After acquiring Solid Talent in February, the Belgian Planet Group has completed its third acquisition in one year: with the addition of Antwerp-based Bizztalent, the Ghent specialist in flexible and temporary staffing increases its added value in the IT sector. Planet Group is already strong in this field through IT-Planet, but with the activities of the new sister company, it significantly expands its presence, with a deep focus on staffing experts in IT infrastructure, including areas such as support, system, and network engineering, which have been Bizztalent’s core activities since 2012.
Complementary
Planet Group is largely acquiring Bizztalent from Jan Rombouts, Nick Smeyers, and Soheel Latifi. The three partners of the company will retain a minority stake of 15% together. They will remain operationally on board and will continue to expand their company within the Planet Group structure. “IT-Planet and Bizztalent will remain independent of each other, but will follow a complementary course together under the wings of Planet Group,” says Planet Group CEO Sam Baro. “The acquisition gives both companies together an even greater market position within IT consulting, and we strongly complement each other’s activities. Through this consolidation, we can offer our employees even more high-quality projects and serve our clients better with experienced consultants.”
Next level
Geographically, Bizztalent’s headquarters are located in Antwerp, while IT-Planet operates mainly from Ghent. With the additional offices of Planet Group in Groot-Bijgaarden, Antwerp, Hasselt, and Knokke, the entire Flemish and Brussels regions are covered. Bizztalent has 120 employees on its payroll, supplemented by 15 freelancers. IT-Planet, on the other hand, has about 165 consultants and works primarily with freelancers. With the acquisition, Planet Group now has a total of 300 IT employees.
Bizztalent also had a clear strategic interest in the acquisition. “We were ready to go to the next level,” say the three partners. “But then you face a choice: do we scale up components of our business that are not part of our core activities — such as HR, marketing, and support services — ourselves, or do we seek a larger partner where that broader scale is already present? Ultimately, the latter option seemed the best to us. Planet Group provides the key to continuing our qualitative growth. The synergy offers enormous added value for both our employees and our clients.”
Common vibe
Before the acquisition, there had been no collaboration between IT-Planet and Bizztalent. However, immediately, there was a noticeable match in how both companies treat their people. This was recently demonstrated when it was revealed that both companies were nominated for the Data News Awards, which will be presented on May 30, 2024. Both partners will therefore compete for the IT Recruiting & Sourcing Company of the Year award. “We didn’t really know each other when we started the acquisition talks, but the common vibe on a human level was evident,” says Baro.
The external growth trajectory has continued
The new acquisition marks the fifth acquisition for Planet Group and the third in the past year, since investment holding company Creafund acquired a 30 percent stake in the capital at the end of 2021. Sam Baro, who remains the owner of 70 percent of the group, and Creafund set out an ambitious growth plan that envisaged strong organic and external growth. “With the acquisition of Bizztalent, a new step is taken in a sector that we master well. In the future, Planet Group will continue to look for new specializations in flexible and temporary staffing,” says Kenneth Depuydt, partner at Creafund.
About Bizztalent
Bizztalent was founded in 2012 by Jan Rombouts and Nick Smeyers. Soheel Latifi, their very first employee in 2013, became the third partner in 2019. Specializing in staffing IT infrastructure experts, Bizztalent boasts a turnover of 10 million euros and employs 135 staff across Belgium. The company is headquartered on Frankrijklei in Antwerp.
About Planet Group
Planet Group, founded in 2006 by entrepreneur Sam Baro, specializes in flexible and temporary staffing, with expertise in areas such as IT, HR, engineering, healthcare, and interim services. In 2021, investment holding company Creafund acquired a 30 percent stake in Planet Group to accelerate the company’s growth. The corporate group currently generates a consolidated revenue of 125 million euros and employs over 2,000 people, with 110 in the back office located at the Planet Business Center on The Loop in Ghent. Starting in July 2024, Planet Group will relocate its Ghent head office to the Blue Towers, adjacent to the Planet Group Arena, the football stadium of KAA Gent.
About Creafund
Creafund is an independent investment holding company that operates on a long-term basis, specializing in buy-outs and growth capital for medium-sized companies. Founded in 2001, the investment holding has supported over 30 companies in their growth and currently manages 300 million euros in assets, spread across approximately 12 investments. Creafund is owned by around 100 Flemish entrepreneurial families, in addition to the management of Creafund.