References

The following are examples of interventions by Deminor in non-listed companies, mostly family businesses or in listed companies.

What our customers say

Tom Gheysens

Founder Audioprof Group International

As soon as your company enters a sales process led the majority shareholder, you, as a minority shareholder, have an interest in your own advisor who will relieve you of your potential concerns. Applying external advisors is a sensitive issue, but that sensitivity disappeared as soon as I was able to bring confidence and professionalism with the renowned Deminor brand. Their way of working is humane, open-minded, tailor-made, and at the same time, at your request, they guard the process from the sidelines without disrupting the process. The Deminor team was able to assess everyone's interests in order to achieve the best possible result. Top!

Jean-Marie Thibaut

Chief Financial Officer MAINSYS Group

In recent years, the MAINSYS group has been growing a lot and went through significant changes, which required the governance structure to be updated and entering into partnerships with various players in our sector.
Deminor has supported us in these developments and has always been a reliable partner that meets our expectations and whose expertise represents a real added value for the development of our group.

Hubert Fabri

Chairman Socfin, Socfinaf and Socfinasia

We turned to Deminor as part of a reflection on our group’s structure and governance.
Deminor gave us relevant guidelines, provided the holding companies with a corporate governance charter and carried out its mission with professionalism and commitment.

Jean Galler

Jean Galler

Winegrower-chocolate maker- founder of Galler Chocolatiers

Deminor helped me to negotiate the best possible conditions for leaving the group of which I was the CEO, founder and minority shareholder. I particularly appreciated their expertise in defending minority interests, both legally and financially, and also their availability and responsiveness at all stages of this long process.

André Emsens

Manager Château d’Emptinne

For a start-up investment project , I asked Deminor to help me make an informed decision and help me negotiate the best conditions. Deminor assisted me more specifically on the financial aspects of the planned transaction (financial modelling - risk analysis - valuation of the company). I particularly appreciated the quality of the work done and their reactivity in responding to my requests.

Pierre-Yves de Laminne de Bex

President

The Compagnie du Bois Sauvage has mandated Deminor to carry out a Board Assessment.
Deminor carried out its mission in detail and based on individual interviews, which contributed to a better definition of our objectives and governance.

Bart De Smet

CEO

At Deminor, we have always found a team defending the interests of their clients hard, and negotiating a solution in the interests of the company and all its stakeholders. The agreement we have reached is the most important agreement ever signed between shareholders and a company in Europe.

Louis Machiels

Managing Director

Machiels Group is a 100% family business with investments in environment, renewable energy and real estate, as well as participation in numerous joint ventures.
We experienced Deminor's expertise in defending the interests of minority shareholders. Deminor also provided us professional support in the set up and implementation of Corporate Governance. We have found out that corporate governance and in-depth monitoring of business strategy are part of Deminor's DNA.
We enjoyed our collaboration with Deminor as a 'Partnership'.

Marcel Eeckhout

Businessman, investor and founder of MCS Solutions

As a businessman, I often search assistance from external advisors. I take due care when I select an external advisor, and so I did when I decided to work with Deminor regarding my shareholder position. I needed a partner who had not only the required knowledge and experience, but who also had the right attitude and offered a problem solving approach. Deminor was indeed the right partner, it was a constructive and pleasant collaboration.

Yves Trouveroy

Partner E-Capital

E-Capital is an active and engaged investor. When we are confronted with governance or shareholders’ position issues in companies wherein we invested, Deminor can help us with an independent and critical expert opinion, based on more than 20 years of experience.

Koen Dejonckheere

CEO GIMV

GIMV is a listed investor granting ambitious growth capital to companies located in Belgium and neighbouring countries. We value Deminor as an important business partner and stakeholder. When equity needs, management, entrepreneurs, international growth and/or innovation need to be aligned, a better and more professional governance becomes crucial in our path as institutional shareholder. For GIMV, Deminor is a respected best practice opinion-leader and can help us as a direct or indirect sounding board.

Paul Borghgraef

Chairman of the Board of Directors

Shareholder value and the protection of shareholders are at the centre of Retail Estates’ attention. When we call upon Deminor, we not only benefit from a very professional advice but we also value Deminor as a particularly critical and independent sounding board.

Ilse Bens, Peter Bens, Teun Van Hulsen

Board Members

Deminor works swift and thorough both in legal and financial matters, and helped us to resolve outstanding shareholders issues. The Deminor team as a sounding board enabled us to make the right decisions within the family group. We can always rely on them to professionally and objectively prepare and attend the family meetings.

Olivier Beghin

CEO Isohemp

Deminor proved to be an important counsellor in realising a partnership with a new investor: assisting in the negotiations, drafting the investment agreements and other legal documents, …
I appreciated particularly their availability, flexibility and professionalism to complete this new phase of our business in a fast and efficient way.

Jacques Beherman

CEO Beherman Europe

Deminor assisted the company and the Beherman family in the set-up of a new governance structure. The shareholders agreement prepared by Deminor is since then in place and improved the way our family business works and avoids the usual problems that might occur when there is a transmission to a new generation.

Sophie Le Clercq

Chairman of the Board of Directors

With the assistance of Deminor we adapted our governance and structures in line with the increasing size of our business and our ambitions. Deminor’s intervention in this process has reassured the family and helped us to keep the company in family hands.

Bernard Helson

CEO Maison Dandoy

Deminor has played an important role in the decisions of the family concerning the changes to the organization chart, the structures and governance of the group, enabling the seventh generation within the family to take the lead in the future strategy of our business.

The Deminor cases

Cases 2022

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Protection of interests at the annual general meeting

Minority shareholder in holding company

Assistance board of directors

Company in real estate

Assistance in developing a settlement agreement

Co-founder of a technology scale-up

Assistance with the exit of a shareholder

Company in the transportation industry

Assistance fund entry

Family shareholder

Sale of a company

Construction company

Deminor negociated, together with management en board, the sales of 100% of the shares of Imperbel Derbigum SA to the Irish listed group Kingspan plc.

Advice on shareholder and director rights

Company in private transport

Advice on cooperative rights

Agricultural cooperative

Advice to a board member

Project development company

Equity dashboard and cash flow dashboard

Family wealth

Shareholder conflict strategy

Company in logistics

Shareholder conflict strategy

Real estate rental company

Strategic advice on participation

Company in accountancy

Assistance to a family branch within the framework of a general assembly

Food company

Mediation support

Family holding

Assistance in making a business plan

Marketing company

Investment analysis

Holding

Tax advice on structuring

Holding

Assistance board of directors

Company in artifical intelligence

Advice to a shareholder and assistance board of directors

Gardening company

Assistance in the general meeting of a listed company

Family holding

Assistance board of directors

Company in accountancy

Strategic advice to a board member

Food company

Assistance in selling

Company in leisure activities

Mediation between shareholders

Company in leisure activities

Mediation between shareholders of a joint venture

Startup in the mobility sector

Assistance in a conflict between shareholders

Company in artificial intelligence

Strategic advice to directors

Real estate rental company

Advice to a shareholder on capital increase

Company in metric data analysis

Negociation of a settlement in the context of a conflict between family shareholders

Company active in the real estate sector

Mediation between two 50% shareholders

Company under Luxembourg law, active in mobility

Assistance within the framework of a shareholders' conflict and the division of the family assets

Company active in the real estate sector

Formalisation of a loan agreement in case of a shareholder buy-out

Company active in industrial maintenance and construction

Representation of shareholders at general meeting

Basketball Club

Negociation of the sale of a minority participation

SME with a social purpose, expert in data analysis

Legal and financial support for the sale of company

Scaleup (SAAS) active in the HR sector

Drafting of a valuation report in the context of a shareholders’ conflict

Group active in food products and restaurant operations

Assistance of a shareholder through the split-up of the company

Asset management company with a real estate portfolio

Cases 2021

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Acquisition trade activity

Gardening company

Negotiation of a fundraising and drafting of a shareholders agreement

Indoor cycling start-up

Negotiation of a fundraising and drafting of a shareholders agreement

Fintech company

Family business active in the sale of professional work and protection equipment

Guidance of individual and collective discussions in the context of drawing up a family charter

Strength-weakness analysis of the position of a founder-minority shareholder

Co-founder of a technology scale-up

Strength-weakness analysis of the position of a researcher/founder

Tech project developed within a university

Negotiation of a fundraising and drafting of a shareholders agreement

Leisure and sport startup

Advice on holding structure

Founders of a company active in renewable energy

Review of investment contracts

Investor in a company active in the energy sector

Fairness opinion

Professional hardware store

Advice on termination of function

CEO of a company active in renewable energy

Advice on supplier cooperation contracts

Industrial construction company

Drafting of a shareholders' agreement

Company active in the e-commerce sector

Negotiation of a fundraising and drafting of a shareholders agreement

Media and marketing startup

Advice on shareholder loans

Company active in firefighting and security

Negotiating the sale of a stake in the context of a family conflict

Company active in the sale of construction materials

Assistance in the context of a shareholder conflict and the division of family assets

Company active in real estate

Drafting of a financial dashboard

Family investment fund

Assistance in the transfer of activa to a foundation

Non-profit organisation

Guidance on investment strategy after a company sale

Seller of a company

Assistance, valuation and negotiation of the exit of a shareholder

Insurance company

Analysis of board and management operations and governance standards

Investment company in the shipping industry

Negotiation of a fundraising and drafting of a shareholders agreement

Offsite construction scaleup

Company valuation

Asset management company with a real estate portfolio

Drafting of a business plan

Service provider real estate

Guidance of the general meeting

Company active in fund management

Strategic advice to a shareholder and director

Company active in food industry

Guidance on sale and roll-over

Company active in industrial construction

Financial audit and negotiation of an exit

Company active in lifestyle

Federation of shareholders to maintain the listing of a company that was the subject of a takeover bid

Orange Belgium

Assistance in the context of a shareholders’ conflict and drafting of a settlement agreement

Company active in the textile sector

Negotiation of the exit of a shareholder

Company active in the logistics sector

Advice on buy-out of a shareholder

Company in food sector

Advice in the context of a shareholding management and an amendment of the articles of association

Company active in the hydraulic sector

Guidance of a joint venture

Company in biotechnology

Strategic guidance of shareholders and directors

Company in food sector

Advice shareholder in capital increase

Software development company

Family conflict counselling and mediation

Industrial enterprise in safety

Buy-out of a minority shareholder

Company active in wood processing

Sale of a technology company

Digital platform

Drafting of a business plan

Company in contracting

Draft of a code of conduct and a compliance charter

Company active in consultancy and the sale of pump applications

Benchmark for board members’ and top managers’ remuneration

Industrial company listed on Euronext Growth

Strategic advice on conflict resolution

Software development company

Advice on corporate law frameworks and strategy regarding shareholders resolutions

Environmental NGO

Cases 2020

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Draft of a shareholders’ agreement

Company active in marketing consulting

Preparation of an action plan with strategic and corporate governance recommendations

Family group

Negotiation of a fundraising and drafting of a shareholders’ agreement

Startup active in tool management

Drafting of a family charter

Family group

Transmission of real estate

Family-owned real estate company

Negotiation of the exit of a shareholder

Company selling gardening equipment

Company valuation

Company active in the production of sealing materials

Company valuation

Company active in real estate management

Assistance regarding entry into private equity

Company in software development

Negotiation of an exit

Company in digital marketing

Assistance with the transition to the next generation

Company in the medical sector

Analysis of a minority shareholder position

Company in the industrial sector

Negotiation of an exit

Company in the industrial sector

Negotiation of the sale of a minority stake

Company active in pharmaceutical consultancy

Estate protection and by-laws changes

Family holding company

Support at board and shareholder meeting

Family enterprise in the automobile sector

Analysis of a minority shareholder position

Company in the care sector

Assistance to institutional shareholders in the context of an extraordinary general meeting

Company active in the biotech sector

Voting reccomendation to an institutional investor

Listed company

Negotiation and support in the context of the sale of several shareholdings

Family-owned company

Analysis of a minority shareholder position

Company in the agricultural sector

Analysis of a minority shareholding

Family hotel group

Establishing and facilitating a general meeting through an online meeting and voting tool

Company in the food sector

Draft of a cooperation agreement in the context of accession of a new partner

Insurance office

Advice and assistance to shareholders in the context of capital increase transactions

Startup active in multimedia

Assistance, valuation and negotiation of the exit of a shareholder

Real estate company

Protection of minority interests in the context of a proposition to amend the articles of association

Family owned company in the food sector

Cases 2019

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Advice and assistance in entering into a partnership

Real estate company

Shareholders mediation and governance recommandations

Family owned company in the automative sector

Assistance, valuation and negotiation of the exit of a shareholder

Family owned property management company

Succession planning

Family owned construction company

Assistance and secretary of the board for the set up of a dividend policy

Family owned real estate company

Advice to shareholders regarding an investment agreement and a shareholders agreement

IT development company

Valuation in the context of a capital restructuring

Construction materials producer

Board assessment

Luxembourg industrial group

Integration of multiple companies

Cleaning and processing activities for maritime transport

Selling proces guidance

Professional audio systems

Conciliation

Brokerage Company

Transfer of the company to the next generation

Sale and production of agricultural machines

Advice and assistance with selling equity stakes

International industrial group

Assistance to a minority shareholder at the annual shareholders' meeting

Company active in the logistics sector

Analysis of a minority shareholding

Real estate company

Advising and assisting a minority shareholder concerning a shareholder agreement proposal

Family holding

Constitution of a new company and transfer of a branch of activity

IT Company

Voting recommendations for the general assembly

French listed insurance company

Review of a shareholders’ agreement

Start-up company in social media

Mediation shareholder conflict and improvement of corporate governance

Information technology and services

Analysis of corporate and asset structure

Industriel laundry

Advice in sales process

Travel events

Quantification of damages based on a financial analysis

International trader in commodities

Set up of a sales structure in Belgium

Manufacturer of medical equipment

Drafting agreements for a new activity with associates

Industriel printing business

Analysis of a minority position in a family group and modifications of the corporate governance

International industrial group

Purchase guidance

Real estate company

Cases 2018

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Drafting agreements for the accession of a new associate

Insurance office

Draft of a family charter

Insurance office

Negotiating and drafting an agreement for a family group

Family group active in several service areas (including cleaning and industrial painting)

Valuation, financial modelling and risk analysis

Start-Up company

Dismissal CEO and sale of minority participation

Media agency

Drafting of a corporate governance charter

Listed company active in the production of raw materials

Assistance during board and shareholders meetings

Company active in the automobile distribution

Assistance to a minority shareholder at the annual shareholders' meeting

Company active in the logistics sector

Drafting corporate governance structure and shareholder agreement

Construction company

Board assessment

Listed company

Assessment of a minority stake

Company specialised in digital marketing

Advice to and assessment of a shareholder’s position

Company specialised in medical research and development

Company valuation

Company specialised in confectionary

Drafting agreements for the accession of a new associate

Accounting firm

Cases 2017

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Advice to and assistance of a minority shareholder

Company active in the audiovisual industry

Negotiation of the sale of a minority participation

Company active in the pharmaceutical distribution

Financial analysis and assessment of shareholder’s position

Company specialised in import/export of frozen food

Company valuation

Company active in car bodywork

Negotiation of the potential sale of the company

Company active in the concrete industry

Defense of minority interests in the context of a proposal to amend the statutes

Company active in the exploitation of raw materials

Defense of minority interests in a squeeze-out procedure

Company active in pharmaceutical distribution

Negotiation and guidance in the sale of a minority stake

Startup developing a web platform

Negociation and assistance by implementing a partnership

Company active in the construction sector

Sale of a minority stake

Company active in the healthsector

Negociating and drafting of a shareholder's agreement

Accounting firm

Voting recommandations for the general assembly

French listed insurance company

Negociating and drafting of a shareholder's agreement

Company active in technical and tailormade lightning solutions, foreign and domestic

Independent expert at a trial

Exit of a minority shareholder

Real-estate development group

Drafting of a shareholders’ agreement

Family-owned business active in real estate

Valuation and sale of a minority stake

Real-estate development group

Cases 2016

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Company valuation

Company active in software development and IT consulting

Sale of a minority stake

Company active in the conception of outdoor public lighting

Negotiation and assistance in terminating a partnership

Asset manager of real estate in BeLux

Representation of a minority shareholder in the corporate bodies

Producer and distributor of construction materials

Analysis of a draft shareholders' agreement

Company in touristic sector exploiting a nature reserve

Restructuring and drafting of a shareholder's agreement

Family group active in artisanal production

Acquisition of a minority interest

Enterprise active in e-commerce

Sale of a majority stake

Startup developing a web platform

Negotiation and assistance in terminating a partnership

Asset manager of real estate in BeLux

Drafting of a family charter

Group of Belgian and Luxemburg companies

Independent company valuation

Firm active in the construction and engineering sector

Voting recommandations for the general assembly

French listed insurance company

Sale of 95,85 % stake

Family owned company active in leather tannery

Sale of a 17% minority stake

Insurance Broker

Cases 2015

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Exit minority shareholders

Family-holding

Sale of a 20% minority stake

Software and advisory firm in the field of facility management

Company valuation

Firm active in the brokerage and private banking sector

Company valuation and capital increase

Firm active in the software integration sector

Drafting of a Business Plan

Insurance company

Exit from co-ownership

Family assetsFamily assets

Preparing a family charter

Family holding of an industrial group

Valuation in the context of a capital restructuring

Producer of construction supplies

Independent company valuation

Company active in the office design and facility management sector.

Fairness opinion

Real estate promoter

Exit of a minority shareholders and family arrangement

Real-estate development group

Search and evaluation of external directors on behalf of family shareholders

Insurance broker

Preparing the sale of the family owned company

Wholesale and producer interior decoration items

Cases 2014

Given the confidential character of most cases, the identity of our clients or the companies’ names cannot be disclosed.
Several clients however, are willing to testify on an individual basis about their cooperation with Deminor. Please contact us by email if would you like to get in touch with one of these clients.

Valuation and sale of a minority stake

Family-owned real estate company

Conflict resolution and corporate restructuring

Family enterprise in the glass industry

Negotiation and drafting of a shareholders’ agreement and group restructuring

Family business active in the production and storage of gas