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Schouten Investments, the Dutch single-family office of the Schouten family, is expanding its commitment to the SF ecosystem, making ETA an increasingly important part of its investment strategy. The family office has already formally committed to more than 10 SFs, including 3 acquisitions. Over the coming year, it aims to back approximately 30 entrepreneurs at the search equity stage and follow the large majority of them through to their acquisitions.
The family office was built on the entrepreneurial and investment experience of its founder, Maasbert Schouten, who grew AFAB Holding from a sole proprietorship into a company with approximately 1,000 employees and more than €50M in EBITDA at its peak. But he also saw the other side of the medal during the financial crisis. After eventually selling another venture, he turned to private markets, laying the foundations for the family’s investment activities.
Quint Schouten, a second-generation member of the family office, joined the business after several years in commercial roles across SaaS, automotive and marketing, and is now leading its SF activity. His brother recently joined the family office after more than four years in private equity, bringing transaction experience that closely matches the types of acquisitions pursued by searchers.
Schouten Investments has built a portfolio of more than 100 funds and over 45 co-investments. Its growing exposure to search funds reflects the family’s broader interest in the lower end of the private markets, particularly businesses generating approximately €1–5M in EBITDA.
Quint first encountered the SF model while writing his master’s thesis, at a time when the first Dutch searchers were emerging. The model immediately appealed to him, combining entrepreneurship, investment and the opportunity to work closely with business owners. Having already invested in companies of a similar size, the family office believes it can bring relevant experience to searchers navigating their first acquisitions.
“As investors, we also like being closer to the operator than we are in many of our other investments, and we truly think we have something to add.”
The family office is also attracted to the role searchers can play in addressing business succession. In many European markets, entrepreneurs face difficulties finding suitable successors, and a searcher-led acquisition can offer a way to preserve a company’s identity and legacy while transferring ownership to a new generation.
The Netherlands remains Schouten Investments’ most familiar market, but the family office is rapidly expanding across Western and Southern Europe. Its preferred targets are traditional, but growing service-oriented businesses with established operations and recurring or resilient revenues. Examples include cleaning companies, real estate maintenance businesses, wholesalers, and specialized companies operating in very specific niches, such as industrial fire protection or perimeter security.
Although the family office is open to a broad range of sectors, it recognizes that some businesses require specialist expertise that may not be suitable for a first-time CEO. Its experience investing alongside general partners in software, biotech and healthcare provides additional perspective on the operational complexity of different industries.
Schouten Investments backs solo and duo searchers, as well as traditional and self-funded searches, and is also prepared to participate in equity gaps. It typically seeks to hold between 7.5% and 10% of a company’s cap table, with its investment built through different ticket sizes. When it supports a searcher during the search phase, its intention is generally to invest in the subsequent acquisition as well, as we want to play a role in finding the best deal.
The family office has already formally committed to a group of searchers operating across several European markets. Its portfolio includes 3 acquisitions: Orangeland Capital, which has completed the acquisitions of Jetmail and Eclipse Group; Partenea, which acquired MisterPlan; and Fonteyn Bedrijfsopvolging, which acquired Van Beukering & Borsboom. Other formally backed searchers include Walco, Nortem Capital, Kryne Opvolging, PORAST Bedrijfsopvolging, Mont Blanc Succession Capital, South Haven Capital, SMEVentures (Amit Saran), and Leon Ventures.
Schouten Investments believes its greatest contribution comes at the transaction stage. Through its investments and relationships with fund managers, the family office has indirect exposure to more than 500 companies across Europe, many of them operating in the same market segment as SF targets, and represent the same sorts of deals. This provides insight into valuations, deal structures, due diligence and the risks associated with acquisitions.
The team also aims to remain involved after the initial transaction, including in add-on acquisitions and the development of an equity story ahead of a potential exit.
“We are pragmatic, entrepreneurial investors who like to move fast, which usually shows in how quickly we come back with feedback or a decision—something we value highly in a searcher too, and something we factor into our own evaluation of them.”
For the Schouten family, entrepreneurial spirit remains a central consideration when evaluating searchers. Rather than relying on a rigid checklist, the family office looks for individuals capable of leading traditional businesses and navigating the challenges of ownership.
“Inside the kind of traditional organization a searcher usually acquires, you do not need much flair. You need grit, and you need to have your affairs in good order.”
With its expanding portfolio and plans to support a new generation of searchers, Schouten Investments is continuing to build its presence in the European ETA ecosystem.
