Magnum Heating Group is a successful fast growing independent Dutch company with 26 years of expertise in development, production, sales, after sales and support of all kinds of electric and water based underfloor heating systems.

Moore DRV Corporate Finance acted as sole advisor of Magnum Heating Group to sell a majority share to Smile Invest. Smile Invest is a private equity company that invests in ambitious growth companies.

Sale majority share Magnum Heating Group to Smile Invest

Magnum Heating Group was founded in 1992 by Gio Cleophas. In thrirty years time the Dutch Company has been developed to a successful, fast growing market leader in Europe as a designer, producer and supplier of all kinds of electric and water based underfloor heating systems, together with related products for residential, industrial and commercial applications. Magnum Heating Group realizes a ‘healthy profit-margin’ with seventy employees.

From her new office and distribution centre in Tholen, Magnum Heating Group adapts to market-opportunities, like the energy-transition and sustainability-trends in the building sector. The participation of Smile Invest enables the further (international) growth, where mainly Belgium, Germany and Scandinavia are target-countries. Hereby, focus is on development and sale of innovative products for residential renovation and new construction. Smile Invest expects to double the volume within five years. Current management and Gio Cleophas also participate in Magnum Heating Group. Gio Cleophas retired from the executive position.

Smile Invest is a relatively young Belgian-Dutch private equity company running € 350 mln. gathered by a group of fourty fortunate business people and family-business entrepreneurs in Belgium and the Netherlands.

The transaction is supported by Marco du Pré and Liane Keijzer-Okhuijsen from DRV.


Written by:

Adviseur corporate finance Martin de Jong

Martin de Jong

Partner and advisor Crossminds