Winners M&A Awards 2022

After a preliminary research and selection process supported by our knowledge partner Vlerick Business School, the panel of judges reviewed 62 extensive pitches (submitted by the M&A community) and nominated 18 finalists in six categories, view all the nominees here.

All deals have been thoroughly evaluated by the jury. The judges determined the winners by scoring each deal on criteria such as value creation, strategy, complexity, financing structure, entrepreneurship, etc. See all criteria in the Regulations 2022. 

The winners of the M&A Awards 2022 were announced during the gala evening on 24 November at Maison de la Poste in Brussels.

Best Large Cap Corporate Deal 2022

Carpenter Corporation acquires Engineered Foam business of Recticel

Comments Panel of judges

The acquisition of the Engineered Foam business of Recticel by the American Carpenter Corporation, through a rare white-knight strategy, was (together with the sale of the Bedding division) part of the defence strategy of Recticel against the hostile bid by Greiner. The jury considered this an exceptional situation and praises the way Recticel handled these transactions. The entire operation was very complex, with a strategic reorientation, carve-outs and the necessary approval of the shareholders.

Best Mid Cap Corporate Deal 2022

Stadsbader Group acquires BAM Contractors

Comments Panel of Judges

The jury honours the acquisition of BAM Contractors by Stadsbader Group. Stadsbader Group is a family-owned group in the construction sector with a fine track record, buying assets from an international specialist in infrastructure works. The deal was quite complex and leads to a significantly higher turnover and a much more diverse offering for Stadsbader.

Best Large Cap Private Equity Deal 2022

Bain Capital acquires House of HR from Naxicap Partners

Comments Panel of Judges

Naxicap Partners sold its stake in House of HR to Bain Capital. According to the panel of judges, this was a mega deal that scores well on many different levels: value creation, leadership, shareholder value and deal complexity.

Best Mid Cap Private Equity Deal 2022

Prophix acquires Sigma Conso from Fortino Capital Partners

Comments Panel of Judges

The acquisition by Prophix of CPM software manufacturer Sigma Conso is the winner in this category. Fortino Capital Partners invested barely a year and a half in the company, but created a lot of added value during that period, leading to an unsolicited offer that everyone felt good about. thinks Deliverect might be the next Belgian unicorn.

Best Venture Capital Deal – Technology 2022


Comments Panel of Judges

Software company Collibra achieved another significant capital round late last year. The jury has a lot of respect for the trajectory of this Belgian success story. At the time Sofina stepped in, the company had a valuation of €5 billion and was the first Belgian pentacorn.

Best Venture Capital Deal – Life Sciences 2022


Comments Panel of Judges

Precirix is a spin-off from the VUB, led by female CEO Ruth Devenyns. After a somewhat slower start in the beginning, this company is now well advanced in the development of highly accurate substances to fight cancer. Of the three nominees in this category, this company is the furthest along in its journey. As a result, it achieved one of the biggest fundings of the year.