Delen Private Bank continues its growth strategy in the Netherlands with a new acquisition
- 19 march 2024
Delen Private Bank has reached an agreement with the shareholders of Box Consultants to acquire 100% of the shares.
Founded in 1976, Box Consultants has grown from a multi-client family office into an independent wealth management company in the Eindhoven region (Waalre). This acquisition is part of Delen Private Bank's growth strategy in the Netherlands. This strategy aims to increase its importance in the Dutch private banking and asset management market. With this acquisition, Delen Private Bank Nederland will more than double its assets under management.
Delen Private Bank has been active in the Netherlands since acquiring Oyens & Van Eeghen in 2016. It subsequently acquired Nobel Vermogensbeheer in 2019, Groenstate Vermogensbeheer in 2023 and Puur Beleggen earlier this year. The acquisition of Box marks Delen Private Bank's fifth acquisition in the Netherlands in eight years.
Michel Buysschaert, CEO Delen Private Bank : "Box Consultants has developed a very solid business that fits in very well with our (investment) philosophy, our service offering and our client portfolio. The Box team is made up of high-performing professionals and we are very pleased that they are all joining our organisation. Since the end of 2015, the number of accounts under management has quadrupled and assets under management have increased fivefold. The acquisition of Box Consultants significantly strengthens our market position. As a result, the Netherlands is increasingly becoming a second home market for us, and continued growth remains a strategic priority for the Group."
Remy Mourits, Partner at Box Consultants : “We look forward to continuing to develop our future projects under the Delen banner. As our culture and services are very similar, we are convinced that our relationship will benefit greatly from this integration. Having been independent for over four decades, this is an important new chapter for us. Our customers will retain their usual contact person and we will continue to offer the same service. We see this as a natural evolution and look forward to the future with great enthusiasm. We will maintain and expand our office in Eindhoven."
The transaction is expected to be finalised later this year, following the usual approvals from supervisory authorities.
Last year, Delen Private Bank won the Gouden Stier for 'Best Private Bank of the Year' in the Netherlands. The bank is nominated again this year for the same award.
For more information :
www.delen.bank/nl-nl en www.boxconsultants.com
Media contact: caroline.dewolf@delen.bank
About Delen Private Bank
Delen Private Bank is an asset manager specialised in discretionary wealth management and estate planning. Its mission is to manage and plan its clients’ assets in an active and thoughtful manner, aiming for balanced growth and a smooth transition to future generations. Delen’s philosophy is based on personal contact, a long-term vision and a sustainable approach. Two stable shareholders constitute the bank’s solid base: the Delen family and Ackermans & van Haaren holding. The Delen Group is active in five countries and has around 940 employees. As at 31/12/2023, assets under management amounted to 54,76 billion euros (consolidated figure Delen Group).
About Box Consultants
Box Consultants is an internationally active specialist in the field of integrated asset guidance for private individuals, families and institutional investors. Since the start of its services in 1976, Box Consultants has grown into one of the largest independent asset managers in the Netherlands. Box's activities consist of asset management, reporting and performance measurement and wealth management. Box's objective is to protect and grow our clients' assets across generations. As a financial institution, Box is supervised by the Dutch Authority for Financial Markets (AFM) and De Nederlandsche Bank (DNB).