VENDIS CAPITAL MANAGEMENT NV

Thesis

Vendis Capital Management NV is an independent private equity firm founded in 2009, specializing in the European consumer goods sector. They focus on investing in and scaling small to medium-sized consumer companies, partnering with entrepreneurs and managers. Their core investment thesis is to identify strong consumer trends and partner with businesses that can capitalize on them, with a strict sector focus on consumer brands. They employ a "pure-play" strategy in the European lower mid-market, engaging in both buyout and growth equity transactions, often acquiring significant majority stakes to drive operational transformations, international expansion, and professionalization. Their growth strategy is guided by a 5Cs framework. The firm operates with multiple funds: Vendis Transition Fund (equity tickets €5M-€20M, targeting profitable consumer businesses with at least €2M EBITDA), Vendis Main Fund (e.g., Vendis IV, equity tickets €20M-€75M, Vendis IV closed at €525M in March 2025), and Club Deals (ticket sizes exceeding €75M). Investment criteria include companies with revenue of €10M-€300M and EBITDA of €2M-€30M. Their geographic focus is pan-European, including Benelux, France, DACH, and Nordics. Vendis IV raised €525M, Vendis Transition Fund targets €150M (first close >€100M), Vendis Capital II closed at €180M, and Vendis Capital I closed at €111.5M. They have a team of approximately 24 professionals and are a Certified B Corporation.