Novy

Business partners

Lannoy Family, BNP Paribas Private Equity, Korys

Equity stake

31%

Entry

2010

Website

https://www.novy.be

Novy has a rich history and with a lifespan of over 110 years, Novy remains the Belgian specialist and Benelux market leader in cooker hoods and hobs. Novy is also active in most European countries. Years of craftsmanship and persistent innovation are the absolute drivers of the company.

From the beginning, the highest standards were set in terms of design, ease of use, durability, and of course silence. The combination of the downdraft ventilation with optimised noise reduction ensures a very efficient, yet silent, extraction. In all these years, Novy has become a leading brand in kitchen ventilation. Novy offers an assortment that offers a solution for every kitchen situation.

Our contribution

In 2005, the Lannoy founding family sought out external capital in order to offer more structure and ambition for the further growth of the company. The family retained a minority of the shares. After the entry of the first financial investor, Sofindev entered in 2010, followed by Korys in 2016, the overarching holding company of the Colruyt families. In July 2021, the shareholders of Novy reached an agreement for the sale of 100% of the shares to The Middleby Corporation, an American publicly traded company specialised in commercial and residential kitchen appliances.

Novy has completed a very strong growth trajectory, thanks in part to internationalisation and a farreaching focus on the quality of its products and services. Under the wings of Middleby, Novy will be able to further expand its premium brand. Within the Middleby family, Novy will be able to benefit from the American group's international network and innovative know-how to continue its growth. In 2020 Novy generated around €80 million in turnover.

Eric van Droogenbroeck, Managing Partner of Sofindev: “We are very proud that we have been able to support Novy in its successful growth trajectory over the past decade. Under the impulse of management, Novy has succeeded in conquering new markets thanks to a focus on innovation and service. With the entry of Middleby, Novy is ready to accelerate its further development as the market reference for premium cooker hoods and hobs. We thank the whole team and wish them every success."