Referenties

How Butterfly Equity Boosts Pete & Gerry's Organic Eggs Success

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Fri, 18 Apr 2025 06:00:00 GMT

No Easter without Easter eggs! Fund manager Morgan Hielkema discussed Pete & Gerry’s Organic Eggs, one of Butterfly Equity's portfolio companies, with Eric Tommarello. This case beautifully illustrates how specialized top funds add value for Marktlink Capital's investors.

Butterfly

One of the funds in our second private equity fund-of-funds is Butterfly, based in Los Angeles. This fund is a sector specialist focusing on companies in the food and agriculture sector. Three reasons why Marktlink Capital chose to include Butterfly in the portfolio:

Interesting market segment. The food and agriculture sector is a large and growing market with several key underlying upward trends, such as increased demand for organic and sustainable products. Strong sourcing engine. Butterfly has a capable team with a strong network that knows the market well, allowing them to be at the forefront when attractive deals arise.

They also possess the right expertise to accurately value deals in their niche, the capability to grow the companies, and the network within the sector to attract the right people. Confidence in the team and founders.

The founders of Butterfly, Adam Waglay and Dustin Beck, have previously demonstrated excellent results at KKR and Vista. Investing is ultimately about people, and fund managers who can manage well themselves, but more importantly, find the best management teams for their portfolio companies, make the difference.

Pete & Gerry's

When we examine the case of Pete & Gerry’s, we can clearly see how these three points resonate in the deal.

Firstly, it is evident that Pete & Gerry’s aligns well with Butterfly's sector focus. The company also fits well with broader societal trends. Due to increasing awareness of climate change and animal welfare, the demand for organic products is rising. Additionally, with general wealth increasing, consumers are spending more on premium groceries, often driven by lifestyle trends where healthy eating plays a significant role. With recent disruptions in global supply chains, such as COVID and avian flu, the importance of local egg production has become significantly greater. Overall, the demand for high-quality and organic products, like Pete & Gerry’s eggs, is increasing.

Butterfly connected with Pete & Gerry’s through its network. One of the most renowned pioneers of organic farming in the U.S., Gary Hirshberg, knew Butterfly from a previous deal with Orgain. When he learned that the family behind Pete & Gerry’s was looking for a suitable partner, Hirshberg introduced the two. This introduction gave the company’s founders enough confidence that their business would be in good hands with Butterfly. The deal ultimately went to the Californian investor, even though they did not make the highest bid. The financial component of a deal is important, but not always decisive.

Regarding management, during the acquisition, the company was still family-run. However, with the company's growth, there were significant opportunities to broaden management by appointing professional management alongside the existing talent within the organization.

Strategy

Butterfly's strategy enabled the organization to achieve significant growth: at the start of the process, the annual revenue was around 250 million dollars; four years later, it has well surpassed the 450 million dollar mark. The fund has also recently acquired Pasture Brands as part of a buy-and-build strategy. According to Butterfly, the company is well on its way to delivering excellent financial results for investors.

Happy Easter, and if you would like to learn more about Butterfly or any of the other impressive funds in our portfolio, please contact our team via the contact form below.

Alpine's Journey: From Custom Earplugs to Global Hearing Protection Leader

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Tue, 18 Feb 2025 15:01:42 GMT

CEO Arthur van Keeken of Alpine explains how his company, with the help of private equity, grew into a global player in the field of premium hearing protection.

Essential if you're heading to a festival this summer or attending the Dutch Grand Prix: a good set of earplugs. Alpine is a key player in this thriving market. The company started in 1994 as a specialist in custom-made hearing protection and later expanded to include a wide range of specialized earplugs. Whether for motorsports or a good night's sleep, Alpine is the place to be.

That wide range of products is there for a reason, says Arthur van Keeken, CEO of Alpine Hearing Protection: "The world is getting louder and louder. There is more and more annoying noise and harmful noise. We cater to both directions with our range. Alpine is unique in the breadth of its product offering: we make hearing protection for all ages, from babies to adults. We do this in various formats in and over the ear. It is unique how deeply we go into functionality and continuously try to improve it."

In 2018, private equity firm Vendis Capital came on board. This originally Belgian fund focuses exclusively on companies that make products for the consumer market. Other portfolio companies include the camera stores of Kamera Express and the skincare products of Skins. Strategically, Vendis expands its portfolio companies along three main lines, summarized as the 'Three C's': Categories, Channels & Countries. More countries, more sales channels, and more categories in which the company is active.

With the entry of Vendis and the appointment of a new management team led by Van Keeken, Alpine's position in premium hearing protection has been significantly strengthened. "We have, among other things, become big in America, where we were not previously present. We have made a huge impact there. We have also tapped into new categories, such as more products for those seeking tranquility and products in the field of ear care.

We have significantly accelerated in e-commerce with new systems and a strengthened team with additional expertise in that area. Additionally, efforts have been made to improve sales through traditional channels, such as drugstores. Previously, earplugs were hardly found in a drugstore. When I started, I played a game with my colleagues to see who could find the earplugs first at the drugstore. Today, the drugstore sees it as a serious category with potential and priority. The strategy to sell earplugs at music festivals was also rolled out internationally and expanded to other events such as car races.

The execution of the strategic plans is carried out on one hand by allowing Alpine's business to grow organically, but also by acquiring complementary companies in the same industry. For example, in 2020, Vendis acquired Acoufun to complement Alpine: this French company had built a good reputation and position as a supplier of hearing protection at motorsport events such as the 24 Hours of Le Mans and Formula 1. However, strengthening natural growth has always been the main focus: "We made two acquisitions at the beginning, but have mainly grown organically since then. The focus is on organic growth, where all the opportunities lie."

In addition to financial support, the partnership with Vendis also has other advantages, says Van Keeken: "The advantage of such a network as Vendis is that it includes many similar companies operating in the consumer sector and growing rapidly. Then you notice that you face the same challenges as your fellow CEOs, with whom you can then get in touch; something that Vendis also facilitates well." Van Keeken gives the example of developing and rolling out an e-commerce strategy: "When we started with Alpine, we knew that marketplaces like Amazon were an interesting channel, and to kickstart that, we were then connected to a few good entrepreneurs who already had a lot of traction with Amazon."

A point of focus during the transition to a management team with private equity support is the relationship with the entrepreneurs. In the case of Alpine, Van Keeken worked closely with Peter and Lisette de Roode, who founded the company in 1994, both before and after the acquisition. "During my first six months of onboarding, I collaborated extensively with them, and the founders gradually withdrew from the company. The contact is still very good and pleasant. We still share successes daily. We do this more out of passion than from the company's direction. Alpine is truly a case study of how a transition from the founders can be managed."

In conclusion, Van Keeken notes that Alpine's growth is likely to continue: the macro trend is that hearing protection is becoming increasingly important and the market is far from saturated. In that respect, the company has a healthy long-term perspective. And that, says the CEO, is essentially the art of a good private equity investment: selecting companies that can grow healthily in the long term.

Invest in International Venture Capital with Marktlink Capital

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Tue, 18 Feb 2025 14:38:18 GMT

Entrepreneur Daan has been active in the financial sector for nearly twenty years. He is involved in corporate finance and investments in companies, particularly in real estate and shipping. Privately, he has recently started investing through Welt, the venture capital fund that is now part of Marktlink Capital. Daan: "I am very enthusiastic; the fund truly has a unique proposition."

In recent years, Daan has made significant business investments outside the stock market. Privately, he currently has two investments in the buyout segment and invests in real estate. Daan: "I found venture capital to be an interesting addition to this. In large or growing companies in foreign divisions with a good track record, I expect a lot of growth in the coming years."

Unicorns of tomorrow

Daan chose the venture capital fund of Marktlink Capital. "Through a partner who had good experiences with Marktlink Capital, I came into contact with them. The whole story immediately appealed to me, such as the investments in leading European technology companies and the unicorns of the future, the entrepreneurial culture, and the management that possesses the right knowledge and expertise. Thanks to my background, I am familiar with venture capital in the Netherlands and have some idea of what is available. I find the proposition of Marktlink Capital truly unique in the Netherlands."

Diversified portfolio

"Moreover, as an individual in the Netherlands, you don't easily gain access to a large, international venture capital fund," Daan continues. "Just as it's nearly impossible to achieve such diversification with a single fund on your own. At Marktlink Capital, however, you can. Here, as an individual investor, I have the opportunity to invest with a diversified portfolio within this asset class."

Great asset allocation

The main goal of Daan's investment is investing. "Venture capital generally has a high return. For me, this is a very nice addition to my current investments; this way, I diversify my activities even better. I see it as good asset allocation."

Although the venture capital fund of Marktlink Capital has not been around for very long, Daan has already had good experiences with the fund, he says. "The culture within Marktlink Capital is very entrepreneurial and the communication to investors is clear. I am very satisfied with how things are going."

Jeroen Venema on why he chooses private equity

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Tue, 16 Apr 2024 08:01:43 GMT

In 2021, Jeroen Venema (59) sold a majority stake of 60 per cent in his company Ventraco. He will remain involved in the company until 2023; he will step down gradually. But he doesn't like to sit back and do nothing. Jeroen likes looking ahead, he is always thinking about the future. Through Marktlink Capital, he now invests in private equity. Not necessarily for the long-term returns, but mostly because he just wants to help other entrepreneurs and start-ups grow.

When Marktlink Capital asked him whether he was interested in investing, he became curious. "Private equity always sounded like a dirty word to me. My first thought was always: those guys, out to make a fast buck, without looking at the consequences for the companies. I already knew Marktlink from when I sold my company; a fun, young organisation with a lot of gusto. With people who know what's going on in the world. The same turned out to be true for Marktlink Capital, when they told me more." Jeroen learned that private equity is much more than earning money, that you can help companies become stronger through buy-and-build. "In fact, exactly what I did with my own business. That sounded much more positive and fun than what I had been imagining."

Supporting Young Entrepreneurs and Startups

The fact that Marktlink Capital's own employees are also investing in this way gave Jeroen the confidence to invest. "I am happy about the fact that we do it together and close attention is paid to where the money is invested in." He is not in it for the money, however. "Private equity is usually only profitable in the long term. In ten years, I'll be almost 70. Of course, I want long-term returns, but that was not my main goal. I participate because of diversification, but mostly because I really like it. Entrepreneurship is in my blood. I think it's great to help young entrepreneurs and support start-ups. Private equity is an important tool to help companies grow further. That is precisely what gives me energy."

Expanding the Network

Jeroen invests through Marktlink Capital Fund I. That provides him with valuable contacts. "Of course, I already have many business contacts, but the collaboration with Marktlink Capital allows me to increasingly exchange views with like-minded people. Especially with young entrepreneurs, I have interesting conversations about investments; they view things very differently. Very refreshing and informative. For example, we were in Switzerland, at a rally organised by Marktlink Capital. There are worse places to be. For me personally, the story around investing is as much fun as investing itself."

Joep Verbunt Keeps His Capital Active with Marktlink Capital

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Tue, 16 Apr 2024 08:00:48 GMT

"Marktlink provides me access to the appropriate top funds"

As the founder of the revolutionary mattress factory Matt, Joep Verbunt's mission is to make sure the Dutch get a good night's sleep. Dormant assets, however, are not something that makes him happy. By investing through Marktlink Capital in venture capital and private equity funds, he keeps his capital in motion.

Joep Verbunt, 37-year-old founder of Matt, shares his entrepreneurial journey in Marktlink Magazine 17. With Matt experiencing rapid growth, Joep has ambitious plans to extend its presence into even more bedrooms.

Matt's excellent performance has obviously also affected Joep's bank balance. "Being an entrepreneur, it made sense to have a buffer to absorb setbacks. But when that buffer becomes too great, the money is just sitting in the bank and that will only cost me money, seeing the negative interest rates these last few years. Besides that, it's simply a risk. What do I do in the event of a banking crisis? That is why I decided to invest through Marktlink Capital."

Access to Top European Funds

Joep invests in venture capital and private equity funds. "This combination allows me to spread risk while gaining access to top European funds. The returns are also very interesting to me and Marktlink Capital takes all the work off my hands. Because we are a small team, I am very active within Matt myself, which is why I don't have time to actively invest in other companies. And so it's great to invest in a fund that takes care of that for me, and Marktlink Capital makes sure I have access to the right funds."

Nevertheless, the young entrepreneur finds it fascinating to see how such funds work. "I am always open to new things and it's incredibly interesting to me to see how this works and what returns you can expect. The big advantage of investing in venture capital and private equity is that these are processes with a clear beginning and end. You invest, and after a predefined period, you sell your shares. That makes it easier to plan."

Well-informed investing

Joep continues: "I am pretty critical of the funds I want to invest in. I prefer to invest in funds with a good track record and a clear strategy. How have they performed in recent years? What exactly do they invest in and do they spread their risks well? All things I take into account when deciding whether or not to invest in a fund."

Nice and reliable guys

Investing in Marktlink Capital feels right for the wide-awake entrepreneur. "It provides great networking opportunities. At the end of August, all of us go to the F1 races in Zandvoort, and throughout the year, Marktlink Capital organises events to come into contact with fellow entrepreneurs. Those are some nice benefits. In general, I can say that I feel at home at Marktlink Capital. No grey men in suits, but nice, smart and reliable guys my age who speak my language. I can identify with that just fine."

Entrepreneur Jan van den Treek is always looking for returns

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Tue, 16 Apr 2024 08:00:32 GMT

Serial entrepreneur Jan van den Treek has been active in business services, mechanical engineering and robotics. He primarily invests in real estate, direct stakes in various companies and private equity. Marktlink Capital’s Fund II immediately caught Jan’s attention and now, he is also considering investing in Fund III.

Entrepreneur Richard Verbrugge chooses private equity

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Tue, 16 Apr 2024 07:59:08 GMT

"Thanks to Marktlink Capital, private equity becomes accessible to entrepreneurs like me"

In 2021, Richard Verbrugge (51) sold a majority share in his window treatments company. Up until then, he hadn't really considered investing. But after selling his company, he thought it was time to use his money to invest in a stable future. So, he now invests in private equity through Marktlink Capital.

The sale of his company to investor Committed Capital freed up money. Richard wanted to use his money wisely. "For a long time, I didn't really see investing as an option," Richard explains. "In the past, I always believed that money only has value when you can actually use it. I changed my mind though. You can't put all your money in the bank, that's neither smart nor profitable. At some point, therefore, it seemed a good idea to invest a part of my money, also for some future security."

Via Marktlink, the party that assisted in the sale, Richard got in touch with Marktlink Capital. "I had some good conversations with the partners about investing through Marktlink Capital. They could precisely explain how it works."

Richard now participates in Fund II. "With Marktlink Capital, you know exactly what you are investing in. The money is well diversified across funds that all achieve good returns. A secure feeling. Additionally, Marktlink Capital has a lot of knowledge and expertise; the partners have a lot of experience in the private equity sector. I have little understanding of it myself, but my money is in good hands, and that gives me peace of mind."

Private equity for entrepreneurs

It was a conscious choice of Richard's to invest in private equity. "Investing in the stock market is not for me, much too volatile. Private equity, on the other hand, means long-term investments in fast-growing companies outside of the stock market, that is what I like. Committed Capital, the company that has a majority share in my company, is also a private equity investor. Thanks to Marktlink Capital, strong private equity funds are also accessible to entrepreneurs like me."

Networking with other successful entrepreneurs

Another benefit: Marktlink Capital investors gain exclusive access to the Investor Community. A select network of other successful entrepreneurs. This year, Richard was also present at the Marktlink Capital Investor Community Event during the Formula 1 Dutch Grand Prix in Zandvoort. "That was a wonderful event to be a part of. I talked to a lot of people and made a few valuable new connections. The other meetings, like with investment firms from the funds, are very interesting as well. It is great to be involved in that way."

Entrepreneur Martijn wants diversification in private equity funds

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Tue, 16 Apr 2024 07:48:07 GMT

Late May 2022, Martijn sold his e-commerce company. After 16 years, it was time for something new. Selling his company freed up a lot of money, which he wanted to secure for the future. Martijn decided to invest his money in private equity.

The fact that Martijn stepped down from his company, does not mean that he's resting on his laurels, on the contrary. Currently, he focuses on setting up his own portfolio of participations in companies. He now helps other companies grow. So the investment world is nothing new for him. When he sold his company, it was clear that he wanted to invest his money in a smart way.

Adding Value with Private Equity

It was a conscious choice of Martijn to invest in a private equity fund, he says. "I believe most in long-term investments. That is why private equity is so interesting; statistically speaking, there are very good returns possible in the long term."

"Not only that, but you can really add value to companies with private equity", Martijn continues. "By way of specific knowledge or the network that a private equity firm has. The private equity firm's long-term involvement in a company often adds much more value than is the case with listed companies."

Marktlink's Knowledge and Network

In his search for a suitable private equity fund, Martijn ended up at Marktlink Capital, he says. "Marktlink is known as the number 1 when it comes to mergers and acquisitions in the SME segment. From there, the company built its expansive network. Marktlink Capital's investment funds are professionally set up by professionals with a lot of knowledge of the sector. That gave me the confidence."

Another reason to choose Marktlink: there is a relatively low minimal investment needed. "As a private investor, you can't usually join these kinds of solid funds. In that aspect, Marktlink Capital really is for and by entrepreneurs." The minimal investment amount is €250,000.

Strategic spread

Martijn compared several private equity funds, but ultimately chose Marktlink Capital's Fund II. "This investment fund has a very good, strategic spread among different private equity funds. It spreads across funds in different countries and with different points of focus. This was not something I had seen at competitors before. Moreover, as an investor, you know exactly what you are investing in, which just feels good."

Marktlink Capital's active attitude appealed to Patrick

constanteyn@marktlinkcapital.com (Constanteyn Roelofs) — Mon, 15 Apr 2024 06:54:25 GMT

Patrick van Jaarsveld works at NA-Invest. This investment fund invests in innovative, promising, and future-oriented sectors and medium-sized enterprises. NA-Invest also participates in funds such as Marktlink Capital's Fund II, a private equity fund that assists companies in growing into global leaders in their niche.

NA-Invest is an independent investment fund, originating from private capital. With NA-Invest, the company wants to support other entrepreneurs and help them grow. Together with NA-Invest's stakeholders, Patrick selected Marktlink Capital's private equity fund.

Cooperative Entrepreneurship

The third generation is now at the helm of the active family company. Two brothers with the ambition for further growth; they want to invest in the future of the company. But they also want to invest in other entrepreneurs, strengthen and complement each other, says Patrick. "With NA-Invest, we help innovative, ambitious companies to achieve their growth ambitions. With financial means, sector knowledge and our network, for example. We really believe in the power of 'together', and strive for cooperative entrepreneurship."

Long-term investment

In a conversation with Marktlink, one of the partners informed Patrick about Marktlink Capital's Fund II. A private equity fund through which they could really create added value for these specific companies. "Private equity means investing for the long term. That aligns well with our own ambitions; we also adopt a long-term perspective ourselves. You can add more value that way, share knowledge, optimise performance; really help each other grow."

For and By Entrepreneurs

"In that respect, Marktlink Capital's slogan 'for and by entrepreneurs' suits us to a tee. You can achieve much more together", Patrick continues. "At Marktlink Capital, we saw an active approach that appealed to us. Actively seeking partnerships, helping other entrepreneurs, supporting growth ambitions and connecting people. They don't have a 'sit back and watch' attitude, but they take the lead. That is also very much how we at NA-Invest and the family business look at it."

Access to Top Funds and Network

Another advantage of investing in one of Marktlink's funds is the access to larger private equity funds and the associated fund managers. It is hard for private investors to gain access, but through an investment in one of Marktlink's funds, you're more likely to succeed.