VADO Beheer

Investment and M&A decisions are managed by Martijn Utermark, who holds the title Manager Investments and M&A. He reports to CEO Aart Fortanier, who has led the office since 2015. The senior team also includes CFO Ron van Valburg, reflecting a compact leadership structure typical of a single-family office focused on direct holdings.

VADO Beheer was created with the proceeds generated when the Van Doorne family sold the DAF companies. DAF, founded in Eindhoven by brothers Hub and Wim van Doorne, was the family's industrial legacy. The office maintains ties to that heritage through assets such as the DAF Museum Collection, though it no longer holds an ownership stake in the truck manufacturer, which is now a subsidiary of Paccar.

The office operates as a direct investor, acquiring and holding private operating companies and real estate. Its disclosed portfolio consists entirely of wholly-owned businesses such as Jongkind Painting and industrial properties. Membership in the NVP, the Dutch VC and PE association, suggests engagement with the broader investment community, but the office's own activity appears overwhelmingly direct.

The wealth originates from the Van Doorne family's founding and eventual sale of DAF, the Dutch automotive and truck manufacturer. Hub van Doorne co-founded the company in 1928, and it grew into one of the Netherlands' most significant industrial enterprises. The family office preserves that industrial legacy in a concentrated, locally-focused investment portfolio.

Yes, the family operates Stichting Hub van Doorne, a foundation named for the DAF co-founder. Philanthropic assets are legally separated from the investment portfolio. The office's commercial holdings — operating companies and real estate — sit within the VADO Beheer corporate structure, while the foundation pursues independent charitable activities.

There is no public record of VADO Beheer engaging in co-investments alongside external general partners. Its observed behavior — direct, wholly-owned operating companies and properties — suggests a preference for outright control rather than minority or club-deal positions. The NVP membership may facilitate deal origination, but execution appears to remain independent.

The portfolio leans heavily into industrial services and real estate. Confirmed holdings include an industrial-coating company, a warehouse, and commercial premises. No public evidence exists of allocation to technology startups, financial services, or consumer-facing businesses. The office appears to pursue the tangible, asset-heavy sectors familiar from its DAF heritage.