Philippe Estas

Philippe Estas

Partner, Deals - Transactions & Private Equity Lead, PwC Belgium

Philippe Estas is a Partner of the PwC Deals practice. He joined PwC in 1999, after having worked in various finance functions.  

He graduated from the University of Leuven in HIR Applied Economics and holds a Master of Business Administration (MBA) from the University of Antwerp.  

Philippe has led a wide range of projects and has a deep experience in financial due diligences (both buy-side and sell-side) for both Belgian and international clients.  His focus is client driven i.e. providing his clients with the comfort and peace of mind driving the transaction and beyond recycling the benefits post deal.  

His expertise is primarily related to the analysis of business plans, the underlying assumptions therein and sensitivity analysis around key KPI’s. The translation of this analysis into cash flows is critical for all stakeholders.

 He speaks native Dutch and French and fluent English.

 Relevant transactions/clients Philippe worked for include:

  • Bekaert Fencing (Betafence) VDD acquired and sold by CVC
  • Taminco VDD with CVC and Taros Capital;
  • VDD of Alpro Soya division (Vandemoortele) to Dean Foods.
  • Bridon Bekaert Ropes Group merger
  • Multiple transactions or EDF-Luminus
  • Veritas for Indufin
  • Studio 100 for Fortis PE
  • De Boeck / Larcier for Ergon
  • Chemogas for Gilde Buy Out
  • Unilin/Mohawk acquisitions of IVC and Tratherm



He has worked for both private equity and corporate clients, and has gained a high level of expertise in coordinating transaction work.

Philippe is responsible for leading the Private Equity practice in Belgium providing Private Equity clients with a complete suite of tailored Private Equity services.


  • With PwC since 1999


  • Private Equity transactions
  • Financial due diligence
  • Acquisitions and disposals
  • Valuations in a deal context
  • Business plan analysis
  • Independent Business Review (IBR)
  • Private Equity
  • Retail and consumer goods
  • Industrial products
  • Service industry
  • Financial Services
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