Katleen Adriaensens took over her father’s building company at the age of 24. Some 10 years later, Katleen is in full swing and has already been crowned with the title of ‘Young Builder of the Year’. She is now writing the next chapter of her successful business story with the arrival of a new associate. Grant Thornton helped Katleen with the valuation and restructuring of Adriaensens.
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Adriaensens is a real family business. “My great-uncle founded the company in 1958”, recounts Katleen. “Later my father joined the business too. Thanks to him, Adriaensens grew to around 40 employees, but he also halved that number again. As the managing director he was keen to know each customer personally. That is still the intention today. So, we choose to keep our business small.”
“My father always enjoyed his work. I was rather jealous in fact, because my previous job gave me little satisfaction. Also, I found it a shame that there was no immediate successor ready to take over the family business. My three sisters had no plans to do it. So, I decided to take the leap myself in 2011.”
“First, I spent six months touring around with my father and then I took over the business. My father set off on a world trip, so from that moment I was really on my own. Running a company with 20 employees at the age of 24 is quite a challenge, but it is also the best way to learn. Although you get advice from lots of people, you always learn most from your own experience.”
After 12 years, Katleen believed it was time for some reinforcement. “Since 2023, I have a right hand – not a family member – who was also keen for a share in the company”, she explains. “I got in touch with Grant Thornton to find out the best way for us to arrange it. After the intake discussion, I was presented with a clear plan during a follow-up meeting.”
“Grant Thornton made a valuation and then looked at the company’s restructuring from different angles. In this way I received comprehensive advice and was certain that we chose the best approaches. Grant Thornton also charted the administrative impact and discussed them directly with my accountant. Really handy.”
Restructuring: more complex than you imagineStefaan De Coninck was Katleen's first point of contact. "It was primarily our legal departement, led by Tim Dausy, who steered the restructuring, supported by our tax and VAT colleagues", explains Stefaan. "In addition, our experts in inheritance tax ran through the file to highlight the consequences in that area. Our multi-disciplinarity was therefore very useful." "What's the best way to rearrange the affairs and activities of the enterprise to incorporate the new person in the business? Which aspects must be included in the shareholders agreement? How do we limit the risks foth both the business and the stakeholders? These are just a few of the many questions that we answer. There is much more to a restructuring than you realise. Wz aim to take the pressure off the customer throughout that process." |
The restructuring is now all done and dusted. “Everything went smoothly”, says Katleen. "Looking back, the project was more complex than I had expected, but I had no reason to worry. My main point of contact always discussed things behind the scenes with his colleagues and came back to me with simple substantiated advice.”
“I’m also glad that I didn’t need to involve a range of external parties and that I could be guided by one single partner from A to Z. That meant no precious time was lost. As managing director you just want to get the best possible advice, so that you can continue running your business without too many distractions. That was certainly the case."
“Plus, the end of the restructuring project does not mean the end of my contact with Grant Thornton. At the moment I have no specific need for advice, but I certainly have the feeling that I can always pick up the phone to ask a quick question. After all, Grant Thornton – just like Adriaensens – feels very approachable.”
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