GHENT, BRASSCHAAT, 20 JANUARY 2023 - Comax, the solutions specialist for the optimisation and automation of the administration of companies, has been acquired by PIA Group, the Ghent-based accountancy and advisory group. The acquisition sees PIA Group expand its overall offer with solutions. After the takeover Comax will continue to operate as a separate entity for its own client portfolio, which also includes a number of accountancy firms. However, they can rest easy. “Compliance is 100% guaranteed”, Comax and PIA Group declare in unison.
Comax’s growth story.
Comax was founded in 2013 by Géry Lambrechts and Ellen Van Muylder. They will continue to handle the day-to-day management of the company after the acquisition.
Comax specialises in the digitalisation and automation of the administration of companies with an emphasis on SMEs and specific sectors such as accountancy, wholesale and transport.
The solutions of Comax focus on the optimisation of processes, time gains and greater efficiency. In a mere decade, the company has evolved into a solid player with 13 process analysts, developers and support specialists. This strong growth is not a coincidence. “In 2023 automation truly is a basic need for any business”, says Géry Lambrechts. “Our solutions lighten the workload. In all sectors.”
Comax starts from every client’s specific situation and needs. Subsequently their team of specialists creates a customised solution which can then be expanded in a pragmatic way.
Independence maintained after the takeover.
Comax counts quite a few accountancy groups among its customers, one of which was PIA Group. These collaborations called the attention of Steven Brouckaert, founder and chairman of PIA Group, Ellen Van Muylder and Géry Lambrechts to the many similarities in their business culture. This led to a convergence of both parties although independence remains the cornerstone of the collaboration.
Ellen Van Muylder: “Our accountancy sector clients can rest easy. We are already working for a great number of accountancy firms and we invariably do so in good faith. And Géry and I personally guarantee that good faith, also after the takeover. We create solutions but we never go as far as the data. Compliance is 100% guaranteed.”
Steven Brouckaert agrees wholeheartedly: “Comax will remain an entirely separate company following the takeover. We will simply refer our corporate clients to them.”
Objectivity.
Wouldn’t a software company have been a more logical choice as a takeover partner for Comax? “No”, says Géry Lambrechts. “Of course, there were several interested parties in the last two years but also from a technological standpoint Ellen and I felt it was essential to maintain our neutral character and objectivity. We wanted the freedom to decide which technology would be most effective for our clients.”
“Objectivity and independence are an essential part of our business philosophy”, Ellen Van Muylder adds. “We found that PIA Group shares those values. When they acquire an accountancy firm they not only preserve its DNA, they actively support it. This respect for independence ran as a red thread through the negotiations and for us it was a precondition to say ‘yes’.”
A logical next step in PIA Group’s takeover strategy.
With some 50 branches that employ 900 staff, PIA Group is active in Belgium and the Netherlands. This is due to a clever acquisition strategy where every acquired accountancy firm remains a strong individual brand within the group, headed by a competent partner-entrepreneur and with maximum support from the central organization. This unique approach has made PIA Group the third-largest player in the medium segment of its chosen sector, more specifically the market segment directly below the so-called Big Four.
PIA Group’s offer already included Business Intelligence and CFO services, with a strong focus on insight into figures through reporting, guidance in the rollout of ERP systems, etc. With the acquisition of Comax, PIA Group has broadened its service offer as well as the scope of companies it is looking for.
“As an accountancy partner we are part of the administration of businesses and self-employed professionals”, Steven Brouckaert explains. “We noticed that they struggle with the efficiency of their data and document streams and that is why we had been looking to acquire a digital partner for a while now. With the addition of Comax we can now effectively help our customers build digital solutions to remedy this. The takeover is a logical next step in the continued expansion of our activities. In the medium term we are planning further takeovers in other areas.”
For more details on this press release feel free to contact
- Steven Brouckaert at steven@pia.be
- Ellen Van Muylder via ellen@comax.be
www.pia.be
www.comax.be
