Marcel Boekhoorn

Marcel Boekhoorn (Dutch pronunciation: ['mɑrsɛl 'bukɦoːr(ə)n]; born 30 October 1959 in Nijmegen) is a Dutch entrepreneur, investor, philanthropist and owner of investment company Ramphastos Investments. Boekhoorn has a wide array of business interests in the Netherlands and beyond. With an estimated net worth of €1.9 billion (US$2.2 billion), Boekhoorn is one of the wealthiest individuals in the Netherlands.

Marcel Boekhoorn, a CPA by training, started his career as a chartered accountant (Register Accountant - RA) with accounting organisation Deloitte & Touche in 1981. By 1991 he had become the organization’s youngest partner to date. In 1994, Boekhoorn founded his investment vehicle Ramphastos Investments and started to invest in unconventional companies that had little traction with other investors (such as small wheelbarrow manufacturers and a spray can producer). The key approach of Boekhoorn’s investment strategy is to place emphasis on adding value to the revenue side of the business equation, rather than exclusively focussing on cost reduction. This approach sets Ramphastos Investments apart from many companies in the private equity world. Boekhoorn is furthermore known for his focus on value creation through buy-and-build strategies, marketplace innovation, internationalisation, management empowerment and strategic partnerships.

Within a few years of its establishment, Boekhoorn had substantially grown Ramphastos Investments’ portfolio and its invested capital by achieving large returns through several high-profile exits. Boekhoorn's major feat was the €300 million acquisition of Dutch mobile operator Telfort (co-owned by the railways) in 2005 and its subsequent sale nine months later to incumbent telco and Dutch market leader KPN at a valuation of €1.2 billion. Other examples of successful exits include: nl:Bakker Bart, (Dutch bakery chain, sold to de:Kamps AG), Cocachoc (sold to Suchard/Kraft Foods), Novaxess (a telecom provider, sold to Easynet Global Services), Motip Dupli (an automotive and DIY spray paint producer, sold to Intermediate Capital Group), Sim Industries (flight simulators, sold to Lockheed Martin), Suitsupply (men's fashion retailer, sold to the majority shareholder) and Delivery Hero (German food-delivery service, divested after IPO).

Boekhoorn became known to the wider public in 2018 when he acquired retail chain HEMA from Lion Capital LLP. HEMA had been struggling for years under an unsustainable debt burden resulting from the aggressive financing techniques under previous ownership. Boekhoorn, who made it clear from the outset that his top priority was to drastically cut HEMA’s debts and the associated huge interest payments, was welcomed by the retail chain with open arms. He succeeded in resolving a long-running conflict with franchisees and forged important partnerships for HEMA, for example with supermarket chain Jumbo. When the situation at HEMA started deteriorating rapidly as a result of the coronavirus crisis Boekhoorn found himself on a collision course with a group of creditors. This resulted in him being forced to hand HEMA over to the Ad Hoc Group, a diffuse group of creditors including foreign investors such as Carval and Carlyle in mid-September 2020. In the end Boekhoorn, who had presented a proposal to HEMA and the Ad Hoc Group in mid-June to relinquish part of his shares and to invest additional funds in HEMA, did not oppose the loss of the retail chain. During the court case his lawyer said of this: “It is painful that the upshot could be that Boekhoorn will not be involved in this future for HEMA going forward, but now as before HEMA’s interests are Boekhoorn’s prime consideration.” Marcel Boekhoorn invested a total of around EUR 115 million in HEMA. The retail chain expressed its gratitude on its website and for example with a full-page advertisement in Dutch influential daily newspaper De Telegraaf and a video message from HEMA CEO Tjeerd Jegen. The new owners have let it be known that they wish to sell HEMA on again as soon as possible.

Wilco Jiskoot, former executive board member of ABN AMRO Bank, is one of the advisors of Marcel Boekhoorn.