Maarten Bynens takes over Genk’s company GMF

The Limburg entrepreneur Maarten Bynens is taking over the Genk company GMF. This means that a technological pearl remains in Limburg hands. “Despite interest from abroad”, says owner Luc Akkermans.

Owner Luk Akkermans had made anchoring in the province a condition of the sale.

GMF, the abbreviation for Genker Machinenfabriek, specialises in the development and production of drives for, among other things, large industrial gates, roller shutters, swimming pool covers and fire doors. These are so-called high-power worm gears. The company is hardly known in our province, but in its segment GMF is among the top five in Europe. Almost three quarters of the turnover is realised abroad. Limburg technology can be found in projects such as the Paris Opera, the Johan Cruijff Arena, the Channel Tunnel, large cruise ships, Ikea Russia and Audi Ingolstadt.

GMF was founded in the 1970s by the German group W&H Neukirchen. Luk Akkermans started working there at the time as a student, before taking over the company 22 years later via an MBO. Today, GMF has a turnover of 6 million euros and employs some 30 people. However, Luk Akkermans, now 66, was confronted with a lack of family succession and therefore started looking for a buyer. Despite interest from abroad (who wanted to pay more), the owner opted for an offer from fellow townsman Maarten Bynens. The 36-year-old serial entrepreneur takes over all shares through his industrial holding company Initium and becomes managing director. Luk Akkermans will remain active for another three years in the role of advisor.