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PNO (2023)



Chestnut acted as sell-side advisor to PNO


PNO offers a wide range of subsidy, innovation and compliance services and is strongly positioned in the sectors life sciences & health, energy and climate & environment. In the Netherlands, PNO is among others market leader in the area of R&D subsidies (WBSO-dienstverlening).

Bencis is an independent investment fund with offices in Amsterdam, Brussels and Düsseldorf focusing on mid-market investments in European companies.

Chestnut acted as sell-side advisor to the shareholders and management of PNO on the sale to Bencis.

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