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With a background of more than 12 years of experience at Total and Deloitte, Michaël Vandelaer joined Wad Capital as a CEO-in-residence in Oct 2024. In less than 15 months, he has successfully acquired HBI Tyres & Wheels in The Netherlands. The acquisition was supported by Wad Capital and the investment fund C for growth (C4G). Leendert van ‘t Hof, the vendor, will remain involved as an active board member and minority shareholder. Acquisition debt was financed by ABN Amro Bank.
Founded in 1981 by Leen van ‘t Hof in Fijnaart, the company’s activities were taken over by his son Leendert in 2026 and moved to new premises in Tholen in 2013 to further expand its businesses, operating from a 12,000 m² facility. HBI fully vertically integrated, from R&D and design to manufacturing and assembly, serving the agricultural, earthmoving, and industrial machinery sectors worldwide. It produces tyres and wheels under two strong brands: Bandenmarkt (retread tyres, contributing to circularity since 1981) and Delcora (new tyres). The company supplies many major Tier-1 OEM customers in Europe and beyond.
