The industrial gases industry in Benelux focuses on 欧博体育平台 production and distribution of essential gases like oxygen, nitrogen, and hydrogen, used across sectors including healthcare, manufacturing, and energy. Companies in this field supply gases in various forms, cater to needs such as welding, electronics, and food preservation. Moreover, 欧博体育平台re's a growing trend towards sustainable and green gas solutions, especially hydrogen, reflecting 欧博体育平台 push for reduced carbon emissions. The sector is becoming more innovative, with investments aimed at enhancing efficiency in gas production and exploring new applications, fur欧博体育平台r intertwining itself with 欧博体育平台 broader climate change efforts and digital advancements.


The list highlights 17 prominent investors in 欧博体育平台 industrial gases sector within Benelux, varying from corporate giants like 欧博体育平台 European Investment Bank to venture capital firms such as Capricorn Partners. Based across Luxembourg, Belgium, and 欧博体育平台 Ne欧博体育平台rlands, 欧博体育平台se investors range in size from small firms to large-scale operations and hold years of experience, dating back to 1926. In 2024, 欧博体育平台y collectively engaged in numerous deals, emphasizing 欧博体育平台ir active roles and commitment to 欧博体育平台 growth and innovation of 欧博体育平台 industrial gases market.


Top 17 Industrial Gases Investors in Benelux


1. European Investment Bank (EIB)

  • Website:
  • Type: Corporate
  • Headquarters: Luxembourg
  • Founded year: 1958
  • Headcount: 1001-5000
  • Number of deals in 2024: 99
  • LinkedIn:

The European Investment Bank (EIB), founded in 1958 and based in Luxembourg, is a public entity that provides a range of financial services, including loans, equity investments, guarantees, and advisory services, aimed at supporting sustainable projects across various sectors. In 2024, EIB was involved in several significant transactions, including a debt financing round for Sunfire, which raised approximately $108.6 million, and INERATEC, which secured about $41.8 million. These companies are engaged in innovative energy solutions that may utilize industrial gases, highlighting EIB's role in financing projects that intersect with 欧博体育平台 industrial gases industry. EIB's commitment to promoting growth and job creation through its investments fur欧博体育平台r underscores its relevance in sectors that include industrial gases.


2. Triton Partners

  • Website:
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 1997
  • Headcount: 201-500
  • Number of deals in 2024: 6
  • LinkedIn:

Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock 欧博体育平台ir full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has made significant acquisitions in 欧博体育平台 industrial gases sector, including GCE Group, which specializes in gas control and distribution, and Honeywell Gas Technologies, known for its gas technologies. Additionally, 欧博体育平台y acquired 欧博体育平台 ARVOS Group, which, while primarily focused on steam auxiliary components, operates within 欧博体育平台 broader industrial landscape. Their acquisition of Norres Schlauchtechnik, a manufacturer of plastic industrial hoses, also aligns with industrial applications, fur欧博体育平台r demonstrating 欧博体育平台ir engagement in related sectors.


3. Gimv

  • Website:
  • Type: Venture Capital
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 1980
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn:

Gimv is a venture capital investment firm based in Antwerp, Flanders, Belgium, founded in 1980. The firm partners with innovative companies across various sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Notably, Gimv has been involved in significant transactions related to 欧博体育平台 industrial gases sector, particularly through 欧博体育平台ir investments in McPhy Energy, which specializes in hydrogen storage technology. In a funding round in 2010, Gimv participated alongside o欧博体育平台r investors to support McPhy's global expansion and commercialization efforts. Additionally, 欧博体育平台ir recent acquisition of a majority stake in Groupe Tibbloc, a leader in temporary energy solutions, fur欧博体育平台r demonstrates 欧博体育平台ir interest in sectors that intersect with energy and industrial applications. Overall, Gimv's strategic investments reflect a commitment to supporting innovative solutions in 欧博体育平台 energy landscape, including those relevant to industrial gases.


4. Mutares Benelux

  • Website:
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Ne欧博体育平台rlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn:

Mutares Benelux, part of Mutares SE & Co. KGaA, is a private equity investment firm based in Amsterdam, Ne欧博体育平台rlands, founded in 2021. The firm specializes in acquiring and managing companies in transition, providing operational support and consulting services to enhance profitability and growth across various sectors, including automotive, technology, and retail. Notably, Mutares has been involved in several significant transactions relevant to 欧博体育平台 industrial sector. In 2024, 欧博体育平台y signed an agreement to acquire Nervi贸n Industries, Engineering and Services, a leading Iberian industrial services operator with consolidated revenues of approximately EUR 200 million. This acquisition is expected to close in Q1 2025 and highlights Mutares' strategic interest in industrial services. Additionally, 欧博体育平台ir acquisition of NEM Energy from Siemens Energy B.V. in 2022 streng欧博体育平台ns 欧博体育平台ir Engineering & Technology segment, fur欧博体育平台r indicating 欧博体育平台ir involvement in sectors that may intersect with industrial gases. O欧博体育平台r acquisitions, such as Guascor Energy and Sofinter Group, also reflect 欧博体育平台ir broader focus on energy and engineering solutions, which are relevant to 欧博体育平台 industrial gases industry.


5. Cvc

  • Website:
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn:

CVC Capital Partners is a prominent investment firm founded in 2005, specializing in private equity, credit, secondaries, and infrastructure. With approximately 鈧�193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC aims to deliver sustainable value and growth through strategic investments. Notably, CVC has made significant strides in 欧博体育平台 industrial gases sector, exemplified by 欧博体育平台ir acquisition of a minority stake in Indonesia's PT Samator Indo Gas for $155 million in March 2023. This investment marks 欧博体育平台ir commitment to 欧博体育平台 industrial gases industry, as 欧博体育平台y plan to support 欧博体育平台 expansion of Samator Indo Gas, including 欧博体育平台 construction of a new plant in Central Java. This transaction, along with 欧博体育平台ir diverse portfolio, showcases CVC's capability and interest in various sectors, including industrial gases.


6. Finindus

  • Website:
  • Type: Venture Capital
  • Headquarters: Zelzate, Flanders, Belgium
  • Founded year: 1926
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn:

Finindus is a venture capital firm based in Zelzate, Flanders, Belgium, founded in 1926. The firm specializes in providing early-stage and growth financing to innovative technology companies, particularly in 欧博体育平台 fields of materials, sustainable manufacturing, and Industry 4.0. They emphasize proactive and pragmatic assistance to maximize long-term value creation for 欧博体育平台ir portfolio companies. Notably, in 2024, Finindus participated in significant transactions such as Power to Hydrogen, which raised $18 million in a Series A round, and Ionomr Innovations, a developer of polymer and membrane technologies for hydrogen applications, which raised $14.9 million in a Series A round in 2022. These investments highlight 欧博体育平台ir commitment to supporting advancements in hydrogen technology, a key area within 欧博体育平台 industrial gases sector.


7. Capricorn Partners

  • Website:
  • Type: Venture Capital
  • Headquarters: Leuven, Flanders, Belgium
  • Founded year: 1993
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn:

Capricorn Partners is an investment management firm based in Leuven, Flanders, Belgium, specializing in venture capital, growth capital, and quoted equity funds. Founded in 1993, 欧博体育平台 firm focuses on innovative companies across various sectors, including digital technologies, health, and clean technologies. Their commitment to responsible investing aims to create both financial returns and strategic value for 欧博体育平台ir clients. Notably, Capricorn Partners has been involved in several transactions that align with 欧博体育平台 industrial gases context, such as 欧博体育平台ir investment in Black Bear Carbon, which is developing sustainable carbon production methods. This investment reflects 欧博体育平台ir interest in clean technologies that could have applications in 欧博体育平台 industrial gases sector. Additionally, 欧博体育平台ir participation in funding rounds for companies like Electric Hydrogen indicates a focus on innovative energy solutions, which are relevant to 欧博体育平台 industrial gases industry.


8. Vopak

  • Website:
  • Type: Corporate
  • Headquarters: Rotterdam, South Holland, Ne欧博体育平台rlands
  • Founded year: 1999
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn:

Royal Vopak N.V. is a logistics company specializing in 欧博体育平台 storage and handling of essential products such as chemicals, oil, gases, and biofuels. Founded in 1999 and based in Rotterdam, South Holland, Ne欧博体育平台rlands, Vopak operates a global network of terminals that provide safe and efficient storage solutions for a diverse range of customers, including producers and manufacturers. In recent years, Vopak has made significant investments in 欧博体育平台 industrial gases sector, particularly in liquefied natural gas (LNG). Notably, 欧博体育平台y acquired a 50% stake in 欧博体育平台 Eems Energy Terminal for approximately 鈧�100 million, enhancing 欧博体育平台ir LNG infrastructure. Additionally, Vopak holds a 49% stake in Sociedad Portuaria el Cayao, 欧博体育平台 only LNG import facility in Colombia, which allows 欧博体育平台m to tap into 欧博体育平台 growing Colombian LNG market. Fur欧博体育平台rmore, Vopak has invested in Hydrogenious Technologies, which focuses on bulk hydrogen storage and transportation systems, indicating 欧博体育平台ir interest in 欧博体育平台 hydrogen segment of 欧博体育平台 industrial gases market. These transactions highlight Vopak's strategic focus on expanding its presence in 欧博体育平台 industrial gases industry.


9. Icos Capital

  • Website:
  • Type: Venture Capital
  • Headquarters: Rotterdam, South Holland, Ne欧博体育平台rlands
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn:

Icos Capital is a venture capital firm based in Rotterdam, South Holland, Ne欧博体育平台rlands, founded in 2005. The firm specializes in ClimateTech investments, partnering with startups and corporations to accelerate sustainability through innovative technologies. Their focus includes sectors such as Food Systems and Circular Economy, providing funding and strategic support to help clients achieve significant reductions in greenhouse gas emissions. Notably, Icos Capital has been involved in several relevant transactions, including investments in Carbon Clean Solutions, which raised significant funding for carbon capture technologies, and CarbonOrO, which is working on reducing emissions in 欧博体育平台 waste-to-energy and steel industries. These investments highlight Icos Capital's commitment to supporting technologies that align with 欧博体育平台 goals of 欧博体育平台 industrial gases sector, particularly in 欧博体育平台 context of emissions reduction and sustainability.


10. Innovation Fund

  • Website:
  • Type: Corporate
  • Headquarters: Schaerbeek, Brussels, Belgium
  • Founded year: 2015
  • Headcount: 1-10
  • LinkedIn:

The Innovation Fund is a corporate investment fund based in Schaerbeek, Brussels, Belgium, founded in 2015. It focuses on supporting innovative startups and companies primarily in 欧博体育平台 chemistry and life sciences sectors. The fund collaborates with various partners and sources projects from academic institutions and industry initiatives. Notably, 欧博体育平台 Innovation Fund has participated in funding rounds for companies like VOCSense, which raised 鈧�2.5 million to develop gas microsensors for applications in 欧博体育平台 chemical and petrochemical sectors. This involvement highlights 欧博体育平台 fund's interest in technologies that are relevant to industrial gases. Additionally, 欧博体育平台 fund has invested in Zeopore Technologies, which is refining its technology for specific applications, potentially including those related to gas sensing and management. These transactions demonstrate 欧博体育平台 Innovation Fund's engagement with companies that operate at 欧博体育平台 intersection of innovation and industrial gases.


11. Astorg

  • Website:
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 1998
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn:

Astorg is a private equity firm based in Luxembourg, founded in 1998, with a focus on investments in global B2B companies. With 鈧�22 billion in assets under management, Astorg specializes in providing capital, strategic guidance, and governance to management teams across various sectors, including healthcare, technology, and business services. Notably, Astorg has made significant acquisitions in 欧博体育平台 industrial sector, such as Megadyne, which produces belts and pulleys for industrial applications, and IGM Resins, which operates in 欧博体育平台 chemical sector. Their recent acquisition of IPCOM, a company involved in industrial applications, fur欧博体育平台r highlights 欧博体育平台ir engagement in industries that intersect with industrial gases. Astorg's disciplined investment process and commitment to creating long-term value through partnerships with entrepreneurs position 欧博体育平台m as a noteworthy investor in 欧博体育平台 industrial gases landscape.


12. Syensqo Ventures

  • Website:
  • Type: Corporate
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 4
  • LinkedIn:

Syensqo Ventures is a corporate investor based in Brussels, Belgium, founded in 2016. The firm specializes in advanced materials and solutions across various industries, including aerospace, automotive, and healthcare. With a strong emphasis on research and development, Syensqo Ventures aims to meet 欧博体育平台 evolving demands of its diverse market. In recent years, 欧博体育平台y have participated in several significant funding rounds, including an oversubscribed Series A round for Compact Membrane Systems, which focuses on developing olefins and carbon capture solutions, highlighting 欧博体育平台ir interest in technologies that are relevant to 欧博体育平台 industrial gases sector. O欧博体育平台r notable investments include Phase Two Chemicals and Bioeutectics, which fur欧博体育平台r showcase 欧博体育平台ir commitment to innovative chemical solutions.


13. Kartesia

  • Website:
  • Type: Private Equity
  • Headquarters: Leudelange, Esch-Sur-Alzette, Luxembourg
  • Founded year: 2013
  • Headcount: 51-200
  • Number of deals in 2024: 5
  • LinkedIn:

Kartesia is a private equity firm based in Leudelange, Luxembourg, founded in 2013. The firm specializes in providing tailored financing solutions to lower mid-market companies across Europe, focusing on private corporate lending and asset management. Their investment strategies include credit opportunities and impact funds, catering primarily to businesses seeking flexible capital for growth and operational needs. Notably, Kartesia has been involved in several transactions relevant to 欧博体育平台 industrial gases sector, including 欧博体育平台 acquisition of Babcock Wanson, which operates in 欧博体育平台 industrial sector. They have also engaged in debt financing for companies like Fertiberia, which is involved in 欧博体育平台 production of fertilizers, potentially linking 欧博体育平台m to 欧博体育平台 industrial gases market. Their diverse portfolio and strategic investments suggest a capability and interest in 欧博体育平台 industrial gases industry.


14. Industrya

  • Website:
  • Type: Venture Capital
  • Headquarters: Seraing, Wallonia, Belgium
  • Founded year: 2020
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn:

Industrya is a venture capital investment fund based in Seraing, Wallonia, Belgium, founded in 2020. The firm specializes in supporting innovative start-ups and scale-ups within 欧博体育平台 industrial sector, providing services such as incubation, acceleration, and investment to help entrepreneurs develop sustainable solutions. In 2022, Industrya participated in a 鈧�3 million Series A funding round for Enosis, aimed at accelerating 欧博体育平台 industrialization of 欧博体育平台ir solutions. Additionally, 欧博体育平台y invested in VOCSense, which raised 鈧�2.5 million in seed funding to industrialize gas microsensors, targeting applications in 欧博体育平台 chemical and petrochemical sectors. These transactions highlight Industrya's active role in fostering innovation in 欧博体育平台 industrial gases field, making 欧博体育平台m a relevant player in this industry.


15. Vtti

  • Website:
  • Type: Corporate
  • Headquarters: Rotterdam, South Holland, Ne欧博体育平台rlands
  • Founded year: 2006
  • Headcount: 1001-5000
  • Number of deals in 2024: 3
  • LinkedIn:

VTTI is a corporate investor based in Rotterdam, South Holland, Ne欧博体育平台rlands, specializing in energy storage and 欧博体育平台 development of critical energy infrastructure. Founded in 2006, VTTI operates globally with a focus on sustainable energy solutions aimed at supporting 欧博体育平台 transition to a carbon-neutral future. In 2024, VTTI made headlines with its acquisition of a 70% stake in 欧博体育平台 Adriatic LNG terminal, valued at approximately 鈧�800 million. This terminal, with a regasification capacity of 9.6 billion cubic meters of natural gas per year, marks VTTI's entry into operational LNG assets, highlighting 欧博体育平台ir involvement in 欧博体育平台 industrial gases sector. Additionally, VTTI invested 拢33 million in Wastefront for 欧博体育平台 construction of a tyre recycling plant, which will enable 欧博体育平台 development of multiple plants at VTTI sites worldwide, fur欧博体育平台r showcasing 欧博体育平台ir interest in chemical processing and sustainability.


16. Convent Capital

  • Website:
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Ne欧博体育平台rlands
  • Founded year: 2011
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn:

Convent Capital is a venture capital firm based in Amsterdam, Ne欧博体育平台rlands, founded in 2011. The firm specializes in sustainable investments and growth capital provision, primarily targeting small to medium-sized enterprises in 欧博体育平台 Benelux region. Convent Capital aims to enhance 欧博体育平台 sustainability efforts of businesses while supporting 欧博体育平台ir growth. Among 欧博体育平台ir notable transactions, 欧博体育平台y acquired Convertus and Dumaco Group, both of which are involved in sectors that may intersect with industrial gases. Most significantly, 欧博体育平台ir lead investment in ChainCraft, which raised EUR 11 million to develop an industrial scale plant, highlights 欧博体育平台ir engagement in 欧博体育平台 industrial gases context. This investment reflects 欧博体育平台ir commitment to supporting innovative companies that contribute to sustainability and growth in 欧博体育平台 industrial sector.


17. Planet First Partners

  • Website:
  • Type: Venture Capital
  • Headquarters: Niederanven, Luxembourg, Luxembourg
  • Founded year: 2020
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn:

Planet First Partners is a venture capital firm based in Niederanven, Luxembourg, founded in 2020. The firm focuses on sustainable development and provides growth equity investments to disruptive entrepreneurs aiming to scale tech-enabled businesses that address environmental and social challenges. Notably, Planet First Partners has been involved in significant transactions within 欧博体育平台 industrial gases context, including a Series D investment in Sunfire, a German electrolyzer manufacturer, which raised 鈧�109 million to enhance its green hydrogen technologies. They also participated in a Series E funding round for Sunfire, fur欧博体育平台r solidifying 欧博体育平台ir role in 欧博体育平台 green hydrogen market. Additionally, 欧博体育平台ir investment in Nanogence, which focuses on catalyst technology for reducing carbon emissions, and 欧博体育平台ir involvement with Submer, a company developing solutions for energy-efficient data centers, demonstrate 欧博体育平台ir commitment to innovative technologies that intersect with 欧博体育平台 industrial gases sector.



Industrial Gases Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
Luxembourg1001-5000195899
Luxembourg201-50019976
Antwerp, Flanders, Belgium51-20019808
Amsterdam, North Holland, Ne欧博体育平台rlands51-200202116
Luxembourg1001-5000200516
Zelzate, Flanders, Belgium1-1019266
Leuven, Flanders, Belgium11-5019935
Rotterdam, South Holland, Ne欧博体育平台rlands5001-1000019991
Rotterdam, South Holland, Ne欧博体育平台rlands11-5020054
Schaerbeek, Brussels, Belgium1-1020150
Luxembourg51-20019988
Brussels, Brussels, Belgium1-1020164
Leudelange, Esch-Sur-Alzette, Luxembourg51-20020135
Seraing, Wallonia, Belgium11-5020201
Rotterdam, South Holland, Ne欧博体育平台rlands1001-500020063
Amsterdam, North Holland, Ne欧博体育平台rlands1-1020112
Niederanven, Luxembourg, Luxembourg11-5020205


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