Success stories

Essers, a family business taking a new start

" Gimv helped Essers develop into one of the most important logistics companies in Europe."

When Henri Essers established his transport business in 1928, he could not have imagined the future expansion of his company, in which Gimv played an important role. Gimv was introduced to the company when one of the two Essers sons wanted to leave the family business in 1990. Several scenarios were considered, including a full sale to a third party. Via the company’s lawyer, Noël Essers was introduced to Gimv and an agreement was soon reached. Gimv took a 40% stake in Essers, for an amount of EUR 12.5 million. The rest of the shares remained in the hands of the family.

As many family businesses, the company was financially healthy, but lacking a well-considered financial structure. The Essers family had been continuously investing in the company and there were no debts. Moreover, they had started to automate the logistic flows in the company several years before, a decision they could benefit from well into the nineties. Gimv introduced improved reporting practices and structured the financial flows. Gimv’s direct approach was much appreciated by the Essers family. Meanwhile, the company flourished. In the nineties, Essers moved to Genk, where it started an ambitious investment programme, focussing on the construction of warehousing facilities. In addition, Essers added new locations, in Courcelles and in Vilvoorde.

Towards the end of the nineties, Gimv intended to start divesting. In 2001, both parties reached an agreement to transfer Gimv’s 40% stake back to the Essers family. Gimv could generate interesting gains, an excellent counterbalance to the effects of the bursting dot-com bubble. The family also gained in many respects. First of all, they had managed to retain their family business. Secondly, Gimv helped the company take a new start, and develop into one of the most important logistics companies in Europe.