pgb-Group partners with Waterland Private Equity to accelerate its international growth

Melle, 11 March 2025 – pgb-Group, the market leader in fastening materials in Belgium and a fast-growing player in Poland, the Netherlands, and France, has entered into a strategic partnership with Waterland Private Equity. This collaboration marks a new step in pgb’s international growth strategy, with the ambition of becoming a European market leader.

This partnership signifies a milestone in the history of pgb, a family-owned company that has grown steadily since its founding in 1956. After nearly 70 years of building a successful business, Luc and Marc Pennoit (second generation) are handing over the reins to the third generation. Under the leadership of CEO Frederik Pennoit, together with Johannes Heye and Vincent Pennoit, the company will continue to focus on international expansion and innovation.

Luc Pennoit: “We have grown pgb into the market leader in Belgium, with a strong presence in the Netherlands and France. Now is the time to take this growth story even further. With the support of Waterland, the third generation is ready to elevate pgb to the next level and become a European market leader.”

A Solid Foundation for Continued Growth
In recent years, pgb has invested heavily in automation, digitalization, and capacity expansion. In Melle, where the company’s headquarters and distribution center are located, there is space for 20,000 pallet locations, including 13,500 in an advanced fully automated pallet warehouse, a miniload picking system with 40,000 bin locations, and a new shuttle system with an additional 40,000 locations. Additionally, a new ERP system was implemented to further optimize business processes and lay the groundwork for future growth.

With a turnover exceeding €80 million and a strong market position, pgb is now taking the next step in its international expansion. The company sells its products in more than 50 countries and has sales offices in Belgium, France, and Poland. pgb also has a sourcing office in Shanghai, which oversees a broad and flexible global supplier network. With its own anchoring production site in Poland, pgb maintains significant control over its production chain, greatly improving delivery reliability.

Frederik Pennoit, CEO of pgb: “This partnership with Waterland allows us to accelerate our growth, both organically and through strategic acquisitions. Our focus is on expanding our presence in Europe, strengthening our services and automation processes, and further enhancing control over our production chain. With Waterland’s support, we are ready to take the next step in our growth journey.”

Growth Strategy Focused on International Expansion
pgb’s new growth strategy is centered on further international expansion through both organic growth and acquisitions in strategically important markets. In the coming years, the company will continue to invest significantly in capacity expansion, automation, and digitalization to better serve its customers and strengthen its strong position in Europe.

About pgb-Group
pgb-Group is a family-owned company and a leading total supplier of fastening materials. With over 80,000 product references, the company serves both the professional construction market and the DIY sector in Europe. The company has offices in Belgium, France, Poland, and Hong Kong and operates its own production site in Poland.
www.pgb-europe.com

Press Contact:
Laurence Van Doosselaere – vandoosselaere@waterland.be | +32 473 88 05 21