Gimv buys minority stake in Projective Group

The company comprises the subsidiaries Projective NV and Exellys. Projective acquired a majority stake in Exellys in 2014.

Projective's CEO, Stefan Dierckx, told Unquote sister publication Mergermarket in 2018 that the company was seeking add-ons valued at up to €10m. The company expected to generate 2018 revenues of €30m.

Projective intends to generate revenues of €100m by the end of 2023 and to increase its headcount to 800 staff, according to a statement, with a focus on buy-and-build in the European market.

Company
Projective Group is composed of two subsidiaries: Projective NV and Exellys. Projective NV was founded in 2006, while Exellys was founded in 2014, according to LinkedIn. Projective advises financial services on digitalisation, operational and regulatory matters, whereas Exellys is a technology incubation and recruitment firm that aims to match candidates with the technology needs of companies.

Headquartered in Brussels, the business had 300 employees in 2018; it now employs 350 staff and generates revenues of €45m. The company opened an Amsterdam office in 2020.

People
Projective Group – Stefan Dierckx (founder, CEO).
Gimv – Ruben Monballieu (partner, Sustainable-Cities).

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• Topics
• Expansion
• Benelux
• Industrials
• Belgium
• Gimv