Gumption targets €150m turnover and 1,000 employees by 2025
Gumption reports good growth figures. Our buy-and-build strategy is paying off.
Gumption continues to grow strongly. A year ago, Gumption implemented a capital increase. The EUR 7.5 million of family growth capital provided oxygen for new acquisitions. Eight companies joined the group. Turnover grew by 20% to 104 million euros, and the number of employees rose to 800. Managing partner Bart Embrechts expresses the ambition to grow to 150 million euro turnover and 1,000 employees in 2025. "Our buy-and-build strategy is bearing fruit".
‘2022 was an anniversary year for Gumption: we celebrated our tenth birthday’, says managing partner Bart Embrechts. ‘We expressed our ambition to surpass the magical 100-million-euro-turnover milestone. And, we can proudly reveal that we succeeded.’ In the middle of last year, Gumption carried out a capital increase to finance the planned growth. The 7.5 million-euro group growth capital enabled the funding of new acquisitions. The list of new companies that joined the group is impressive.
‘Our buy-and-build strategy is paying off’, says Bart Embrechts. ‘Among the companies we integrated over the last 18 months are SAP specialists Canguru, IDinIT and HuRis through TheValueChain. Bmatix acquired BI specialist McCoy & Partners Belgium. E-commerce specialist Studio Emma and communications company Creatief (now Oddball) joined the group. We invested in the no-code tool Plugnotes. And in Luxemburg, we welcomed Payroll Engine - an update will follow soon! They offer a web application for payroll calculation.’
‘2022 was an anniversary year for Gumption: we celebrated our tenth birthday’, says managing partner Bart Embrechts. ‘We expressed our ambition to surpass the magical 100-million-euro-turnover milestone. And, we can proudly reveal that we succeeded.’ In the middle of last year, Gumption carried out a capital increase to finance the planned growth. The 7.5 million-euro group growth capital enabled the funding of new acquisitions. The list of new companies that joined the group is impressive.
‘Our buy-and-build strategy is paying off’, says Bart Embrechts. ‘Among the companies we integrated over the last 18 months are SAP specialists Canguru, IDinIT and HuRis through TheValueChain. Bmatix acquired BI specialist McCoy & Partners Belgium. E-commerce specialist Studio Emma and communications company Creatief (now Oddball) joined the group. We invested in the no-code tool Plugnotes. And in Luxemburg, we welcomed Payroll Engine - an update will follow soon! They offer a web application for payroll calculation.’
Gumption has a loyal customer base. Our ten biggest customers have been with us for years.
High staff retention in a tight labour market
Gumption only just fell short of meeting its target of new recruits. ‘We had set ourselves a goal of 210 recruitments’, says Bart Embrechts. ‘We ended the year on 193. The tight labour market, particularly in ICT, is making things tricky for us.’
Managing partner Liene De Bie adds: ‘Finding talent continues to be a challenge, not just for us. We have over forty unfilled vacancies across our 18 companies. That people want to stay with the group fills us with pride. With a 90% retention rate, we are scoring above the market average.’
Retaining that team feeling is quite a feat in a fast-growing group, Liene De Bie stresses. ‘We are strongly committed to wellbeing and knowledge sharing. We have strengthened our internal communication. And last but not least, we organise fantastic events like our annual staff party. We also regularly plan team building activities. People see Gumption as a good employer. We are proud of that. Thanks to our group structure, we can offer people exciting career opportunities.’
High staff retention in a tight labour market
Gumption only just fell short of meeting its target of new recruits. ‘We had set ourselves a goal of 210 recruitments’, says Bart Embrechts. ‘We ended the year on 193. The tight labour market, particularly in ICT, is making things tricky for us.’
Managing partner Liene De Bie adds: ‘Finding talent continues to be a challenge, not just for us. We have over forty unfilled vacancies across our 18 companies. That people want to stay with the group fills us with pride. With a 90% retention rate, we are scoring above the market average.’
Retaining that team feeling is quite a feat in a fast-growing group, Liene De Bie stresses. ‘We are strongly committed to wellbeing and knowledge sharing. We have strengthened our internal communication. And last but not least, we organise fantastic events like our annual staff party. We also regularly plan team building activities. People see Gumption as a good employer. We are proud of that. Thanks to our group structure, we can offer people exciting career opportunities.’
Focus on digital transformation
Gumption made the strategic decision in 2022 to stay closer to its core activity. ‘Digital transformation is the group’s speciality’, Bart Embrechts continues. ‘Through the principle of co-creation, the Gumption companies regularly work together for customers. That they complement each other is important to us. When considering new investments in companies, this complementarity with the group is a deciding factor.’
‘The recent disinvestments in atypical companies also need to be viewed in that light. We go for companies that are a better portfolio fit. The exit of e-mobility company CenEnergy and healthcare professional EghtCare was part of this strategy.’
Gumption has a loyal customer base. ‘Our ten biggest customers have been with us for years’, says Bart Embrechts. ‘We attract new customers through initiatives like Gumption Cafés on a variety of IT business topics. The Ambassadors Clubs for sales, marketing and HR stimulate collaboration across the group’s companies.’
The list of new companies that joined the group is impressive.
Focus on products
Besides services, Gumption wants to provide products more often too in the future. ‘Brightest and TheValueChain are just two of our companies that are working hard on developing products for customers in addition to their service offering’, Bart Embrechts clarifies. ‘Among the newcomers, Plugnotes provides a no-code solution for process digitisation. It’s a fine example of our renewed product focus, just like Payroll Engine for the Luxembourg market. HuRis, too, already has several SAP solutions in its offering.’
With Payroll Engine, among others, Gumption underlines its commitment to staying true to its Benelux strategy. Bart Embrechts: ‘We want to be a trusted partner in the three countries. With 30 employees in Luxembourg and 80 employees and 12.5 million turnover in the Netherlands, our market share continues to grow steadily.’
Focus on products
Besides services, Gumption wants to provide products more often too in the future. ‘Brightest and TheValueChain are just two of our companies that are working hard on developing products for customers in addition to their service offering’, Bart Embrechts clarifies. ‘Among the newcomers, Plugnotes provides a no-code solution for process digitisation. It’s a fine example of our renewed product focus, just like Payroll Engine for the Luxembourg market. HuRis, too, already has several SAP solutions in its offering.’
With Payroll Engine, among others, Gumption underlines its commitment to staying true to its Benelux strategy. Bart Embrechts: ‘We want to be a trusted partner in the three countries. With 30 employees in Luxembourg and 80 employees and 12.5 million turnover in the Netherlands, our market share continues to grow steadily.’
Looking to 2025
‘Without our customers, partners and colleagues, we wouldn’t have been able to write this special story’, says Bart Embrechts. ‘We want to expressly thank them for these great results we continue to achieve together even in more difficult years. Finally, we want to reiterate our ambition to achieve a turnover of 150 million euros in 2025 and to grow to a team of 1,000 employees.’