Frank De Palmenaer: Founder of ABO Group with a net worth of 42 million euros

Frank De Palmenaer

Frank De Palmenaer, notable for his personal fortune estimated at around 42 million euros, is the founder of ABO Group, a Ghent-based company specializing in environmental technologies. With expertise in planology acquired in Ghent, he launched his consultancy in the 1980s and in 1986 established the pioneering Maaltecenter. among Belgium's business parksforging a strong link with the environmental sector.

From 1995, following the adoption of the Soil Protection Decree by the Flemish government, De Palmenaer strategically positioned itself to specialize in the following areas in Flemish environmental regulations. He then set his sights on expanding his business by acquiring assets in Belgium, France and the Netherlands. Between 2001 and 2006, De Palmenaer bought out several of its co-investors, including the GIMVthe Vlaamse Milieuholding and the shares of Trust Capital Partners belonging to Christian Dumolin.

De Palmenaer has grown to become the only design office Belgian environmental company with over 300 employees. In 2013, all the company's departments were grouped together. under the ABO-Group bannerThe company has five main business sectors: soil (market leader in Belgium), geotechnics, energy, environment and waste management, with the first two accounting for 70 to 80 % of sales.

In 2014, ABO-Group took over Thenergo, a financially troubled energy company, not for its core business but to use its stock market listing. Through a reverse takeover, ABO-Group obtained a stock market listing, strengthening its market position. Frank De Palmenaer has assets of over 40 million euros.