Pgb-Group, the market leader in fastening materials in Belgium and a rapidly expanding player in Poland, the Netherlands, and France, has entered into a strategic partnership with Waterland Private Equity.
This collaboration marks a significant milestone in pgb's international growth strategy, with the ambition to become a European market leader.
A family business since its founding in 1956, pgb-Group has seen steady growth over nearly 70 years. Now, the second generation, Luc and Marc Pennoit, are passing the leadership to the third generation. Under the direction of CEO Frederik Pennoit, along with Johannes Heye and Vincent Pennoit, the company is set to expand further through international expansion and innovation.
Solid Foundation for Growth
In recent years, pgb has heavily invested in automation, digitalization, and capacity expansion. Its headquarters and distribution center in Melle house 20,000 pallet locations, including a state-of-the-art automated pallet warehouse, a miniload pick system with 40,000 bin locations, and a newly implemented shuttle system with an additional 40,000 locations.
With an annual turnover exceeding 80 million euros and a strong market presence, pgb is poised to take the next step in its international expansion. The company operates in over 50 countries, with sales offices in Belgium, France, and Poland, as well as a sourcing office in Shanghai to manage its global supplier network. Additionally, its production facility in Poland ensures supply chain control and increased delivery reliability.
Strategic Growth and European Expansion
"This partnership with Waterland enables us to accelerate our growth, both organically and through strategic acquisitions", says Frederik Pennoit, CEO of pgb. "Our focus remains on expanding our presence across Europe, strengthening our services, enhancing automation, and improving supply chain control. With Waterland's support, we are well-positioned to take the next step in our expansion journey."
pgb’s growth strategy is centered on further international expansion through both organic growth and acquisitions in strategically important markets. In the coming years, the company will continue to invest in capacity expansion, automation, and digitalization to better serve customers and strengthen its position in the European market.
