Logistics service provider Gilbert De Clercq is one of the many family businesses in our country. As the only remaining representative of the second generation, Filip De Clercq is now alone at the company’s helm. In our mobile office, Filip explains how he took over the family business and how Grant Thornton helped him to do so.
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His three elder sisters joined the family business at the end of last century, while Filip followed in 2000. “For our parents that was the logical thing to do”, explains Filip. “I quickly climbed all the echelons in the company and, in 2002, was given the chance to set up our Spanish premises. That was a tremendous opportunity to learn.”
“About ten years ago, we launched a takeover journey. In 2014, I bought my sisters’ shares and took full possession of the organisation myself. Grant Thornton supported us in the valuation of our company, Peter Vermeiren was our fixed takeover advisor.”
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From then on, Filip was alone at the head of the company which his parents had spent over 50 years developing. “Then I could choose: stay the same or go up a gear”, explains Filip. “I went for the second option, but there was a lot to think about.”
“The biggest challenge was transforming our flat family structure into a business model to suit our growth ambitions. That had many ‘technical’ and administrative consequences, but above all I had to find the right people to join me in the new management team. It took me several years to get our organisation exactly where it needed to be.”
“Also, we faced a tough financial challenge. I had recently taken over the business and needed to invest in new locations in order to realise our ambition – growing from our logistical base. That felt like a bag full of cobblestones that I had to drag with me for several years.”
Reliable sparring partnerGrant Thornton has been Filip’s trusted partner for quite some time now. In different areas. “Including the valuation in our takeover journey, advice when purchasing new warehouses and help with taxation: Grant Thornton is always there to assist me as a sparring partner”, says Filip. “Using the advice from my fixed Grant Thornton contacts I take decisions with complete confidence.” |
A significant part of the growth in Gilbert De Clercq comes from abroad. “After Spain in 2002, we also started in Slovakia in 2006”, says Filip. “There too, we are working with branches from Grant Thornton’s international network. Knowing that you can also trust your permanent partner across the borders, that is very reassuring.”
Those doing business internationally must consider all kinds of specific rules and obligations. Transfer pricing is one such requirement. “As the parent company, we prepare the file in Belgium with guidance from Leslie Van den Branden. This information is then used by the branches in Spain and Slovakia when setting to work on their documentation.”
Filip has already travelled some miles at Gilbert De Clercq. Even so, there are many other great things on the road ahead. “Business is going well, so we can be ambitious”, confirms Filip. “Gradual organic growth remains our main goal, but we are certainly also open to other opportunities. Provided the future of our family business is guaranteed.”
Does Filip have tips for other entrepreneurs with a family business? “Think about the transition to the next generation in plenty of time. Ultimately, it all boils down to money and that is always tricky in a family context. Open communication is essential to secure your business and your family relations.”
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