• Headquarters: Belgium
• Founded year: 1985
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn: noshaq-be

Noshaq is a venture capital investment fund based in Belgium, founded in 1985. The firm focuses on providing financial solutions and strategic support to small and medium-sized enterprises (SMEs) in the province of Liege. Noshaq specializes in funding, project structuring, and business development, particularly in sectors such as biotech and sustainable development. Recently, they have made significant investments in the sports tech industry, including a seed round for MYOCENE, a Belgian-based sportstech company, which raised $3,221,625 in June 2024. They also participated in a bridge round for MYOCENE, contributing to a total of €2M raised to prepare for a market launch. Additionally, Noshaq invested in Raw Stadia, a sports tech company that raised $1.63M to expand into the US market, focusing on the NFL. These transactions highlight Noshaq's commitment to fostering growth and innovation in the sports equipment sector.

12. Slingshot Ventures

• Website: slingshot.ventures
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 2017
• Headcount: 1-10
• LinkedIn: slingshotventures

Slingshot Ventures is a venture capital firm based in Amsterdam, North Holland, founded in 2017. The firm specializes in investing in early-stage digital consumer businesses, providing not only financial support but also strategic guidance in areas such as branding, talent acquisition, and financial management. Their focus is on strong brands with satisfied customers and healthy profit margins, primarily operating in Western Europe. Notably, Slingshot Ventures has made significant investments in companies like UNIT 1, a smart bike accessory start-up, which raised $3.5M in a Series A round led by Slingshot Ventures in April 2023. This investment highlights their engagement in the sports equipment sector. Additionally, they were involved in the Series A funding of VanMoof, a company known for its innovative bicycles, further emphasizing their interest in the cycling and sports equipment market.

13. Waterland Private Equity

• Website: waterlandpe.com
• Type: Private Equity
• Headquarters: Bussum, North Holland, Netherlands
• Founded year: 1999
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn: 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. Notably, Waterland has made significant strides in the fitness and health sector, acquiring LifeFit Group, a German health and fitness platform, which is expected to enhance its portfolio in the sports-related domain. Additionally, LifeFit Group's acquisition of FIT/One Group further emphasizes Waterland's commitment to expanding its influence in the fitness industry, potentially linking it to sports equipment investments.

14. LeanSquare

• Website: leansquare.be
• Type: Venture Capital
• Headquarters: Belgium
• Founded year: 2014
• Headcount: 1-10
• Number of deals in 2024: 3
• LinkedIn: leansquare

LeanSquare is a venture capital investment fund based in Belgium, founded in 2014. The firm specializes in supporting innovative projects across various sectors, including the Cultural and Creative Industries, Enterprise Software, and Life Sciences. LeanSquare provides financial investment, expertise, and networking opportunities to mature startups seeking growth. Notably, LeanSquare has made significant investments in the sports tech industry, including a recent investment in Raw Stadia, which raised $1.63M to expand into the US market focusing on the NFL. Additionally, they participated in a seed funding round for CityLegends, which received close to €1 million to enhance its marketing efforts and user base in Western Europe and the US. These transactions highlight LeanSquare's commitment to fostering innovation in the sports equipment sector.

15. LUMO Labs

• Website: lumolabs.io
• Type: Venture Capital
• Headquarters: Eindhoven, North Brabant, Netherlands
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn: lumo-labs

LUMO Labs is a venture capital firm based in Eindhoven, North Brabant, Netherlands, founded in 2016. The firm specializes in impact-driven investments in emerging technologies, focusing on areas such as AI and Blockchain. LUMO Labs provides funding and tailored support programs to early-stage startups that address social and environmental challenges. Among their notable transactions, they participated in a seed funding round for CityLegends, which received close to €1 million from a syndicate of investors, including LUMO Labs. This funding is aimed at expanding CityLegends' marketing efforts and user base in the sports tech sector, particularly in Western Europe and the U.S. West Coast. This involvement highlights LUMO Labs' interest in the sports equipment industry, despite their broader focus on technology-driven startups.

16. Ten Cate Protect B.V.

• Website: tencate.com
• Type: Corporate
• Headquarters: Almelo, Overijssel, Netherlands
• Founded year: 1704
• Headcount: 201-500
• Number of deals in 2024: 2
• LinkedIn: ten-cate-protect-b.v.

Ten Cate Protect B.V., part of Royal TenCate, is a corporate investor based in Almelo, Overijssel, Netherlands, specializing in protective fabrics and outdoor textiles. Founded in 1704, the company has a long history of innovation and quality in textile manufacturing. In 2024, TenCate Grass, a division of Royal TenCate, made notable acquisitions in the sports sector, including a majority stake in The LandTek Group, a company focused on sports facility construction, and Byrom-Davey, Inc., a prominent sports facility builder in Southern California. Additionally, TenCate has previously acquired Mattex Leisure Industries, an artificial grass fiber manufacturer, further solidifying its commitment to the sports equipment industry. These transactions highlight Ten Cate Protect B.V.'s strategic focus on enhancing its presence in the sports sector, making it a relevant player in the sports equipment investment landscape.

17. BNP Paribas Fortis

• Website: bnpparibasfortis.com
• Type: Corporate
• Headquarters: Brussels, Brussels, Belgium
• Founded year: 2008
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: bnpparibasfortis

BNP Paribas Fortis is a banking and financial services provider based in Brussels, Belgium, founded in 2008. The firm offers a wide range of services including personal banking, corporate banking, investment management, and financial advisory. They serve individuals, businesses, and organizations, helping them manage their finances and investments effectively. Notably, BNP Paribas Fortis was involved in a significant transaction with Castore, a British sportswear brand, where they participated in a £50 million funding round alongside HSBC and Silicon Valley Bank. This investment, structured as a debt facility, highlights their engagement in the sports equipment sector, as Castore aims to expand and compete with larger industry players. This transaction reflects BNP Paribas Fortis's capability and willingness to invest in the sports equipment industry, making them a relevant player in this space.

18. ABN AMRO Bank N.V.

• Website: abnamro.nl
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, Netherlands
• Founded year: 1991
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: abn-amro

ABN AMRO Bank N.V. is a financial services institution based in Amsterdam, Netherlands, founded in 1991. It offers a wide range of banking products, including personal accounts, loans, mortgages, investment management, and insurance, catering to both individual consumers and businesses. Notably, ABN AMRO has been involved in significant acquisitions in the sports equipment sector, such as the acquisition of STIGA S.p.A. in 2003, a company known for its table tennis equipment, and TylöHelo in 2006, which specializes in sauna and wellness products. These transactions highlight their engagement in the sports and wellness industries, although they also participate in diverse sectors, including technology and sustainability, as seen in their investments in Fairphone and Colibri Energy.

19. The CoFoundry

• Website: thecofoundry.co
• Type: Corporate
• Headquarters: Antwerp, Flanders, Belgium
• Founded year: 2015
• Headcount: 1-10
• LinkedIn: 10085265

The CoFoundry is a startup incubator and investment firm based in Antwerp, Flanders, Belgium, founded in 2015. It focuses on funding and supporting entrepreneurs in building sustainable businesses by providing tailored coaching and access to a rich ecosystem of partners. Among its notable transactions, The CoFoundry participated in the seed round for Onak Canoes, which specializes in innovative canoe designs, indicating its involvement in the sports equipment sector. Additionally, it invested in Small Teaser, a company that raised funds for R&D and marketing, although this transaction is less directly related to sports equipment. Overall, The CoFoundry aims to help startups navigate growth challenges while showing a willingness to invest in the sports equipment industry through its support of Onak Canoes.

Sports Equipment Insights: Key Investors in Benelux

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