Novy 2 | Sofindev
Business partners
Lannoy Family, BNP Paribas Private Equity, Korys
Equity stake
31%
Entry
2010
Novy Zoom | Sofindev

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. First BNP Paribas Fortis Private Equity entered. Sofindev followed in 2010. The family retained a minority of the shares. Furthermore, Korys, the overarching holding company of the Colruyt families, and some members of the management are part of the shareholder structure.

The option of allowing external shareholders enter into the capital was preferred to a scenario in which the fourth generation would take the helm. An Lannoy explains why. "A scenario as such is not self-evident because you run into discussions about who may and who can do it in the family. Besides, we didn't find it an easy situation. We would have inactive family members, who would be further away from the company, while some family members would be operationally active, but who would bear all the responsibility. As a family, we felt more comfortable with a position as a minority shareholder."

The decision led to growth. Novy today specialises in premium cooker hoods and thus is the market leader in Belgium. It employs 210 people in Kuurne and achieved a consolidated turnover of 75 MEUR in 2019.

Novy 5 | Sofindev

“What certainly speaks to Sofindev’s advantage, is that it is a very solid shareholder, who in turn has very good reference shareholders, and also the competence of someone at Sofindev who knows Novy very well and is still the chairman of our board of directors to this day.”

Carlos Wanzeele
CEO Novy
 Novy  | Sofindev

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SOFINDEV Corporate At Work 018 | Sofindev