Argos Soditic opens Benelux office

The firm has been notably absent from the Benelux market to date, investing predominantly in France, Switzerland and Italy. The company currently has offices in Paris, Geneva and Milan.

Argos's new Brussels office opened in June. Argos Soditic senior partner Gilles Mougenot is leading the new office, which currently has three staff, some of whom are new hires while others have relocated.

Argos Soditic is branching out into Belgium to seek opportunities in Benelux's lower mid-market (specifically companies with enterprise values of €250m or less), which the firm claims made up 97% of buyouts carried out in the region in 2012.

According to Mougenot, the firm came across opportunities in Benelux in the past but opted against investing in the region because it wasn't a local player, something Mougenot feels is important when operating in a small market.

Mougenot told unquote" that the firm already has a couple of deals in the pipeline, but doesn't plan on finalising anything before the end of the year.

Argos Soditic will initially focus its operations on Belgium before branching out into the Netherlands, due in part to Belgium's strengthening economy versus the Netherlands' currently weak one.

Argos Soditic focuses its investment strategy on complex transactions including management buyouts, management buy-ins and corporate carve-outs, the latter of which has been increasingly prominent in the Benelux market in recent months.

The firm will seek to invest €10-30m in Benelux companies with an enterprise value ranging from €20-100m, Mougenot told unquote". In keeping with its current strategy in its established markets, Argos Soditic won't focus on specific industries in Benelux, but Mougenot stated that the food and industrial sectors appear strong in the region.

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