Buyer landscape
Likely buyers · Consumer in Netherlands.
Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 28 verified exits: 61% to sponsors, 36% to corporates and platforms, 4% other routes. Route shift since 2020: sponsors 33% (was 37%), corporates and platforms 61% (was 53%), IPO 5% (was 10%) (sector-wide).
The list: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 46 geographic expansion candidates without a local platform yet. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. PAI Partners SponsorVery High93
58 platform investments in Consumer & Retail · 4 in Netherlands · 26 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Bought Arlettie from BNP Paribas Developpement, 2026 · Consumer, France
2. Orlando Management SponsorVery High92
7 platform investments in Consumer & Retail · 2 in Netherlands · 10 deals 2024–26
AUM €800M · Orlando Capital V · 2024 vintage · deploying · check €5-38M
Accelerating: 6 deals in the last 2 years vs 1.8/yr before.
Backed Kwantum, 2026 · Consumer, Netherlands
3. Finorpa Gestion SponsorVery High90
30 platform investments in Consumer & Retail · 27 deals 2024–26
Hauts-de-France Avenir TPE PME · 2026 vintage · deploying
8 platform investments since the 2026 vintage · early in deployment vs its usual 28 per fund.
Backed BDM Associes (Le Kiosque), 2026 · Consumer, France
4. Apheon SponsorVery High86
23 platform investments in Consumer & Retail · 10 in Netherlands · 11 deals 2024–26
AUM €4.5B · AMB VI · 2025 vintage · deploying · check €25-188M
7 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Backed Alma, 2026 · Consumer, Belgium
5. Apheon TMC HDC Long Term Value Fund (HarbourVest-led) + LFPI SponsorVery High86
23 platform investments in Consumer & Retail · 10 in Netherlands · 12 deals 2024–26
AUM €4.5B · AMB VI · 2025 vintage · deploying · check €25-188M
7 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Backed Alma, 2026 · Consumer, Belgium
6. Apheon TMC HDC Long Term Value Fund SCSp (HarbourVest + LFPI-backed continuation fund) SponsorVery High86
23 platform investments in Consumer & Retail · 10 in Netherlands · 12 deals 2024–26
AUM €4.5B · AMB VI · 2025 vintage · deploying · check €25-188M
7 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Backed Alma, 2026 · Consumer, Belgium
7. Apheon TMC HDC Long Term Value Fund SCSp (HarbourVest + MML Capital-backed continuation fund) SponsorVery High86
22 platform investments in Consumer & Retail · 11 in Netherlands · 12 deals 2024–26
AUM €4.5B · AMB VI · 2025 vintage · deploying · check €25-188M
7 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.
Backed Alma, 2026 · Consumer, Belgium
8. Axio Capital / Siparex Intermezzo 3 SponsorVery High86
11 platform investments in Consumer & Retail · 12 deals 2024–26
AUM €80M · Together (TGT) · 2025 vintage · deploying · check €1-9M
8 platform investments since the 2025 vintage · mid-deployment vs its usual 11 per fund.
Bought Asia Voyages from Adaxtra Capital, 2026 · Consumer, France
9. NextStage AM SponsorVery High85
17 platform investments in Consumer & Retail · 21 deals 2024–26
AUM €11.6B · FCPI NextStage CAP 2026 · 2026 vintage · deploying
5 platform investments since the 2026 vintage · early in deployment vs its usual 14 per fund.
Backed La Fabrique Cookies, 2026 · Consumer, France
10. NextStage AM, BNP Développement, Bpifrance and management SponsorVery High85
16 platform investments in Consumer & Retail · 21 deals 2024–26
AUM €11.6B · FCPI NextStage CAP 2026 · 2026 vintage · deploying
5 platform investments since the 2026 vintage · early in deployment vs its usual 14 per fund.
Backed La Fabrique Cookies, 2026 · Consumer, France
11. FrenchFood Capital SponsorVery High85
33 platform investments in Consumer & Retail · 14 deals 2024–26
AUM €450M · FrenchFood Agro Invest · 2023 vintage · deploying · check €2-15M
14 platform investments since the 2023 vintage · largely deployed vs its usual 10 per fund.
Backed EMMA Pâtisserie, 2026 · Consumer, France
12. FrenchFood Capital + Cerea Capital SponsorVery High85
34 platform investments in Consumer & Retail · 14 deals 2024–26
AUM €450M · FrenchFood Agro Invest · 2023 vintage · deploying · check €2-15M
14 platform investments since the 2023 vintage · largely deployed vs its usual 10 per fund.
Backed EMMA Pâtisserie, 2026 · Consumer, France
13. FrenchFood Capital, Socadif SponsorVery High85
33 platform investments in Consumer & Retail · 14 deals 2024–26
AUM €450M · FrenchFood Agro Invest · 2023 vintage · deploying · check €2-15M
14 platform investments since the 2023 vintage · largely deployed vs its usual 10 per fund.
Backed EMMA Pâtisserie, 2026 · Consumer, France
14. Waterland Private Equity SponsorVery High84
36 platform investments in Consumer & Retail · 56 in Netherlands · 39 deals 2024–26
Waterland Private Equity Fund IX (WPEF IX) · 2023 vintage · deploying · check €70-525M
48 platform investments since the 2023 vintage · largely deployed vs its usual 19 per fund.
Backed WellNess Sport Club, 2025 · Consumer, France
15. Indigo Capital SponsorVery High84
26 platform investments in Consumer & Retail · 10 deals 2024–26
AUM €800M · Indigo Capital III · 2024 vintage · deploying · check €5-38M
10 platform investments since the 2024 vintage · early in deployment vs its usual 25 per fund.
Backed Emosia Group, 2026 · Consumer, France
16. Quadrivio Group SponsorVery High84
22 platform investments in Consumer & Retail · 14 deals 2024–26
AUM €2.0B · Artificial Intelligence PE Fund · 2025 vintage · deploying
6 platform investments since the 2025 vintage · mid-deployment vs its usual 6 per fund.
Bought Les Secrets de Loly from Quilvest Capital Partners, 2026 · Consumer, France
17. Arkea Capital, BNP Paribas Developpement and IRD Invest SponsorVery High83
38 platform investments in Consumer & Retail · 25 deals 2024–26
AUM €1.3B · Arkea Capital 3 · 2025 vintage · deploying · check €1-11M
11 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed 123 Elec, 2026 · Consumer, France
18. Arkea Capital Partenaire SponsorVery High83
38 platform investments in Consumer & Retail · 25 deals 2024–26
AUM €1.3B · Arkea Capital 3 · 2025 vintage · deploying · check €1-11M
11 platform investments since the 2025 vintage · mid-deployment vs its usual 15 per fund.
Backed 123 Elec, 2026 · Consumer, France
19. PAI Partners (Fund VIII) SponsorVery High83
43 platform investments in Consumer & Retail · 4 in Netherlands · 17 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Innovad Group, 2026 · Consumer, Belgium
20. PAI Partners (Mid-Market Fund) SponsorVery High83
43 platform investments in Consumer & Retail · 4 in Netherlands · 16 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Innovad Group, 2026 · Consumer, Belgium
21. PAI Partners (Mid-Market) SponsorVery High83
44 platform investments in Consumer & Retail · 4 in Netherlands · 16 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Innovad Group, 2026 · Consumer, Belgium
22. PAI Partners / ADIA SponsorVery High83
43 platform investments in Consumer & Retail · 4 in Netherlands · 17 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Innovad Group, 2026 · Consumer, Belgium
23. PAI Partners and Ontario Teachers' Pension Plan SponsorVery High83
43 platform investments in Consumer & Retail · 4 in Netherlands · 16 deals 2024–26
AUM €33.0B · PAI Mid-Market Fund II · 2025 vintage · deploying
12 platform investments since the 2025 vintage · largely deployed vs its usual 10 per fund.
Backed Innovad Group, 2026 · Consumer, Belgium
24. Axio Capital / Siparex Intermezzo SponsorVery High83
11 platform investments in Consumer & Retail · 12 deals 2024–26
AUM €80M · Together (TGT) · 2025 vintage · deploying · check €1-9M
8 platform investments since the 2025 vintage · mid-deployment vs its usual 11 per fund.
Backed Asia Voyages, 2026 · Consumer, France
25. Argos Wityu SponsorVery High82
18 platform investments in Consumer & Retail · 3 in Netherlands · 13 deals 2024–26
AUM €2.3B · Argos Climate Action · 2023 vintage · deploying · check €7-51M
13 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.
Backed Relevi, 2026 · Consumer, Spain
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.