Mentha Capital

Mentha Capital, established in 2007, is a private equity firm based in Amsterdam, Netherlands. It specializes in investing in smaller mid-sized companies in the Benelux region, with a focus on the lower mid-market. The firm targets businesses across various sectors, including business-to-consumer, retail, business-to-business, and industrials, among others. Mentha Capital manages multiple buyout funds, with Fund VII being the most recent vintage (2022). The firm is backed by a select group of committed investors and has a longer-term investment horizon.

Peter Lynghoj Johansen

Partner

Edo Pfennings

Partner

22 past transactions

Bright River

Private Equity Round in 2021
Bright River is a leading provider of visual content solutions tailored for e-commerce brands and retailers. Established in 2006 and headquartered in Haarlem, the Netherlands, with an additional office in New York, the company employs 750 professionals across five offices globally. Bright River specializes in a comprehensive range of services, including visual product content analysis, optimization, post-production image editing, and CGI creation. These services are designed to enhance online shopping experiences, facilitate customer conversion, and decrease product returns by delivering high-quality visual content. By offering end-to-end, scalable solutions, Bright River empowers its clients to improve their online merchandising and ultimately increase revenue. The company has established a strong presence in the United States and serves a diverse clientele worldwide.

OPgames

Seed Round in 2021
OPgames is a suite of tools that enables game developers to provide mini esports experiences to their players through tournaments and PvP matchups with crypto as buy-in and pay-outs.

Rapid Circle

Acquisition in 2020
Rapid Circle B.V. is a cloud software company that specializes in facilitating the transition and management of Microsoft cloud-based applications and infrastructures. Founded in 2008 and headquartered in Amsterdam, with additional locations in Pune, India, and Melbourne, Australia, the company provides guidance and strategic support for various Microsoft services, including Office 365, Azure, Dynamics 365, Windows 10, and Xamarin. Rapid Circle assists organizations in their digital transformation by offering cloud workplace solutions and managed cloud services, which encompass data center migration, adoption and change management, and other cloud services. These offerings aim to enhance productivity, improve internal communication, and foster collaboration, ultimately preparing companies for ongoing changes in the digital landscape.

Van Vulpen

Private Equity Round in 2019
Van Vulpen B.V. is a Netherlands-based company established in 1966 that specializes in designing and constructing underground infrastructure networks. The company provides a range of contract construction services, including the installation and replacement of gas, electricity, and drinking water pipes, as well as the construction of wastewater management plants. Additionally, Van Vulpen is involved in making network adjustments for wind and solar power plants and maintaining gas supply pipelines. The company also offers engineering and consulting services with a focus on infrastructure and environmental projects, conducting evaluations and delivering reports to enhance project outcomes. Its team of planners and designers is dedicated to identifying risks and implementing safety measures to protect workers during the construction of underground networks.

InSites Consulting

Acquisition in 2018
InSites Consulting is a global marketing consultancy that specializes in online survey-based research. The company provides comprehensive services, including hosting, programming, and conducting surveys to gather insights for various clients. By leveraging innovative methodologies and technology, InSites Consulting aims to deliver valuable data and actionable insights to help organizations make informed decisions. Their focus on understanding consumer behavior and market trends enables them to support clients across diverse industries in enhancing their strategies and improving overall performance.

OFYR

Private Equity Round in 2018
OFYR is a Dutch company that specializes in outdoor cooking solutions, offering a distinctive cone-shaped cooking unit designed for high performance. This innovative product is complemented by a diverse array of supporting items, creating a comprehensive outdoor lifestyle concept. OFYR aims to enhance outdoor cooking experiences by providing functional and aesthetically pleasing products that cater to various culinary needs.

Ardena

Acquisition in 2017
Ardena Group is a provider of pharmaceutical development services, specializing in early-stage drug development and manufacturing for small to mid-sized biopharma companies. The company operates as a contract partner, offering a range of services that include pre-clinical and clinical drug development, drug research, manufacturing, and bio-analysis. By guiding clients through the drug discovery process, Ardena helps to create effective and compliant pharmaceutical products for clinical trials, supporting the advancement of innovative therapies in the biopharmaceutical sector.

Drillguide

Acquisition in 2017
Drillguide is the first guidance system that isn't affected by magnetic disturbances. Brownline provides high-precision drilling equipment and services to the horizontal directional drilling markets, mainly within the infrastructure and telecommunications sectors.

Habé Central Retourcentra

Private Equity Round in 2017
HABÉ Central Retirement Centers (= HB-cRc) is an organization active in cost-efficient and managed processing of 'RTI' within the logistics ranges of producer, wholesale and retail organizations. 'RTI' are Returnable / Reusable Transport Items , Product and / or Load Carriers for One-Time / Multiple Use, Moving the Product through the Logistics Chain, whether or not provided with a deposit to secure the return. Examples of RTI are: trays, fusts, crates, pallets, roller containers, boxes and barrels. The management and management of HB-cRc, combining more than 25 years of logistics & RTI experience. The bundling of these skills ensures valid and reliable processingof the return flows. This is done in accordance with the current ISO-9001 and HACCP-ISO-22000 quality requirements. The HABÉ organization is strong in providing logistics services based on a "no frills" drive and creating transparency . Through co-operation and merging individual return flows from producers and retail organizations, fixed costs are shared and mechanization of processing processes is possible. Therefore, we save on RTI return costs with both legs on the ground and consider the RTI processing process as a whole. Transparency in the associated cost models and contractsis therefore as obvious as skill and speed. HB-cRc therefore provides for reduction and risk management of logistic RTI costs. The working area of ​​HABÉ Central Retirement Centers simply focuses on the efficient processing of the product and cargo bearings that are returned by producers from the retail supply chain.

Aethon.nl

Acquisition in 2017
Aethon, founded in 2005 and based in Rijswijk, the Netherlands, operates as an employment agency focused on connecting students and young professionals with health institutions, municipalities, and housing associations. The company specializes in providing flexible staffing solutions, ensuring continuity, flexibility, and affordability for its clients. Aethon also emphasizes employee development by investing in targeted and practical training programs, aiming to create sustainable staffing solutions that address the specific needs of the organizations it serves.

Nefco BV

Acquisition in 2016
Nefco BV is a prominent distributor of liquefied petroleum gas (LPG) in the Netherlands, specializing in propane under the brand OK Gas and automotive fuel gas branded as Max autogas. Founded in 2004 and headquartered in Waardenburg, the company operates an LPG depot in Tiel and serves as a key player in the wholesale market. Nefco is recognized as one of Northwest Europe's largest retailers of LPG, supplying gas to petrol stations and end users, including major oil companies and gas suppliers. The company is committed to providing reliable service and maintaining high-quality standards for its diverse customer base.

Fri-Jado

Acquisition in 2014
Fri-Jado Euro Products is a manufacturer of high-quality commercial food-service equipment focused on the preparation, storage, and merchandising of hot and cold food products. The company develops and produces a range of equipment including rotisseries, heated and refrigerated deli merchandisers, bakery ovens, and combi steamers. By providing innovative solutions for food presentation and preservation, Fri-Jado enables various sectors such as supermarkets, convenience stores, fast-food restaurants, butchers, specialty stores, and petrol stations to enhance their product offerings and boost sales. Through its commitment to quality and performance, the company has established a strong reputation in the global food-service equipment market.

Optimum Group

Acquisition in 2014
Optimum Group B.V., founded in 1995 and based in Alkmaar, the Netherlands, is a collective of printing companies specializing in UV flexo and digital printing. The group focuses on self-adhesive labels and flexible packaging, catering to various industries including food, retail, cosmetics, pharmaceuticals, home and personal care, logistics, and chemicals. It is recognized as a leading player in the Benelux market, with member companies such as Etiket Nederland, Vila Etiketten, Specialised Printer Max. Aarts, W&R Etiketten, and Express Printing Business (EPB) in Belgium. Each company operates independently while maintaining close management collaboration within the group, ensuring continuity of service to their existing customer bases. Optimum Group's diverse offerings include wet-glue labels, multilayer labels, security seals, gummed tapes, foils, and more, serving both regional and international clients.

Customs Support Group

Acquisition in 2013
Customs Support operates as an independent customs brokerage firm, specializing in a wide array of customs services. The company addresses challenges related to fiscal representation and customs documentation, offering flexible support for various customs formalities. Its services include transiting, temporary import and export, fiscal representation, and the secondment of documents, among others. By providing comprehensive solutions tailored to the needs of its clients, Customs Support aims to streamline the customs process and enhance compliance with regulations.

Venko Groep

Acquisition in 2013
Venko Groep B.V., founded in 1975 and based in Hoogeveen, the Netherlands, specializes in fabric maintenance services throughout the life cycle of assets in both offshore and onshore sectors. The company offers a comprehensive range of services, including project management, coating inspections, surface preparation, and multi-disciplined personnel supply. Venko Groep is recognized for its expertise in high-quality preservation processes, including industrial paintworks, vessel preservation, and outdoor painting for high-voltage objects in the energy sector. The company prioritizes safety and integrity, ensuring that all operations meet stringent quality standards. Venko Groep operates through its divisions, Venko Offshore and Venko Outdoor, and maintains a strategic partnership with Brand Energy & Infrastructure Services Ltd. With a commitment to flexibility and customer partnership, Venko Groep serves a diverse clientele across various industries, including utilities, infrastructure, railway, construction, and oil and gas.

KP&T Projectadvies

Acquisition in 2012
KP&T Projectadvies offers recruitment services. KP&T focuses on recruitment in technical fields such as construction, civil engineering and information technology. Typical clients include technical companies and government agencies.

kleertjes.com

Acquisition in 2011
Kleertjes.com B.V. is an e-commerce company based in Doetinchem, Netherlands, specializing in the sale of branded clothing, shoes, and accessories for children. Founded in 2003, the company targets the mid and high-end segments of the children's wear market. By offering a curated selection of products, Kleertjes.com provides customers with a convenient and secure shopping experience for children's fashion at any time.

Axon Digital

Acquisition in 2010
Axon Digital Design B.V. is a leading provider of professional audio and video equipment primarily serving the broadcast industry. Headquartered in Gilze, the Netherlands, the company develops and manufactures a range of products, including modular interfacing and conversion systems like Synapse, compliance recording systems such as TRACS, and configuration software known as Cortex. In addition to these core offerings, Axon supplies routers, multi-viewers, live production video mixers, and intercom systems, catering to the diverse needs of broadcasters. The company has established a global presence with regional offices in several countries, including Brazil, China, Germany, Russia, the UAE, Singapore, the UK, and the United States, supported by a network of distributors and systems integrators. Since its founding in 1987, Axon has maintained a focus on customer support and product innovation, contributing to its reputation as a trusted partner for broadcasting solutions worldwide. As of May 2020, Axon operates as a subsidiary of EVS Broadcast Equipment SA.

Anteryon International

Venture Round in 2009
Anteryon International, established in 2006, specializes in designing, manufacturing, and distributing high-precision optical components. Its product portfolio includes a wide range of lenses, laser modules, optical mirrors, filters, and custom opto-mechatronic assemblies. Serving diverse sectors such as medical, telecom, defense, and semiconductor industries, the company leverages its patented replication and opto-mechanical assembly technology, along with deep domain expertise, to deliver standard and customer-specific optical solutions. Headquartered in Eindhoven, the Netherlands, Anteryon International operates as a subsidiary of China Wafer Level CSP Co., Ltd.

PBG Group B.V.

Acquisition in 2008
PBG Group B.V. diabetic supplies for patients.

BINZ GmbH & Co. KG

Acquisition in 2007
BINZ GmbH & Co. KG specializes in manufacturing high-quality custom vehicles designed for various purposes, including funeral, luxury, and commercial applications. The company offers a range of services that encompass vehicle development, extensions, updates to electrical and electronic systems, installation of body add-on components, and comprehensive paintwork and assembly. This allows clients to personalize their vehicles to meet specific requirements, ensuring that each vehicle reflects individual preferences and needs. Notably, BINZ is recognized for producing innovative special purpose automobiles, such as stretched limousines, further emphasizing its commitment to quality and customization in the automotive sector.

Veenhuis Machines

Acquisition in 2006
Veenhuis Machines B.V. is a manufacturer of agricultural machinery based in Raalte, the Netherlands, with a history dating back to 1938. The company specializes in developing and producing equipment for food harvesting and slurry applications. Its product range includes silage trailers, forage wagons, transfer wagons, and silage spreaders for food harvesting, as well as slurry injectors, tanks, slurry mixers, and supply hose systems for slurry application. Veenhuis Machines also offers carrier hook-arm systems. The company distributes its products through a network of dealers across the Netherlands, Belgium, Luxembourg, Germany, and England, and has importers in several other European countries, including the Czech Republic, Hungary, Lithuania, Norway, and Russia.
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