pgb-Group accelerates growth ambitions with Waterland as strategic partner

12/03/2025 - Press release: pgb-Group accelerates growth ambitions with Waterland as strategic partner

pgb-Group, market leader in fasteners in Belgium and a fast-growing player in Poland, the Netherlands and France, is entering into a strategic partnership with Waterland Private Equity. Through this partnership, pgb is taking another step in its international growth strategy, with the ambition to grow into a European market leader.

This partnership marks a milestone in the history of pgb, a family-owned company that has has grown  steadily since its foundation in 1956. After almost 70 years of building a successful company, Luc and Marc Pennoit (second generation) are handing over the baton to the third generation. Led by CEO Frederik Pennoit, together with Johannes Heye and Vincent Pennoit, the company will continue to work on international expansion and innovation.

Luc Pennoit: ‘We have built pgb into a market leader in Belgium, with a solid position in the  Netherlands, Poland and France. It is now time to let the growth story continue to flourish. With the support of Waterland, the third generation is ready to take pgb to the next level and grow into grow into a European market leader.’

A solid foundation for further growth
pgb has invested heavily in automation, digitalisation and capacity expansion. In Melle, where the head office and distribution centre are located, there is room for 20 000 pallet locations, 13 500 of which are provided by an advanced fully automated pallet warehouse, a miniload picking system with 40 000 bin locations and a new shuttle system with another 40 000 locations . In addition, a new ERP system was implemented to further optimise the further optimise business processes and lay the foundations for future growth..

With revenues of more than €80 million and a strong market position, pgb is taking the next step in its international expansion. pgb sells its products in more than 50 countries and has its own sales offices in Belgium, France and Poland. The company also has a sourcing office in Shanghai, which helps watch over an extensive and flexible global supplier network. With its own anchoring production site in Poland, pgb also has a high degree of control over the production chain, which significantly increases security of supply.

Frederik Pennoit, CEO of pgb: ‘This cooperation with Waterland allows us to grow faster grow, both  organically and through strategic acquisitions. Our focus is on further expanding our presence in  Europe, strengthening our services and automation processes and further increasing control over the production chain. Thanks to the support of Waterland, we are ready to take the next step in our expansion story.’

Growth strategy focused on international expansion
pgb's new growth strategy focuses on further international expansion through both organic growth and acquisitions in strategically interesting markets. In the coming years, the company will continue to invest heavily in capacity expansion, automation and digitalisation in order to serve customers even  better and further build on its strong position in Europe.

About pgb-Group (www.pgb-europe.com)
pgb-Group is a family-owned and leading total supplier of fasteners. With more than 80,000 article references, the company serves both the professional construction market and the DIY sector in  Europe. The company has branches in Belgium, France, Poland and Shanghai, China and has its own production site in Poland.

About Waterland (www.waterlandpe.com)
Waterland is an independent European investment company that supports entrepreneurs support entrepreneurs in realising their growth ambitions. Waterland currently manages more than €14 billion euros in investment commitments. Since its foundation in 1999, Waterland has grown to more than 200 professionals, operating from 13 offices in 11 countries. Waterland is an authorised Alternative Investment Fund Manager (AIFM) and is supervised by the Authority Financial Markets (AFM).