Over the past two decades, Fedrus International has invested in B2B companies with growth potential, supporting their leadership to evolve in professionalism, sustainability and profitability.

The operational management of the business units is in the hands of the respective Management Committees thereby acting in compliance with the Fedrus values and strategy, in order to guarantee future growth in becoming the best partner.


Fedrus has built up unique experience and know-how, by constantly striving for quality and with a strong will to keep innovating.

In 2023 Fedrus  acquired a minority stake in Aerobel, a Belgian high-tech scale-up company with an advanced research department, headed by leading academics.

Acroble’s mission is ‘to provide the European market with innovative & ecological insolation raw materials of the highest quality’. The company combines its academic knowledge with decades of experience and know-how within the building industry.

With its minority stake, Fedrus wants to be involved early in the process in order to have a state-of-art insulatio product for the roof and façade market.


Innovative insulation technology

Producer of innovative & ecological insulation raw materials of the highest quality.

  • Aerogel: Open-porous nanostructured solid materials that are the lightest and best solid thermal insulators in the world.
  • EPS: Expanded Polystyrene is an excellent insulator composed of a closed cell structure.

  • Binders: Aerobel specializes in the development and production of environmentally friendly binders.


  • 2023Acquisition of PLASTIVAN NV & Heli Group NV.
    Minority share of AEROBEL NV

  • 2022Continuation of success story with incorporation of Lysias Investment

    A vehicle for long-term investment for Fedrus staff and a limited number of external investors.
  • 2021Buyout of Sofindev and ING Private Equity

    Vandecruys-Steenbrugghe family becomes sole shareholder.
  • 2019Launch of 'Building Tomorrow'

    A project to secure Fedrus' growth and competitiveness.
  • 2017Further international expansion

    • Acquisition of VMZINC
    • Acquisition of MCP Defrancq in France
    Repositioning and name change from I.R.S. to BTech and VMZINC to VM Building Solutions.
  • 2015Entry of Sofindev and ING Private Equity

    As minority shareholders
  • 2013Acquisition of APOK

    Solid expansion of the Belgian distribution network
  • 2012Merger of I.R.S. and BTech

    Into the biggest Belgian distributor of EPDM roofing
  • 2009Incorporation of Fedrus International

    Formerly Fedrus Invest
  • 2002Acquisition of Btech by Mark Vandecruys

  • 1994Launch of VMZINC

  • 1993Absorption of Vielle Montagne France into Union Minière

    Later Umicore
  • 1993Incorporation of I.R.S.

  • 1989Incorporation of MCP Defrancq

  • 1982Incorporation of Rubitech

    Later Btech
  • 1953Incorporation of APOK

  • 1837Incorporation of 'Society des mines et fonderies de zinc de la Vieille Montagne'