Who Owns Ackermans & Van Haaren Company?

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Who Really Controls Ackermans & Van Haaren?

Understanding a company's ownership structure is crucial for any investor or business strategist. From its humble beginnings as a dredging company, Ackermans & Van Haaren (AVH) has evolved into a significant Belgian holding company. This transformation raises a critical question: Who owns AVH, and how has this changed over time?

This in-depth analysis will explore the evolution of Ackermans & Van Haaren SWOT Analysis, from its founding in 1876 to its current status as a diversified investment group. We'll examine the influence of key AVH shareholders, the impact of its strategic investments, and the factors driving its financial performance. Discover the answers to questions like: Who are the major shareholders of AVH? How to invest in Ackermans & Van Haaren? And what companies does AVH own?

The foundation of Ackermans & Van Haaren (AVH) traces back to 1876, established through the collaborative efforts of Nicolaas van Haaren and Hendrik Willem Ackermans. Initially, the company operated as a construction and dredging enterprise, marking the beginning of its long and storied history.

While specific details concerning the exact equity split or initial shareholding percentages at the company's inception are not publicly available, the company's historical narrative suggests that early ownership was deeply rooted in the founding families. This familial involvement played a crucial role in shaping the company's early trajectory and values.

The company's initial focus was on construction and dredging. This early phase was critical in establishing the company's reputation and laying the groundwork for its future expansion and diversification. The vision of the founders, even in the early stages, was likely driven by an entrepreneurial spirit, aiming for sustained growth within the infrastructure sector.

Early Focus

The company's early work centered on construction and dredging projects.

This focus laid the groundwork for future diversification and growth.

First Contract

The company's first contract was in Belgium for fort construction in Namur in 1888.

This marked an important milestone in their early projects.

Transatlantic Project

The first transatlantic dredging contract was in Rosario, Argentina, in 1903.

This signaled the company's expansion beyond its initial geographical scope.

Founding Families

Early ownership was deeply rooted in the founding families.

This familial involvement shaped the company's values and direction.

Early Vision

The founders likely had a vision for long-term growth in the infrastructure sector.

This entrepreneurial spirit drove the company's early success.

Entrepreneurial Spirit

The company's vision, even in its early stages, was likely driven by the entrepreneurial spirit of its founders.

This aimed for long-term growth in the infrastructure sector.

Key Points on Founders and Early Ownership

The Belgian holding company, Ackermans & Van Haaren, began in 1876 with a focus on construction and dredging, founded by Nicolaas van Haaren and Hendrik Willem Ackermans.

• The initial contracts included fort construction in Belgium and transatlantic dredging projects.
• Early AVH ownership was closely tied to the founding families.
• The founders' vision emphasized long-term growth in the infrastructure sector.
• For further insights, explore the Competitors Landscape of Ackermans & Van Haaren.

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The evolution of ownership at Ackermans & Van Haaren (AVH) reflects its transition from a construction firm to a diversified investment holding company. A pivotal moment was the Initial Public Offering (IPO) on the Brussels Stock Exchange in 1984. This move allowed AVH to access public markets, supporting its expansion and diversification strategies. The current ownership structure, as of March 26, 2025, is characterized by a capital base of €2,295,277.90, distributed across 33,157,750 shares with voting rights.

The ownership structure of AVH is designed to ensure long-term stability. The company's structure includes a multi-layered control chain. Scaldis Invest NV holds a significant stake, directly controlling AVH with a 33.34% share, which is equivalent to 11,054,000 shares as of March 26, 2025. Scaldis Invest NV is, in turn, controlled by Belfimas NV, which holds 92.25% of Scaldis Invest's capital. The ultimate controlling shareholder is Stichting Administratiekantoor 'Het Torentje'. This structure, which culminates in a Dutch-incorporated entity, supports a family-oriented approach to governance, a core value of the company.

Institutional investors also play a role in AVH's shareholder base. As of December 31, 2024, Dimensional Fund Advisors, Ltd. was a notable institutional owner. BlackRock Asset Management Deutschland AG held a position as of January 31, 2025. Furthermore, AVH holds a number of its own shares, with 457,786 treasury shares as of March 26, 2025. These shares are primarily used for liquidity contracts and to meet stock option obligations. This blend of a strong core shareholder base and engagement with public markets allows AVH to pursue its growth objectives. For more insights into AVH's strategic growth, consider reading about the Growth Strategy of Ackermans & Van Haaren.

Key Takeaways on AVH Ownership

AVH's ownership structure is designed for long-term stability and strategic growth, combining family control with public market access.

• Scaldis Invest NV directly controls AVH with a significant stake.
• The ultimate control rests with Stichting Administratiekantoor 'Het Torentje', emphasizing a family-oriented approach.
• Institutional investors, like Dimensional Fund Advisors and BlackRock, also hold stakes.
• The company strategically manages treasury shares for liquidity and stock options.

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The Board of Directors of Ackermans & Van Haaren (AVH) plays a pivotal role in its governance structure. As of June 8, 2025, the board is led by Luc Bertrand, serving as Chairman and non-executive director, with his mandate expiring in 2025. The board comprises a mix of experienced individuals, including Jacques Delen, Frederic van Haaren, Thierry van Baren, Julien Pestiaux, Pierre Willaert, and Deborah Janssens as non-executive directors. Independent directors such as Sonali Chandmal, Marion Debruyne, Bart Deckers, and Victoria Vandeputte also contribute to the board's diverse expertise. The average tenure of board members is a substantial 11.9 years, indicating considerable experience and stability within the company's leadership.

The composition of the board reflects a balance between major shareholders, representatives from the founding family, and independent members. This structure is designed to ensure effective oversight and strategic direction. The recent renewal of mandates for key non-executive directors, including Luc Bertrand, Jacques Delen, and Frederic van Haaren, was approved at the annual general meeting on May 26, 2025. This reinforces the board's stability and its commitment to the company's long-term vision. The board's composition and the renewal of mandates highlight the company's commitment to sound governance practices.

The voting structure at Ackermans & Van Haaren generally follows a one-share-one-vote principle. As of March 26, 2025, there were a total of 33,157,750 shares with voting rights. Scaldis Invest NV, the direct controlling entity, holds a significant 33.34% stake, giving it substantial voting power. The alignment between the ultimate controlling entities and the company's operations is further strengthened by the presence of both Luc Bertrand and Frederic van Haaren on the Belfimas board of directors. The company's emphasis on strong governance, risk management, and corporate social responsibility underscores its commitment to maintaining transparency and accountability.

Key Takeaways on AVH Ownership

Understanding the board of directors and voting power is crucial for anyone looking into AVH ownership.

• The board includes a mix of experienced directors and independent members.
• The voting structure is primarily one-share-one-vote.
• Scaldis Invest NV holds a significant controlling stake.
• The company emphasizes strong governance practices.

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Over the past few years, Ackermans & Van Haaren (AVH) has actively managed its portfolio. This has involved strategic investments, divestments, and share management initiatives. In 2024, AVH made significant investments totaling €245.9 million. These included a €138.2 million acquisition of a 33% stake in V. Group, a leader in ship management, and additional investments in Van Moer/Blue Real Estate, SIPEF, and Nextensa. AVH also invested in Confo Therapeutics, committing €15 million for an initial 6.2% shareholding. These moves demonstrate AVH's commitment to adapting to evolving market dynamics and its focus on sustainable investments.

In terms of divestments, AVH generated €15.6 million in cash in 2024, including a €6.1 million earn-out on Ogeda. Furthermore, AVH completed a €70 million share buyback program in November 2023, acquiring 488,414 shares. In February 2024, the board decided to cancel 339,154 shares, representing 1.01% of outstanding shares, which was notarized on April 5, 2024. As of March 26, 2025, the company held 457,786 of its own shares. These actions reflect AVH's focus on shareholder value and efficient capital allocation. The 3-year share buyback ratio for Ackermans & Van Haaren NV was 0.50% as of December 2024, and 0.12% as of June 12, 2025.

The company's financial performance in 2024 showed a net profit of €460 million on a turnover of €7.6 billion. The company proposed a 12% increase in its dividend to €3.80 per share for 2024. These figures highlight the company's strong financial health and its commitment to rewarding its shareholders. This performance aligns with the company's strategic investments and ongoing portfolio management, reflecting a positive outlook for the future.

AVH Ownership Overview

AVH is a Belgian holding company with a diverse portfolio. It actively manages its investments through acquisitions, divestments, and share buybacks. AVH's strategic moves reflect its focus on sustainable investments and shareholder value.

Key Financial Highlights (2024)

In 2024, AVH invested €245.9 million and generated €15.6 million from divestments. The company reported a net profit of €460 million on a turnover of €7.6 billion. A dividend increase of 12% to €3.80 per share was proposed.

Share Management Activities

AVH completed a €70 million share buyback in November 2023. In February 2024, the board canceled 339,154 shares. As of March 26, 2025, the company held 457,786 of its own shares, demonstrating active share management.

Industry and Strategic Alignment

AVH's investments align with industry trends, focusing on sustainable investments. The company's acquisitions in renewable energy and healthcare sectors reflect its adaptation to market dynamics and commitment to a sustainable future.

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