PRESS RELEASE
Paris, October 21, 2025
GENEO Capital Entrepreneur acquires a stake in DAP to support the consolidation of the Belgian insurance brokerage sector.
GENEO Capital Entrepreneur announces a minority investment in DAP, an independent broker based in Leuze and a key player in the Belgian market. On this occasion, the Degauquier family, which retains majority control, has also opened up part of the capital to its employees. This operation, carried out through a capital increase, aims to finance an active growth strategy and support the group's development.
Managed by Bernard Degauquier since 1985, DAP has developed through a combination of organic and external growth, reinforced since the arrival of Christophe, who is in charge of the 3rdth generation since 2018, breathing new life into a robust, regenerative family business model. Today, the Group employs over 120 people in 11 branches. In a consolidating Belgian brokerage market, DAP enjoys a strong reputation with insurers present in Belgium and is positioned as a key player in the Belgian landscape.
A clear ambition: structure, digitize and grow
With the support of GENEO and the implementation of its Growth Book, DAP intends to strengthen its model around five priorities:
- Succession and continuity: Continue the handover from Bernard to Christophe Degauquier;
- External growth To support the sourcing, structuring and integration of future acquisitions;
- Structuring and governance Support the deployment of new performance management tools;
- Digitization Digitalization: accelerate the digitalization of customer relations;
- Impact & commitment DAP Solidarity: reinforcing the DAP Solidarity initiative led by Christophe, which donates a portion of insurance premiums to local associations in order to strengthen its ESG strategies and obtain B Corp and UNITAR sustainability certifications.
As part of its 10-year strategic plan, DAP aims to become a leading independent insurance broker in Belgium. Its strategy is based on selective external growth, to bring together brokers who share its values of independence and proximity, in a market dominated by large Flemish and international groups.
A partner to accelerate your transformation
In addition to the capital contribution, the partnership with GENEO will enable DAP to benefit from tailor-made operational support. The group will be able to draw on GENEO's experience in structuring, digitizing and managing high-impact projects to consolidate its foundations and pursue its development over the long term. This alliance strengthens DAP's credibility in a rapidly consolidating market, and opens up new prospects for responsible growth.
" With GENEO, we are giving ourselves the means to continue our consolidation trajectory while strengthening our organization and our impact. Our ambition is to build a solid, digitalized and committed group at the service of our customers and employees." explains Bernard Degauquier, Chairman of DAP.
" We're very proud to support Bernard, Christophe and their teams with our Carnet de croissance. DAP is a perfect example of what we're looking for: an entrepreneurial player, rooted in its local area, with a resilient growth model and a strong desire to generate a positive impact. Our role will be to support it through structuring, digital, external growth and impact, to make it a leading broker in Belgium.", adds Marc Dupuy, Managing Partner at GENEO Capital Entrepreneur.
" The PwC Corporate Finance teams are very proud to have been involved in this transaction. We are delighted to have played a key role in bringing together the management teams of Degauquier and Partners and GENEO. These two groups share the same values and the same ambition for the development of DAP, which will thus be able to pursue its growth strategy and consolidate its position as leader in the independent broker market in Wallonia. This transaction testifies to our expertise in the field of financial services, particularly insurance brokerage, in the context of international transactions. ", adds Antoine Grenier, Partner, Head of PwC Corporate Finance.
About DAP
DAP (Degauquier & Partners) is an independent Belgian insurance, credit and investment broker with 11 offices in Brussels and Wallonia. With more than 120 specialized staff, it helps over 40,000 customers to take out tailor-made contracts - for individuals, SMEs and a wide range of professional sectors. Renowned for its service based on advice, independence and social commitment, DAP is developing DAP Solidarity, an initiative that enables a portion of premiums to be donated on a recurring basis to local associations at no additional cost to the customer.
About GENEO Capital Entrepreneur
GENEO Capital Entrepreneur's raison d'être is to provide the real economy with positive finance that reconciles performance and meaning.
Designed to unlock the value-creation, job-creation and impact-creation potential of SMEs and ETIs, GENEO Capital Entrepreneur has nearly 740 million euros under management. In particular, it manages the "evergreen" investment company GENEO Capital, whose capital is majority-owned by families and entrepreneurs. GENEO provides agile capital that adapts to the pace of each company, bringing responsiveness and flexibility.
As a business partner and mission-driven company, GENEO mobilizes to support the execution of structuring, growth and transformation projects through a "Carnet de croissance" tailored to each company and supported by its teams, including specialized "business partners" (external growth, liability structuring, operational and financial performance, positive impact, digital and innovation) and a platform of over 70 independent experts. Its community of over 260 families and entrepreneurs also offers a unique opportunity to share experiences and build a business network unheard of in France and Belgium.
Fascinated by those who make, create and want to move the lines, the Geneo team's sole ambition is to take each entrepreneur's ambition to the highest level.
Find out more at www.geneocapitalentrepreneur.com, LinkedIn, YouTube
About PwC Corporate Finance
Leader in mergers and acquisitions advisory services for the small and mid-market segmentPwC Corporate Finance has 35 experienced professionals in France, including 5 Partners, and handles over 40 deals a year. They also draw on an international network of 2,500 investment bankers in 60 countries worldwide. Recognized for its independence and expertise, PwC Corporate Finance offers a tailor-made advisory approach to entrepreneurs, shareholding managers, family groups and investment funds in their high net worth strategies.
PwC Corporate Finance stands out for its cutting-edge sector expertise in financial services, healthcare, industry, energy, food&beverage and other sectors. food&beverage and consumer goods. Thanks to the complementary expertise of PwC's Deals teams (transaction services, PwC Société d'Avocats, Strategy&, valuation and financial modeling, etc.), PwC Corporate Finance is able to offer integrated, comprehensive support at every key stage of the M&A process.
| Investors GENEO capital entrepreneur
Investor tips Financial auditors : Frédéric Durand, Arnaud Delachaux (COFIGEX) Legal, tax and social auditors : Damien Conem, Claire Contreras, Téo Lizin (Liedekerke) Legal counsel : Damien Conem, Claire Contreras, Téo Lizin (Liedekerke) |
Company DAP
Company tips Legal advice : Anne-Charlotte Lelièvre (BDO) Investment banking: Antoine Grenier, Adrien d'Alincourt, Benjamin Castel, Eve Przednowed (PwC Corporate Finance) |
Press contact
For GENEO Capital Entrepreneur : Hugues de Tournemire - 06 67 07 22 33 - hdetournemire@bcadvisory.fr
