Mentha Capital

Mentha Capital is an independent investment firm established in 2007 and based in Amsterdam, Netherlands. The firm specializes in private equity investments, focusing on smaller midsize companies within the Benelux region. It engages in various investment strategies, including buyouts, management buyouts, buy-ins, spin-offs, and growth capital. Mentha Capital targets a diverse range of sectors, such as business-to-consumer, retail, business-to-business, commercial services, healthcare, manufacturing, e-commerce, technology, media, telecommunications, and industrials. The firm is supported by a select group of committed investors who share a long-term investment perspective.

Edo Pfennings

Partner

22 past transactions

Bright River

Private Equity Round in 2021
Bright River is a leading provider of visual content solutions for e-commerce brands and retailers, enhancing online shopping experiences to boost customer conversion rates and reduce product returns. Established in 2006 and headquartered in Haarlem, the Netherlands, with an additional office in New York, the company employs 750 staff across five locations worldwide. Bright River offers a comprehensive suite of services including visual product content analysis, optimization, product video editing, post-production image editing, and CGI creation. These services enable clients to create engaging visual content that strengthens brand messaging and supports rapid product turnover. By delivering flexible and integrated solutions, Bright River helps brands and retailers increase revenue through effective online merchandising.

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. specializes in designing and constructing underground infrastructure networks for various sectors, including safety, water, energy, heat, and data. Founded in 1966 and based in Gorinchem, the Netherlands, the company offers contract construction services that encompass the installation and replacement of gas, electricity, and drinking water pipes, as well as the construction of wastewater management plants and adjustments to wind and solar power networks. Additionally, Van Vulpen provides engineering and consulting services, focusing on infrastructure and environmental projects, where it conducts evaluations and delivers detailed reports. The company prioritizes safety by constantly assessing risks and implementing measures to protect workers during underground network construction and maintenance.

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, based in the Netherlands, specializes in high-performance outdoor cooking units and related products. The company's signature offering is a unique cone-shaped cooking unit that is designed to enhance the outdoor cooking experience. This product, combined with a diverse array of supporting items, creates a comprehensive outdoor lifestyle concept. OFYR aims to provide consumers with an innovative and enjoyable way to cook outdoors, emphasizing both functionality and aesthetic appeal.

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 and car fuel gas. Founded in 2004 and based in Waardenburg, Nefco operates an LPG depot in Tiel and serves as a key player in the wholesale distribution of LPG across Northwest Europe. The company supplies gas to petrol stations and directly to end users, ensuring a reliable service for a diverse customer base that includes major oil companies and gas suppliers. With a commitment to quality and service, Nefco supports thousands of clients daily in their LPG needs.

Fri-Jado

Acquisition in 2014
Fri-Jado Euro Products is a manufacturer of high-quality commercial food-service equipment designed for the preparation, storage, and merchandising of hot and cold food products. The company produces a range of equipment, including rotisseries, deli merchandisers, bakery ovens, and combi steamers. These products are aimed at enhancing food presentation and preservation, catering to various businesses such as supermarkets, convenience stores, fast-food restaurants, butchers, specialty shops, and petrol stations. By providing effective solutions for food preparation and display, Fri-Jado helps its clients optimize sales and improve customer experience.

Optimum Group

Acquisition in 2014
A diverse group of printing companies, specialized in the field of UV flexo and digital printing, together they form a strong top three player in the Benelux self-adhesive label and flexible packaging market. The group primarily serves customers in the food, retail, cosmetics, pharmaceuticals, home & personal care, logistics and chemical industries. Optimum Group™ Member companies are: Etiket Nederland, Vila Etiketten, Specialised Printer Max. Aarts, W&R Etiketten and Express Printing Business (EPB) in Belgium. The management of the companies will continue to be closely involved, and will jointly be responsible for the group which has been formed. The company names Etiket Nederland, Vila Etiketten, Specialised Printer Max. Aarts, W&R Etiketten and EPB will continue to be used. The companies will continue to operate independently, and will remain based at their current locations. The services of Etiket Nederland, Vila Etiketten, Specialised Printer Max. Aarts, W&R Etiketten and EPB to their existing customer base, will be fully guaranteed.

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 for both offshore and onshore sectors. The company offers a comprehensive range of services, including project management, surface preparation, coating applications, and inspections for various industries such as oil and gas, utilities, and infrastructure. Venko Groep also provides outdoor services like high-voltage painting and vessel preservation, aimed at extending the lifespan of assets. Known for its commitment to safety and integrity, Venko Groep emphasizes high-quality processes and flexibility in staffing and equipment to meet customer needs. The company operates under the strategic partnership with Brand Energy & Infrastructure Services Ltd., enhancing its capabilities in the market.

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, the 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, providing a curated selection of products designed to meet the needs of parents seeking quality apparel for their children. Kleertjes.com offers a safe and efficient online shopping experience, allowing customers to browse and purchase items conveniently 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, based in Eindhoven, the Netherlands, is a manufacturer specializing in optical precision elements and miniature optical modules. Originally a business unit of Philips, it became an independent entity in 2006. The company focuses on providing standard and customized optical components, utilizing patented replication and opto-mechanical assembly technologies, alongside expertise in coatings, lithography, and precision glass. Anteryon serves diverse markets, including industrial, imaging and display, and data and telecom, delivering solutions that encompass lenses, laser modules, fiber collimators, and integrated lens stacks. Its products are integral to various applications, such as automotive safety systems, optical data storage, and multiview displays. Notably, Anteryon's innovations include WaferOptics® technology, facilitating advanced stacking techniques at the wafer level. The company is well-positioned for growth in the mobile phone camera module sector, catering to an expanding global demand for camera-enabled devices.

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. specializes in the development and manufacturing of agricultural machinery, focusing on food harvesting and slurry applications. Established in 1938 and based in Raalte, the Netherlands, the company offers a diverse range of products, including silage trailers, forage wagons, transfer wagons, silage spreaders, slurry injectors, tanks, slurry mixers, and supply hose systems. Veenhuis distributes its machinery through a network of dealers across the Netherlands, Belgium, Luxembourg, Germany, and England, along with importers in countries such as the Czech Republic, Hungary, Lithuania, Norway, and Russia.
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