Smile Invest Forms Strategic Partnership with Varel Security

Smile Invest has entered into a strategic partnership with Varel Security, a leading Belgian provider of integrated security technology solutions, marking a significant step in Varel’s growth trajectory. Announced on July 1, 2026, the partnership brings Smile Invest alongside Varel’s key management and existing investor ING, aiming to strengthen the company’s position domestically and in adjacent European markets.

While financial terms were not disclosed, the transaction involves Smile Invest acquiring a stake in Varel Security. Founder Ben Fortan and his experienced management team retain operational control, continuing to lead daily operations and long-term strategy in close collaboration with Smile Invest. ING remains a minority investor, supporting the transition.

Varel Security specializes in the design, installation, monitoring, maintenance, and lifecycle management of electronic security and fire detection systems. The company serves a diverse client base across multiple sectors, backed by long-term service contracts and a reputation for quality and responsiveness. Its integrated security solutions provide customers with comprehensive protection and peace of mind.

Ben Fortan, founder and CFO of Varel Security, emphasizes continuity and shared vision: “This partnership is a natural next step for Varel. We have built a strong company with a fantastic team and loyal customers, and we wanted to bring in a partner that shares our long-term vision and entrepreneurial mindset. Business will continue as usual, now supported by additional expertise and resources to help us grow further.” CEO Cliff Lodewijckx, who also joined as a shareholder, highlights the company’s focus on accelerated growth through serving a broader customer base and offering security as a service in an increasingly digital and connected world.

From Smile Invest’s perspective, Managing Partner Bart Cauberghe and Investment Director Joost van Wijk express confidence in Varel’s market position and team quality. They view the partnership as a collaboration to support sustainable growth while preserving Varel’s entrepreneurial culture. ING’s Head of Corporate Investments, Evelyne Heyvaert, welcomes Smile Invest’s involvement, noting the company’s evolution into a strong platform backed by a dedicated team.

The partnership aims to leverage synergies such as cross-selling integrated security solutions to Smile Invest’s portfolio clients, expanding into new geographic markets, and accelerating growth through a combination of organic expansion and targeted acquisitions. Operational efficiencies are expected through shared administrative functions, economies of scale in procurement, and optimized maintenance and monitoring services. Joint R&D investments will enhance innovation capabilities, improving service quality and lifecycle management.

Market analysts note that this deal strengthens Varel Security’s position as a leading integrated security solutions provider in Belgium, with potential to increase market share regionally. The security technology sector is experiencing consolidation and increased competition, driven by technological advances and customer demand for comprehensive, connected solutions.

Looking ahead, the partnership will focus on integrating back-office functions without disrupting service quality, maintaining Varel’s entrepreneurial culture, and executing growth initiatives effectively. Both Smile Invest and Varel’s management acknowledge challenges related to aligning strategic priorities and managing cultural integration but remain optimistic about the value creation potential.

Overall, this partnership positions Varel Security to scale operations, serve larger and more complex projects, and strengthen long-term customer relationships. It reflects a broader trend of strategic collaborations in the security technology industry aimed at innovation and market expansion.