In October 2020, Belgian newspaper DE TIJD reported that two families behind the TVH Lift Truck Group will split up the family business.  The Vanhalst family will own 100 percent of the Mateco machinery business compared to 50% so far. 60 percent of the TVH Parts division ends up with the Thermote family.  The remaining shares of 40% will be open to an external partner.

The article also said that their sources stated that the first phase of this ownership reshuffle is over saying that Pascal Vanhalst now owns Mateco and sold five percent in TVH Parts to the two Thermote sisters (Ann and Els). They now own 60 percent of the shares.

With that said, they are searching for an external partner for the remaining 40 percent.

Last week, the newspaper reported that one thing is clear, they are not interested in a private equity firm that only steps in for a few years.  Their interest would be in international asset managers, pension funds, or large families that would be eligible for the remaining 40% of the shares available.

Based on an unconfirmed estimate, this could be an investment deal worth nine zeros.

The TVH Equipment nv, the Belgian branch of Mateco, where it all started 50 years ago, remains in the hands of both families through a joint venture.