{"id":561,"date":"2024-03-19T10:55:00","date_gmt":"2024-03-19T09:55:00","guid":{"rendered":"https:\/\/lama-fortune.com\/?p=561"},"modified":"2025-02-13T09:45:27","modified_gmt":"2025-02-13T08:45:27","slug":"families-thermote-vanhalst","status":"publish","type":"post","link":"https:\/\/old.lama-fortune.com\/en\/familles-thermote-vanhalst\/","title":{"rendered":"Thermote &amp; Vanhalst TVH families: \u20ac1.5 billion Empire in Global Handling"},"content":{"rendered":"<h2 class=\"wp-block-heading\">Thermote &amp; Vanhalst<\/h2>\n\n\n\n<p><strong>TVH<\/strong>also known as Thermote &amp; Vanhalst, is recognized for its rapid growth in the field of<strong> handling<\/strong> at <a href=\"https:\/\/lama-fortune.com\/tag\/flandre\/\" data-type=\"post_tag\" data-id=\"27\">West Flanders.<\/a> Founded in 1969 by Paul Thermote and Paul Vanhalst, the company initially specialized in buying, repairing and selling <strong>old military forklifts. <\/strong>Today, it occupies a predominant position in the global forklift market. The heritage of <strong>The Thermote family is valued at over \u20ac1,500,000,000 and the de Vanhalst family at over \u20ac2,200,000,000.<\/strong><\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69f7b7b1361c8&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69f7b7b1361c8\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1707\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/lama-fortune.com\/wp-content\/uploads\/2024\/03\/top-view-oil-barrels-forklift-truck-move-transportation-truck-male-worker-scaled.jpg\" alt=\"Forklifts from the Thermote &amp; Vanhalst family\" class=\"wp-image-1749\" style=\"aspect-ratio:16\/9;object-fit:cover\" srcset=\"https:\/\/media.lama-fortune.com\/2024\/03\/top-view-oil-barrels-forklift-truck-move-transportation-truck-male-worker-scaled.jpg 2560w, https:\/\/media.lama-fortune.com\/2024\/03\/top-view-oil-barrels-forklift-truck-move-transportation-truck-male-worker-300x200.jpg 300w, https:\/\/media.lama-fortune.com\/2024\/03\/top-view-oil-barrels-forklift-truck-move-transportation-truck-male-worker-1024x683.jpg 1024w, https:\/\/media.lama-fortune.com\/2024\/03\/top-view-oil-barrels-forklift-truck-move-transportation-truck-male-worker-768x512.jpg 768w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewbox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Top view oil barrels forklift truck move for on the transportation truck male worker help arrange.<\/figcaption><\/figure>\n\n\n\n<p>In its early years, TVH concentrated on the Belgian and German markets for the purchase of used forklift trucks. However, faced with a shortage of such equipment in Europe, TVH turned to the <strong>Japan<\/strong>This was the start of a major expansion phase. Today, the company maintains a stock of some 2,100 used forklift trucks, and sells over 5,000 new and used units each year.<\/p>\n\n\n\n<p>The repair of forklift trucks of all makes generated a substantial need for spare parts and accessories, and became the group's core business. This branch grew considerably in the 1990s, thanks to the expertise accumulated over the years. Today, TVH serves on a daily basis <strong>20,000 active customers <\/strong>in over 162 countries, drawing on an inventory of <strong>450,000 spare parts<\/strong> from a database of over 16 million references.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69f7b7b136632&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69f7b7b136632\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1920\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/lama-fortune.com\/wp-content\/uploads\/2024\/03\/ronen-sigan-Ltsz964Ol9o-unsplash-scaled.jpg\" alt=\"Cart repairs by the Thermote &amp; Vanhalst family\" class=\"wp-image-1752\" style=\"aspect-ratio:16\/9;object-fit:cover\" srcset=\"https:\/\/media.lama-fortune.com\/2024\/03\/ronen-sigan-Ltsz964Ol9o-unsplash-scaled.jpg 2560w, https:\/\/media.lama-fortune.com\/2024\/03\/ronen-sigan-Ltsz964Ol9o-unsplash-300x225.jpg 300w, https:\/\/media.lama-fortune.com\/2024\/03\/ronen-sigan-Ltsz964Ol9o-unsplash-1024x768.jpg 1024w, https:\/\/media.lama-fortune.com\/2024\/03\/ronen-sigan-Ltsz964Ol9o-unsplash-768x576.jpg 768w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewbox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<p>The company was run by<strong> second generation of founding families<\/strong> who each held half of the shares. In 2016, TVH's attempt to acquire British competitor Lavendon failed, with the company passing into the hands of <strong>Loxam<\/strong>a French group. However, TVH succeeded in acquiring Lavendon's German subsidiary.<\/p>\n\n\n\n<p>This process also revealed differences of vision between the two owner families, leading to a reorganization in which TVH was integrated into Quertus, a Luxembourg-based group. Following the separation, the Thermote sisters obtained 60 % of TVH shares, and the remaining shares were sold to <strong>the D'Ieteren family for 1.1 billion euros<\/strong>. This transaction left each party with a <strong>net value of around 1.5 billion euros.<\/strong> These families are among the top 20 Belgians <a href=\"https:\/\/lama-fortune.com\/tag\/milliard\/\" data-type=\"post_tag\" data-id=\"41\">of Belgium. <\/a><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th><strong>Entity<\/strong><\/th><th><strong>Details<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Founders<\/td><td>Paul Thermote and Paul Vanhalst<\/td><\/tr><tr><td>Head office<\/td><td>Waregem, Belgium<\/td><\/tr><tr><td>Sector<\/td><td>Forklifts and spare parts<\/td><\/tr><tr><td>Range<\/td><td>Worldwide<\/td><\/tr><tr><td>Customers<\/td><td>20,000 employees in 162 countries<\/td><\/tr><tr><td>Products<\/td><td>2100 used forklift trucks in stock, over 16 million part numbers and accessories<\/td><\/tr><tr><td>History<\/td><td>Expansion from the Japanese used heftruck market<\/td><\/tr><tr><td>Growth<\/td><td>Significant influence of repair expertise and spare parts distribution<\/td><\/tr><tr><td>Division<\/td><td>Reorganization under Luxembourg's Quertus Group<\/td><\/tr><tr><td>Valuation<\/td><td>Founding families retain significant net worth after reorganization<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69f7b7b136998&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69f7b7b136998\" class=\"wp-block-image size-full wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1707\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/lama-fortune.com\/wp-content\/uploads\/2024\/03\/forklift-driver-protective-vest-driving-forklift-warehouse-freight-forwarding-company-scaled.jpg\" alt=\"a man using a wagon from the Thermote &amp; Vanhalst family\" class=\"wp-image-1756\" srcset=\"https:\/\/media.lama-fortune.com\/2024\/03\/forklift-driver-protective-vest-driving-forklift-warehouse-freight-forwarding-company-scaled.jpg 2560w, https:\/\/media.lama-fortune.com\/2024\/03\/forklift-driver-protective-vest-driving-forklift-warehouse-freight-forwarding-company-300x200.jpg 300w, https:\/\/media.lama-fortune.com\/2024\/03\/forklift-driver-protective-vest-driving-forklift-warehouse-freight-forwarding-company-1024x683.jpg 1024w, https:\/\/media.lama-fortune.com\/2024\/03\/forklift-driver-protective-vest-driving-forklift-warehouse-freight-forwarding-company-768x512.jpg 768w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewbox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>","protected":false},"excerpt":{"rendered":"<p>Discover the meteoric rise of TVH, the Belgian materials handling equipment giant, from its foundation in 1969 by Paul Thermote and Paul Vanhalst to become a world leader. With an impressive inventory of 2,100 used forklift trucks and over 16 million spare parts references, TVH has established itself as an essential reference, serving 20,000 active customers in 162 countries. <\/p>","protected":false},"author":3,"featured_media":1748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[4,64,33,35],"tags":[66,5,32,27,6,41,37],"class_list":["post-561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industriel","category-automobile","category-famille","category-gestion-de-patrimoine","tag-automobile","tag-belgique","tag-entreprise-familiale","tag-flandre","tag-industiel","tag-milliard","tag-patrimoine"],"taxonomy_info":{"category":[{"value":4,"label":"Industriel"},{"value":64,"label":"Automobile"},{"value":33,"label":"Famille"},{"value":35,"label":"Gestion 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Moth\u00e9","author_link":"https:\/\/old.lama-fortune.com\/en\/author\/mmothe\/"},"comment_info":0,"category_info":[{"term_id":4,"name":"Industriel","slug":"industriel","term_group":0,"term_taxonomy_id":4,"taxonomy":"category","description":"","parent":0,"count":122,"filter":"raw","cat_ID":4,"category_count":122,"category_description":"","cat_name":"Industriel","category_nicename":"industriel","category_parent":0},{"term_id":64,"name":"Automobile","slug":"automobile","term_group":0,"term_taxonomy_id":64,"taxonomy":"category","description":"","parent":0,"count":67,"filter":"raw","cat_ID":64,"category_count":67,"category_description":"","cat_name":"Automobile","category_nicename":"automobile","category_parent":0},{"term_id":33,"name":"Famille","slug":"famille","term_group":0,"term_taxonomy_id":33,"taxonomy":"category","description":"","parent":0,"count":367,"filter":"raw","cat_ID":33,"category_count":367,"category_description":"","cat_name":"Famille","category_nicename":"famille","category_parent":0},{"term_id":35,"name":"Gestion 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